ABK-Egypt taps Mastercard to accelerate cashless payments

By Vriti Gothi

Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) has partnered with Mastercard to enhance its consumer, commercial, and digital payments offering, as Egyptian banks accelerate efforts to modernise payment infrastructure and reduce reliance on cash.

Under the agreement, Mastercard will act as a strategic technology partner and trusted advisor to ABK-Egypt, providing advanced digital payment solutions aimed at simplifying transactions and strengthening security for both retail and business customers. The collaboration is intended to support the bank’s cardholders with more seamless and secure payment experiences across use cases.

The move comes amid growing regulatory and market pressure on Egyptian financial institutions to expand digital channels, improve transaction efficiency, and broaden access to formal financial services. Partnerships with global payment networks are increasingly viewed as a key enabler in scaling digital adoption while meeting evolving customer expectations.

Khaled El Salawy, CEO and Managing Director of Al Ahli Bank of Kuwait – Egypt, said, “This collaboration allows ABK-Egypt to expand its range of services to meet the diverse needs of various segments, offer innovative solutions that ensure a seamless and secure banking experience, and support Egypt’s vision of transitioning to a cashless society.”

Iman El Essawy, Head of Retail Banking at ABK-Egypt, added, “Our customers will directly benefit from the new digital capabilities and value propositions that this collaboration with Mastercard brings, ensuring a secure and convenient banking experience.”

The partnership also reflects a broader trend in Egypt’s fintech and banking sector, where incumbents are increasingly leveraging technology partnerships to drive innovation and financial inclusion. As digital payments adoption continues to rise, such collaborations are seen as critical to building scalable, secure, and inclusive payment ecosystems.