Government's electronic payment yields Reach LE8.1T in 53 months

CAIRO - 1 January 2024: The government's Electronic Payment and Collection Center at the Ministry of Finance has achieved unprecedented employment rates, surpassing the value of "electronic payment and collection" services at LE 8.1 trillion in approximately 53 months.

 

According to a statement issued by the Ministry of Finance on Monday, these achievements occurred between May 2019 and November 2023, with a total of 607.3 million electronic payments transactions.

 

The Finance Ministry's statement clarified that the growth rate of electronic payment services for state employees reached 12 percent.

 

Additionally, 4.2 million cards carrying the national "Meeza" mark were issued for state employees' entitlements, with 93 percent of these cards activated so far.

 

The electronic collections for the Customs Department amounted to approximately LE 829.5 billion, with a growth rate of 24 percent after transitioning to the Nafeza “Window” payments platform.

 

The ministry noted a stability in electronic payments through various channels for Egyptian taxes, with a growth rate of 30 percent.

 

The electronic payment and collection services for Egyptian taxes recorded a value of LE 1.9 trillion.

 

There has been a significant increase in citizens' interest in settling government dues electronically through the citizen payment service, with a growth rate of 36 percent. The collection service through citizen payment service amounted to LE 171.5 billion.

 

The collection service through government electronic collection machines "GPOS" reached LE 154.6 billion.

 

The value of collections through the government's online electronic payment gateway amounted to LE 1.5 billion.

 

There is also significant expansion in electronic collection services through integrated collection companies with the government's Electronic Payment and Collection Center, achieving governmental revenue of around LE 2.9 billion.

 

The total value of salary payments amounted to LE1.017 trillion, and the electronic payment service for suppliers reached LE 3.8 trillion.

 

Finance Minister Mohammed Maait stated that due to the rapid technological developments, especially in financial technology, continuous reviews of governance procedures for these systems are being conducted. New measures are being added to enhance the governance of integration between the government's Electronic Payment and Collection Center, the electronic collection system, the General Government Financial Information System (GFMIS), and the electronic invoicing system.

 

The financial units' activities are also being monitored to enhance the audit of revenues distributed to specific types and items, with the activation, since December 2022, of the government invoice issuance and governance platform. 

 

This involves linking electronic payment orders for all suppliers and service providers to administrative authorities with the electronic invoicing system at the Egyptian Tax Authority. Additionally, the deployment of electronic collection systems and machines in all traffic units and in entities applying the single-window system for citizen service across all governorates is being completed.