Cairo, Egypt – Arab Financial Services (AFS), the leading provider of digital payment solutions and fintech enabler in the Middle East and Africa, has announced plans to expand its payment footprint in Egypt, with the creation from its Egyptian hub. AFS (Egypt) will provide the latest payment solutions and innovations to businesses and financial institutions in the country.
AFS Managing Director, Samer Soliman, said, “The unprecedented growth of the Egyptian market over the past few years has provided all players in the payments ecosystem with opportunities to grow regionally. Conquering new markets is only the first step in our ambitious growth strategy. However, it’s not just about expansion for us, it’s just as much about being there to serve our customers on a local basis, or regionally for those of our customers with a wider geographical spread, with a genuine concern for providing quality service and making it easier for our customers to transact.
He added: “Entering the Egyptian market reflects its importance and potential. It also aligns with AFS’ vision to become the leading enabler of digital transaction transformation in the Middle East and Africa region.
In this context, he announced that: “The AFS Board of Directors has appointed Tawfik Mahmoud, an experienced payments expert with a proven track record, to take on the challenge of leading the AFS team in Egypt.”
Commenting on his new appointment, Tawfik said, “It is a real privilege for me to take on this role for what I consider to be the leading payment solutions provider in the region with a culture of innovation, thought leadership and a true customer focus I intend to provide both mass payment solutions and bespoke payment solutions to reflect the many types of businesses that operate in Egypt and to leverage the wealth and the scope of products and services that AFS has brought and brings to the payments market.
Based in Cairo, Tawfik Mahmoud will be responsible for leading the company’s strategy in Egypt, developing the team across the country, supporting its growth and scaling Egyptian merchant clients across all sectors and industries.
As the brainchild of the banking industry in the MENA region, Arab Financial Services (AFS) exists to empower businesses and consumers by exploring, innovating and investing in superior technologies that help shape the future of financial experiences. . A subsidiary of Bank ABC, AFS is owned by 37 banks and financial institutions and serves more than 60 customers in more than 20 countries. Today, we are the region’s leading digital payment solutions provider and Fintech enabler. Regulated by the Central Bank of Bahrain, our groundbreaking end-to-end payment services and solutions cover card processing, merchant acquiring, Fintech and a suite of state-of-the-art value-added services. Our dedication to innovation has positioned us as a market driving force offering a rich portfolio of payment solutions, including popular digital mobile wallets; market-leading merchant acquiring services; Al Rateb, Bahrain’s leading digital payroll solution; Global contact centers and more. Providing the highest quality payment solutions trusted by businesses, we have been recognized as “Best New Payments Solutions for MSMEs Business Bahrain 2022” by Global Business Magazine, “Leading Payments Innovator Bahrain 2021” by World Business Outlook and “Best Payment Solution Provider Bahrain 2021” by Global Banking & Finance Review.
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