ABK-Egypt and Visa partner to drive digital payments in Egypt

By Gloria Methri

Al Ahli Bank of Kuwait-Egypt (ABK-Egypt) has entered a long-term partnership with Visa to bring the latest digital payment technologies to its customers. This collaboration aims to introduce innovative products and services tailored to different customer segments while enhancing the bank’s digital payment solutions with advanced features and benefits.

As part of this partnership, ABK-Egypt will launch a variety of new products and services that align with Egypt’s national strategy for digital transformation and the promotion of electronic payments. The bank sees this as a step towards expanding its offerings and providing customers with seamless, secure, and modern banking solutions.

Committed to supporting Egypt’s financial inclusion goals and the transition to a cashless society, ABK-Egypt is implementing a digital transformation strategy that streamlines banking operations. This approach enhances customer experience while strengthening the bank’s position in Egypt’s competitive and rapidly evolving financial market.

Commenting on this partnership, Khaled Barakat, ABK-Egypt’s Deputy CEO, stated, “We take pride in this cooperation and look forward to capturing a substantial market share through increasing transaction volumes and attracting new customer segments.” He further emphasised ABK-Egypt’s relentless efforts to expand its retail portfolio through enhancing service quality and launching new products and services with competitive benefits, aligning with the latest technologies and the growing needs of various customer segments.

In the same context, Malak Al-Baba, Vice President and Country Manager of Visa in Egypt said, “This agreement with Al Ahli Bank of Kuwait – Egypt represents a significant step towards achieving this goal, and we look forward to contributing to advancing digital transformation in the country. We believe that supporting our partners in achieving their ambitions is part of our mission. Through this strategic cooperation, we are proud to be part of Al Ahli Bank of Kuwait – Egypt’s vision to develop innovative banking solutions, enrich customers’ lives, and provide a seamless and secure banking experience.”

This partnership allows ABK-Egypt to expand its customer base by attracting new segments and encouraging more customers to adopt banking solutions, mainly focusing on youth, who increasingly depend on technology in their daily lives.