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Hsbc Egypt Launches Platinum Visa

News Posted On: 22 November 2010

In what will no doubt be a memorable step in Egypt's economic advancement, HSBC's Egypt Bank division has announced the launch of its Visa Platinum debit cards in Egypt. The cards, which will go to its advance and premier customers are recognised around the world, have higher spending limits than most credit cards, and include benefits like extended warranty insurance and free purchase protection.

The Bank Announcement went: HSBC Bank Egypt offers its Premier clients the Visa PayWave Platinum Debit Card, which beyond being the first Visa contactless card in the market, offers consumers a faster, more efficient way of making transactions.

"This advanced payment feature offers even greater convenience, while still providing the same secure, flexible, globally-accepted benefits cardholders have come to rely on in Egypt and around the world," said Tarek Elhousseiny, Visa's general manager for North and West Africa.

"HSBC is a global Visa account and a great partner to launch the HSBC Visa PayWave contactless debit card in Egypt and across the region," added Nevine Taher, HSBC's head of PFS and Branches.

In other news, the final route of a planned 15 billion Egyptian pound ($2.6bn) metro line in Cairo has been charted, and work will commence in September 2012. The line, Cairo's fourth, would run from the north western suburb of Sixth of October, passing the site of a new Egyptian museum near the pyramids of Giza, to the El Malek El Saleh district a kilometre south of the city centre.

Both of these developments are part of the reason why Egypt property is set to be one of the top investments in 2011.

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