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FinanceNBE and Mastercard launch USD corporate debit card in Egypt
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The National Bank of Egypt (NBE) and Mastercard have launched a USD Corporate Debit Card designed to facilitate cross-border payments for Egyptian businesses, including large corporates and small and medium enterprises (SMEs). The card supports USD-denominated payments to international suppliers, service providers, and digital platforms via Mastercard's global network. NBE deputy CEO Soha El Turky called the collaboration a significant milestone in empowering Egyptian businesses and supporting Egypt's digital payments infrastructure. Mastercard's country manager for Egypt, Iraq, Lebanon, and Syria, Mohamed Assem, emphasized that inclusive, borderless commerce is key to sustainable economic growth. The card is available through NBE branches across Egypt. The article also briefly mentions separate Mastercard virtual card platform enhancements and a Kraken crypto debit card launch.
Source report
The National Bank of Egypt (NBE) and Mastercard have introduced a USD Corporate Debit Card, designed to facilitate cross-border payments for Egyptian businesses, including large corporations and small and medium enterprises (SMEs).
The card supports USD-denominated payments to international suppliers, service providers, and digital platforms through Mastercard's global network.
Key Statements
Soha El Turky, Deputy CEO of NBE, described the collaboration with Mastercard as a "significant milestone" in the bank's commitment to "empowering Egyptian businesses." She noted that the initiative positions businesses to participate "more fully" in the global economy and supports Egypt's digital payments infrastructure.
Mohamed Assem, Country Manager for Mastercard in Egypt, Iraq, Lebanon, and Syria, stated:
"At Mastercard, we believe that inclusive, borderless commerce is the foundation of sustainable economic growth. Our collaboration with NBE reflects our shared commitment to equipping businesses with the tools they need to thrive in a digital-first economy. Through our secure global payments infrastructure, we are enabling businesses to trade with confidence and thrive beyond borders."
Availability
The USD Corporate Debit Card is available through NBE branches across Egypt.
Related Developments
- Mastercard recently rolled out enhancements to Mastercard In Control, its virtual card platform, aimed at helping businesses scale virtual card programmes more securely and efficiently.
- In a separate development, Kraken launched a Mastercard crypto debit card in the UK and Europe.
This article was originally created and published by Electronic Payments International, a GlobalData owned brand.
Source
Yahoo FinanceNeutral / independent
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Mastercard and NBE introduce USD corporate debit card in Egypt