Al Baraka Bank, in its unwavering commitment to advancing digital payments, has officially partnered with Mastercard, a global leader in digital payments technology. The collaboration aims to introduce a range of premium consumer, commercial, and SME products in Egypt, marking a strategic move towards addressing the evolving needs of individuals in the digital payment sphere and optimizing corporate expense management. This transformative partnership heralds a new era of digitization and efficiency in Egypt’s payment ecosystem.

Expressing his enthusiasm for the collaboration, Abdel Aziz Samir, Deputy CEO of consumer Banking at Al Baraka Bank, stated, “This partnership reflects our commitment at Al Baraka Bank to providing a comprehensive suite of cutting-edge solutions and diverse services, offering a seamless digital experience for our customers. Through this collaboration, we aim to expand the range of financial services provided, attract diverse customer segments, and meet all their needs through services and products tailored specifically for them. This collaboration contributes to advancing digital transformation and financial inclusion efforts, promoting electronic payment systems, and positively impacting the economy as a whole.”

Khalid Elgibali, Division President, MENA, Mastercard, highlighted the significance of the partnership in the journey to build a sustainable and resilient digital economy that is inclusive for all. He stated, “Our partnership with Al Baraka Bank is a key milestone in our journey to deliver on the shared vision of building a sustainable and resilient digital economy that is inclusive for all. This collaboration will enable Al Baraka Bank to empower individuals and businesses with world-class innovative offerings and payment solutions to embrace the benefits of digital transactions by making transactions safe, seamless, convenient, and rewarding.”

The collaboration is set to redefine the financial landscape for both individuals and businesses in Egypt, steering towards a more digitized and efficient payment ecosystem. It marks a pivotal moment in the financial sector’s digital transformation journey, setting new standards for customer convenience, payment security, and financial innovation.

This partnership underscores the shared commitment of Al Baraka Bank and Mastercard to provide premium consumer products and drive the transition away from traditional payment methods. The joint effort aims to better serve customer needs and tap into new, previously untapped market segments. As both industry leaders unite their strengths, the collaboration signals a commitment to shaping the future of digital payments in Egypt.