Al Ahli Bank of Kuwait-Egypt signs a long-term partnership with Visa to expand digital payment solutions

By Mostafa Eid

Al Ahli Bank of Kuwait – Egypt (ABK-Egypt announced the signing of a long-term strategic partnership agreement with Visa, a global leader in payment technology and digital solutions, with the objective of at offering the latest digital payment technologies to meet customer needs, introduce innovative products and services for different segments, and. and enhance its digital payment solutions with advanced and competitive features and benefits.

This partnership involves the launch of a range of new products and services that meet the diverse needs of various customer segments in alignment with Egypt’s strategy to achieve full digital transformation and promote electronic payment systems. Through this strategic cooperation, the Bank seeks to take further steps towards its expansion plan and introduce innovative solutions that provide customers with a seamless and secure banking experience.

ABK-Egypt is committed to Egypt’s financial inclusion strategy and vision of transitioning to a cashless society. And thereby, the Bank adopts a digital transformation strategy that focus on streamlining banking operations to enhance customer experience and reinforce the Bank’s position in the highly competitive and constantly evolving Egyptian market.

Commenting on this partnership, Mr. Khaled Barakat, Deputy CEO ABK-Egypt leading Consumer Banking 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 emphasized 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: “We at Visa are committed to providing the latest digital payment innovations to enhance consumer’s experience in Egypt. 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.”

It is worth mentioning that the signing of this agreement with Visa marks a significant milestone in strengthening the Bank’s position in the digital payments sector. This partnership allows ABK-Egypt to expand its customer base by attracting new segments and encouraging more customers to adopt banking solutions, particularly focusing on youth, who increasingly depend on technology in their daily lives, substantially contributing to the growth of the Egyptian economy.

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