Cairo, Egypt Nov. 22nd, 2009, Applications & Payment Systems Development (APSD) Corp.

Masary is clearly setting the standards of serving the unbanked citizens of Egypt.  They proactively chaired a panel in the Global Mobility Roundtable held in Cairo Marriot on the 2nd of November 2009, with the title "Is the unbanked sector in Egypt ready for e-payment solutions?". The panel was very successful in terms of panelists and attendees who agreed all that "Yes, we are ready and we need it".

The panel was presented by Dr. Sherif  Hashem, Senior Advisor to the Minister of Communication and Information Technology, and the Executive Vice President of ITIDA and Prof. Dr. Ashraf Abdel Wahab, Senior Advisor to the Minister of Administration and Development, and Mr. Ahmed Faragallah, Head of Payment Systems Department, Central Bank of Egypt, and facilitated by Masary. Attendees mix of backgrounds enriched the discussions and added to the value of the panel, where representatives from the 3 mobile operators, "Social Fund for Development", "Ministry of Communications and IT", MCIT companies, technology providers, MSAD, National and International banks and others.

Masary's footprint is expanding to serve eight MFIs in eight governorates within Egypt, after the wide acceptance of the newly launched "Masary Small Entrepreneur MFI Program", where MFIs finance Masary's electronic services to the young entrepreneurs living in rural areas and looking to start a profitable project within their neighborhood.

Quoting Dr. Ashraf Abdel Ghaffar, Managing Director, Feda, one of the very active NGOs in Quina, Upper Egypt, "What I like about cooperating with Masary is their interest in the small and micro entrepreneurs who might not be the main focus for many organizations. One of Masary’s strengths is simplifying technological solutions to facilitate the project aspects for all users, as well as their strategic alliance with renowned NGOs in the local communities.

Accordingly I expect great success for this venture, to develop communities and help provide job opportunities for young entrepreneurs".

"It is a new innovative project in community development, it enables us to market our micro finance portfolio in a new less risky way", added Violet Farag, the Micro Loans Manager of Asyout Businesswomen Association.

Masary is now serving more than 350 merchants as points of sales of Masary electronic services, starting with mobile operators topup and soon launching other electronic products that serve the masses living in the rural areas benefitting from the flexible and innovative distribution mechanisms implemented by Masary.