The media center of the Egyptian cabinet announced that the National Telecom Regulatory Authority (NTRA) had denied rumors circulating on WhatsApp about the suspension of electronic wallet services provided by telecommunications companies indefinitely.

The regulatory authority confirmed that the rumors are baseless and that the electronic wallet service works normally and without any obstacles for all telecommunications companies.

What is the electronic wallet service?

The electronic wallet is a digital payment method that allows users to make transactions and payments through their mobile devices without needing physical cash. Many telecommunications companies in Egypt provide this service, which has become a popular alternative to traditional payment methods.

The importance of electronic wallets in promoting financial inclusion

The National Telecom Regulatory Authority emphasized the importance of the electronic wallet service in supporting the state’s efforts and its various institutions to achieve financial inclusion and the transition towards a digital society while maintaining the confidentiality and privacy of data and accounts. 

The authority called on citizens to contact its hotline “155” in case of any complaints related to this matter.

The National Telecom Regulatory Authority’s denial of the rumors surrounding the suspension of electronic wallet services provided by telecommunications companies in Egypt is reassuring for citizens who rely on this service for daily transactions. It also highlights the authority’s commitment to promoting financial inclusion and digital transformation while ensuring the security of citizens’ data and accounts.