Mastercard extends partnership with Banque Misr to enhance digital payments portfolio in Egypt
Building on their successful strategic collaboration, Banque Misr, signed a long-term cooperation agreement partnership with Mastercard to provide the bank with the latest digital payment technology to provide new products, services and innovative solutions to customers, from all segments, and to support digital solutions with advanced and competitive advantages. This is in line with the country's strategy to achieve comprehensive digital transformation and encourage electronic payment systems.
Mohamed El Etreby, Chairman of Banque Misr and Dimitrios Dosis, President, EEMEA, Mastercard, signed the collaboration agreement. The signing ceremony drew the participation of Khalid Elgibali, Division President, MENA, Mastercard, Akef El Maghraby, Vice Chairman, Banque Misr, Adam Jones, Country Manager, MENA Central, Mastercard, and Ihab Dorra, Chief Consumer and Retail Payments Officer from Banque Misr as well as business leaders from both parties.
As part of the collaboration, Mastercard will leverage its innovative payment technologies to provide Banque Misr with the necessary tools and solutions to translate the bank’s ambitious transformation and growth plans into reality. In addition to unlocking new business value, boosting operational efficiencies, and creating meaningful customer experiences, Banque Misr will benefit from bespoke issuing, acceptance, consultancy, and long and short-term advisory services.
Leveraging its Advisors Client Services Hub, Mastercard will help redefine the bank’s offerings and optimize customer engagement through top-of-the-line advisory services that deliver tangible value, drive traction and loyalty, and boost convenience, security, and control. The collaboration seeks to increase the volume of consumer transactions and accelerate the shift towards a cashless society.
Mohamed El Etreby, Chairman, Banque Misr, said: “We are proud with the success that we have collaboratively achieved with Mastercard over the past few years. We are confident that this partnership will support our commitment to expand our services and offer our customers a unique, seamless digital experience. Banque Misr is continuously working to enhance financial inclusion and taking the necessary actions to support this mission ultimately uplifting the Egyptian economy.”
“This partnership aims to support digital transformation and the financial technology pillars which focuses on connecting unbanked segments of society to convenient financial solutions. In turn, we work on curating partnerships that enhance our financial and non-financial services tailored specifically to them and delivered through our wide branch network across Egypt”