Arab Financial Services launches acquiring, payment acceptance services in Egypt
Innovative payment platform Arab Financial Services (AFS) on Wednesday announced the launch of its acquiring payment services in Egypt. The launch will help businesses in Egypt tap into AFS payments services, offering faster, more cost-effective, and data-enriched solutions.
Businesses in Egypt now have access to key AFS offerings, such as payment acceptance, Dynamic Currency Conversion, Data, and AI. The extensive suite of AFS payments products, include soft POS, spends management, online payment acceptance capabilities, issuing processing services, and wallets, and will be progressively launched in the market.
After obtaining approval from the Egyptian central bank earlier this week, AFS have already onboarded 15 merchants to its platform.
“We have been trialing the AFS suite of products in-store and we love it,” Islam Abu El Ftouh, CEO of Quick Air Travel, one of the first businesses to use AFS payment products in Egypt, said.
“Having a point-of-sale system with integrated payments and omnichannel solutions has transformed the way we are able to run our business, making it an easy and seamless process. We are pleased we were able to switch to AFS and feel much more confident in our ability to grow, ensuring we never miss a sale, as we look towards the future.” Abu El Ftouh added.
Samer Soliman, AFS chief executive, said: “We are pleased to be extending our services to Egypt, a natural next step after establishing a strong presence in our home markets as we started in The Kingdom of Bahrain and soon branched out to Oman and now Egypt to serve our customers.”
Earlier this year, AFS revealed plans to expand its presence into new geographies, including Egypt, as a major strategic market for the company’s business. With AFS (Egypt) there will be a dedicated provision of the latest digital payment solutions and technological innovations to businesses, merchants, and financial institutions across Egypt. Its offices are located at 90th Street (North) Plot Number: B-39, Fifth Settlement, New Cairo.
Regulated by the Central Bank of Bahrain, and majority-owned by Bank ABC, AFS boasts numerous ground-breaking end-to-end digital payment services and solutions. These span debit, credit, and Islamic card processing, merchant acquiring, fintech, and a suite of state-of-the-art value-added services. AFS has offices and data centers in Bahrain, the UAE, and Oman.
