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HomeAfricaAl Baraka Bank teams up with Mastercard to advance banking in Egypt

Al Baraka Bank teams up with Mastercard to advance banking in Egypt

Al Baraka Bank Egypt, Mastercard partner to advance banking
Al Baraka Bank and Mastercard seek to provide premium consumer products and drive the transition away from traditional payment methods. Image by Al Baraka Bank Egypt

Al Baraka Bank Egypt has partnered with Mastercard to introduce an array of premium consumer, commercial and SME products in Egypt.

The collaboration is expected to cater to the needs of individuals in the realm of digital payments and streamline corporate expense management, ushering in a new era of digitisation and efficiency in the payment ecosystem.

“Through this partnership, we aim to expand the range of financial services provided, attract diverse customer segments, and meet all their needs through services and products tailored specifically for them. This collaboration contributes to advancing digital transformation and financial inclusion efforts, promoting electronic payment systems, and positively impacting the economy as a whole,” said Abdel Aziz Samir, Deputy CEO of Consumer Banking at Al Baraka Bank.

The alliance between Mastercard and Al Baraka Bank is poised to redefine the way individuals and businesses handle their finances, marking a significant step towards a more digitized and efficient payment ecosystem in Egypt.

It signifies a significant milestone in the financial sector’s journey toward digital transformation, redefining the banking experience and setting new standards for customer convenience, payment security, and financial innovation.

“The partnership will enable Al Baraka Bank to empower individuals and businesses with world-class innovative offerings and payment solutions to embrace the benefits of digital transactions by making transactions safe, seamless, convenient, and rewarding,” said Khalid Elgibali, Division President, MENA, Mastercard.

Al Baraka Bank and Mastercard seek to provide premium consumer products and drive the transition away from traditional payment methods while aiming to better serve customer needs and reach new, untapped market segments.