Strategic Partnership Between EBE and Beyond Payments to Provide Innovative Payment Solutions in the Iraqi Market

Cairo 28 July 2024:

EBE, the leading Egyptian company providing payment solutions in the Middle East, and Beyond Payments, an Iraqi company specializing in payment solutions, have announced a strategic partnership to expand their activities in the Iraqi market and provide innovative solutions in the banking and financial fields. This agreement aims to expand both companies’ footprint in the Middle East and emerging markets.

Under the new agreement, the companies will combine efforts to provide an integrated package of solutions for the banking sector, financial technology companies, and digital payments for customers in Iraq. This includes providing point-of-sale (POS) machines in addition to banking systems solutions.

Ahmed Sanad, Vice President of EBE, stated: “We are excited about this strategic partnership with Beyond Payments, which will enable us to provide advanced financial technology solutions to customers in Iraq. We believe this partnership will contribute to enhancing and developing Iraq’s digital banking and financial services.”

Rajab Dkaidek, CEO of Beyond Payments, commented: “We are pleased to partner with EBE to provide advanced digital payment solutions in Iraq. This partnership will allow us to leverage both companies’ expertise and provide innovative products and services that meet the needs of the Iraqi market. The Iraqi market is open and rich, and there is potential to work on all levels.”

A Baghdad office has been launched to commit to providing local support, expertise, and technical teams.

The strategic partnership between EBE and Beyond Payments affirms both companies’ commitment to developing and enhancing Iraq’s digital financial services. It aims to push forward the digital transformation of Iraq’s financial sector, improving financial inclusion, digital infrastructure, and progress towards a cashless society.

The companies have successfully contracted to provide tens of thousands of POS machines with major companies in the Iraqi market. This achievement indicates the significant success this partnership has achieved in Iraq so far and is expected to play a key role in driving the digital transformation of financial services and boosting long-term financial inclusion.

EBE is one of the earliest companies operating in the electronic payment solutions field in the Middle East, with over 46 years of experience. It currently has a presence in Egypt, Libya, Qatar, and Iraq and has provided over 650,000 POS machines in the Egyptian market, with an 85% market share. It also holds around 95% of the banking card issuance market in the countries it operates in.