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FinanceMastercard and NBE launch USD corporate debit card in Egypt
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Mastercard and the National Bank of Egypt (NBE) have launched a USD Corporate Debit Card aimed at facilitating cross-border payments for Egyptian businesses, including large corporates and 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 the country's digital payments infrastructure. Mastercard's Egypt country manager Mohamed Assem emphasized the role of inclusive, borderless commerce in sustainable economic growth. The card is available through NBE branches across Egypt. The article also briefly notes recent Mastercard developments, including enhancements to its virtual card platform and a crypto debit card launch with Kraken in the UK and Europe.
Source report
By: Aninda Chakraborty Source: Electronic Payments International
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, leveraging Mastercard's global payment 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 partnership positions businesses to participate "more fully" in the global economy and supports the development of 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