Egypt’s AlexBank, Mastercard team up to boost services

Mastercard has partnered with Egypt’s AlexBank, a member of the Intesa Sanpaolo Group, to support growth, digital transformation, and financial inclusion, the Federation of the Egyptian Banks (FEB) reported on Tuesday.

The bank will utilise Mastercard’s technology to enhance its payment strategy and develop financial services. It will also work with Mastercard to expand its credit card products and improve its business growth.

The partnership will also focus on enhancing the cardholder payment experience by offering new digital offers. The collaboration will enable AlexBank to rely on Mastercard’s advanced fraud prevention and cybersecurity solutions to enhance the security of its payment operations.

This partnership reflects the commitment of both entities to drive technological advancement and comprehensive growth initiatives in the financial services sector, the statement added.

“Through our partnership, we are committed to providing innovative payment technologies and digital products in line with the Egyptian central bank’s financial inclusion strategy,” said Vice President and Country Manager of Mastercard in Egypt.