Mastercard partners with Banque Misr’s MDI to boost seamless banking experience in Egypt

Misr Digital Innovation (MDI), part of Banque Misr, has signed on Thursday a seven-day strategic partnership with Mastercard to provide an easy, smooth, and secure banking experience in Egypt.

The partnership is part MDI’s mission to drive the evolution of financial services in the North African country.

MDI was established in 2020 to launch the first digital bank in Egypt in line with the Central Bank of Egypt’s (CBE) rules and regulations. It plans to launch a variety of banking solutions that aim to provide access to the digital economy and drive financial inclusion for the Egyptian community.

“We have a clear and defined digital transformation strategy, which enables us to provide our customers with unparalleled digital banking products and services,” Mohamed El-Etreby, chairman of Banque Misr, said.

“Our partnership with Mastercard not only paves the way for safer, smarter, and more seamless payment experiences, but also showcases our dedication to ensuring that everyone in Egypt can benefit from a successful digital economy.”

As part of this strategic partnership, Mastercard will support MDI with the issuance of debit, credit, and prepaid cards. It will also offer its world-class advisory, marketing, and product innovation support to provide consumers with seamless experiences and bespoke solutions that bring value and simplicity to their lifestyles.

“As a global technology leader, we are committed to enabling financial inclusion and encouraging the shift towards a thriving and all-inclusive digital economy in Egypt.” Mohamed Benomar, country manager for North Africa at Mastercard, said.

“MDI aims to offer advanced digital services that will add value to the customers’ lives and help them realise their financial potential,” Sherif Elbehery, chief executive at MDI, said.

“Our collaboration with Mastercard reflects our aspiration to ensuring that Egyptians can access banking solutions and ultimately be a part of Egypt’s digital transformation journey.” Elbehery added.

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