Mastercard, Egyptian Banks team up to boost sustainable economy in Egypt

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: Mastercard has partnered with the Egyptian Banks Company (EBC) to promote sustainable economic development, digital payments landscape, and inclusive economic growth in Egypt, as per an emailed press release.

“By leveraging expertise and international reach, we look forward to paving the way for a new era of digital payments and services and creating innovative solutions for the benefit of millions of customers,” EBC’s Managing Director Ahmed Rabea commented.

“Together, we aim to create new solutions and use cases that capitalize on Egypt's real-time payments infrastructure, ushering in a new era of digital payment services,” Mastercard’s Country General Manager at Central MENA Adam Jones said.

Last year, Mastercard cooperated with the Central Bank of Egypt (CBE) and the Egyptian Banks Company (EBC) to implement payment card tokenization regulations issued by the CBE in Egypt which is expected to launch 2024.