Arab Financial Services launches acquiring and payment acceptance services in Egypt
By Edlyn Cardoza
Innovative payment platform Arab Financial Services (AFS) announced the launch of its acquiring payment services in Egypt. The launch will enable businesses in Egypt to tap into AFS payments services, offering faster, more cost-effective, and data-enriched solutions.
“We have been trialing the AFS suite of products in-store and we love it,” said Islam Abu El Ftouh, CEO of Quick Air Travel, one of the first businesses to use AFS payment products in Egypt. “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.”
Businesses in Egypt now have access to key AFS offerings, including payment acceptance, Dynamic Currency Conversion, Data and AI. The extensive suite of AFS payments products includes soft POS, spends management, online payment acceptance capabilities, issuing processing services, and wallets, and will be progressively rolled out in the market. After obtaining approval from the Central Bank of Egypt, AFS has already onboarded 15 merchants to its platform.
Samer Soliman, Arab Financial Services (AFS) CEO, 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 announced its plans to expand its presence into new geographies, including Egypt, as a primary strategic market for the company’s business. With Arab Financial Services (Egypt), there will be a dedicated provider of the latest digital payment solutions and technological innovations to businesses, merchants, and financial institutions across Egypt.
IBSi Daily News Analysis
March 01, 2024
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