Egypt’s Alexbank partners Mastercard to advance payments strategy
Egypt-based Alexbank has partnered with global payments giant Mastercard to enhance its payment solutions strategy.
Alexbank partners with Mastercard to upgrade its payment solutions
The collaboration will also see the Intesa Sanpaolo group bank leverage its new partner’s technology to further develop its fraud detection tools and cybersecurity capabilities.
Mastercard says the deal hopes to modernise the Alexbank’s cardholders’ “payment experience” by expanding the scope of digital offerings across various products, with a specific focus on introducing tailored payment benefits aligned with customers’ spending patterns.
“Through our continued partnership, we aim to enable our users to experience the full benefits of innovative payment solutions through Mastercard’s multi-rail expertise and expanding suite of programmes and services,” explains Tarek Salah, head of retail and SMEs at Alexbank.
Mastercard’s Egypt country manager and VP, Inji Borai, argues the alliance between the two financial organisations will produce digital solutions and payment technologies that align with the financial inclusion strategy currently being promoted by the country’s central bank.
The past few months have seen Mastercard announce several similar partnerships, including in Japan, where technology firm NEC Corporation is to drive the expansion of its Biometric Checkout Programme in the Asia Pacific region, and in the Democratic Republic of the Congo (DRC), Illicocash and Mastercard are aiming to introduce a new virtual card programme.
