Mastercard & ALEXBANK team to boost financial services in Egypt

By Delisha Fernandes

Mastercard has announced a partnership with ALEXBANK, a bank of the Intesa Sanpaolo group. This collaboration builds on both entities’ shared vision to foster growth, accelerate digitization, and promote financial inclusion.

The partnership leverages Mastercard’s technologies to advance the bank’s payment solutions strategy and enhance the financial services landscape.

“Our longstanding relationship with ALEXBANK in Egypt drives our collective ambition to advance the digital transformation of financial services in Egypt, providing greater access to tools that benefit all stakeholders. By strengthening our partnership, we are poised to deliver innovative payment technologies and digital products, in alignment with the Central Bank’s Financial Inclusion strategy,” said Inji Borai, Vice President and Country Manager, Egypt, Mastercard.

With a specific focus on growing ALEXBANK’s exclusive credit card base and acquiring a business, Mastercard’s support will enable the bank to grow across various segments. Additionally, Mastercard and ALEXBANK will modernize cardholders’ payment experience by extending new digital offerings across the range of products, with a primary focus on rolling out personalized payment benefits based on the cardholders’ spending behaviour.

“We are delighted to strengthen our alliance with Mastercard to empower our client-base in Egypt. Through our continued partnership, we aim to enable our users to experience the full benefits of innovative payment solutions through Mastercard’s multi-rail expertise and expanding suite of programs and services,” said Tarek Salah, ALEXBANK’s Head of Retail and SME.

Additionally, through this partnership, ALEXBANK will leverage Mastercard’s advanced fraud detection tools and cybersecurity solutions, reinforcing payment safety to the bank’s clients. This strategic alliance underscores ALEXBANK and Mastercard’s shared commitment to consumer safety, secure payments, and inclusive growth initiatives.