Visa Pushes Debit in Egypt

by Mercator Advisory Group 0

Visa is launching a marketing campaign in Egypt to promote the use of Visa debit cards in the Middle East country.

The campaign, which runs from April 1 – June 30, 2011, will automatically enter all Visa Debit and Visa Electron transactions into a draw for a chance to win. Cardholders can automatically double their chances to win by using their Visa payment cards at Spinneys. Of the twelve prizes, four winners will be drawn every month to win EGP 12,500 each for the duration of the three month campaign.

“As more and more cardholders discover the benefits of payment cards, Visa looks forward to continue working with our partners to develop debit card options and the acceptance infrastructure in order to meet the growingly sophisticated banking needs of Egyptians.” said Tarek Elhousseiny, General Manager for Visa North and West Africa.

Egypt is the largest Arab country. And, like other Arab countries, Egyptian consumer adoption of banking and payment cards remains limited as of April 2011, despite double-digit growth in recent years. Visa hopes to use this campaign to further showcase the convenience and security of debit cards to promote broader adoption among the consumers.

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