By : Bakinam Khaled – Rasha Hussein

Innovative payment platform Arab Financial Services (AFS) today announced the launch of its acquiring payment services in Egypt. As the leading digital payment solutions provider and fintech enabler in the Middle East and Africa, the launch of AFS in Egypt will enable businesses and financial institutions to tap into AFS payments services, offering faster, more cost-effective, and data-enriched solutions.

This approval is in line with the Egypt’s ongoing strategic drive towards digital transformation and financial inclusion, and sustained efforts to transform into a regional center for financial technology.

Businesses in Egypt now have access to key AFS offerings including payment acceptance, Dynamic Currency Conversion, Data and AI. As the leading enabler for digital transaction transformation, AFS plans to progressively roll out its extensive suite of AFS payments products, including soft POS, spends management, online payment acceptance capabilities, issuing processing services, and wallets, in the Egypt market.

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.”

AFS is committed to supporting the regional payments landscape and rolling out its future ready payment solutions across its markets. To date, there are already 25 Egypt-based merchants live on the AFS platform after obtaining the Central Bank of Egypt approval to go live earlier this week.

“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.”

Earlier this year, AFS announced its plans to expand its presence into new geographies, including Egypt, as a major strategic market for the company's business. With Arab Financial Services (Egypt) there will be a dedicated provision of the latest digital payment solutions and technological innovations to businesses, merchants, and financial institutions across Egypt.

Regulated by The Central Bank of Bahrain, and majority-owned by Bank ABC, AFS boasts numerous ground-breaking end-to-end digital payment services and solutions. These span debit, credit, and Islamic card processing, merchant acquiring, fintech, and a suite of state-of-the-art value-added services. Providing the highest quality payments solutions that are trusted by businesses, AFS has offices and data centers in Bahrain, the UAE, and Oman. Its dedication to innovation has positioned AFS as a driving market force delivering a rich portfolio of payment solutions including popular digital mobile wallets, market-leading merchant acquiring services, Bahrain’s leading digital payroll solution, global contact centers and more.