Sunday, June 23, 2024
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Egypt’s Alexbank has entered into a partnership with Mastercard to advance its payments strategy, leveraging Mastercard’s technology to enhance fraud detection tools and cybersecurity capabilities.

The collaboration aims to modernize Alexbank’s cardholders’ payment experience by expanding digital offerings across various products. The focus lies on introducing tailored payment benefits aligned with customers’ spending patterns.

Tarek Salah, head of retail and SMEs at Alexbank, states, “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 programs and services.”

Inji Borai, Mastercard’s Egypt country manager and VP, believes that the alliance between the two financial organizations will produce digital solutions and payment technologies aligned with the financial inclusion strategy promoted by Egypt’s central bank.

Mastercard has been actively pursuing similar partnerships in recent months. In Japan, it collaborates with technology firm NEC Corporation to expand its Biometric Checkout Programme in the Asia Pacific region. In the Democratic Republic of the Congo (DRC), Mastercard and Illicocash are working on introducing a new virtual card program.

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