What's Happening?
The National Telecom Regulatory Authority (NTRA) of Egypt has granted Tpay the first license to offer Direct Carrier Billing (DCB) for government payments. This development allows Egyptian citizens who own mobile phones but lack bank accounts or cards
to pay for essential government services, such as electricity and utility bills, traffic fines, and civil registry services, directly via their mobile devices. Payments can be made using their mobile balance or by adding fees to their monthly bill. This initiative is expected to significantly enhance access to digital payments in Egypt, where financial inclusion data indicates that only 76.3% of adults have active bank accounts, despite nearly universal access to mobile internet.
Why It's Important?
This licensing marks a significant step towards increasing financial inclusion in Egypt by leveraging mobile technology. By enabling mobile-based payments for government services, Tpay is addressing a critical gap for the unbanked population, thereby promoting economic participation and convenience. This move supports Egypt's digital economy goals by providing a secure and frictionless payment method, potentially increasing efficiency and transparency in government transactions. The initiative could serve as a model for other countries with similar financial inclusion challenges, highlighting the role of mobile technology in bridging economic divides.
