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Electronic Payment Systems

The “payment system” is defined as a set of means, procedures, and rules for the process of transferring funds between the participating members within the system (banks and financial institutions), in accordance with an agreement concluded between all participating members of the system and the system operator; provided that the transfer of funds is carried out using a technical infrastructure in accordance with agreed techniques.
Since 2002, MCDR has been using the electronic payment system (SWIFT) instead of providing cash in domestic and international transactions, in agreement with banks and other financial institutions.
The company's modern payment systems have been introduced as alternatives to cash compared to traditional payment systems. This includes debit cards (ATM), Fawry, Automated Clearing House (ACH), and Internet banking.