Home Banking & Finance ALEXBANK, Visa to launch new payment products in Egypt

ALEXBANK, Visa to launch new payment products in Egypt

The new products will provide their users with unique privileges including concierge service, buyer protection and global customer assistance services

ALEXBANK, Visa to launch new payment products in Egypt
The deal includes an exclusive partnership on debit cards, in addition to launching new consumer high-end products such as premium debit cards. Image by Kikinunchi/ Shutterstock.com

Bank of Alexandria (ALEXBANK) has extended its partnership agreement with global digital payments firm Visa for five years to boost the use of digital payment methods by the introduction of new products that target new segments in Egypt.

The agreement between ALEXBANK and Visa includes an exclusive partnership on debit cards, in addition to launching new consumer high-end products such as premium debit cards, Visa Signature Debit for the private segment and Visa Infinite Debit for the HWNW segment.

The new products will provide their users with unique privileges such as concierge service, buyer protection, extended warranty, medical and travel assistance and global customer assistance services.

“We are so excited to be expanding our partnership with ALEXBANK Through this partnership, we will continue bringing more of the latest in innovative and secure digital payments to the bank’s cardholders and support the Egyptian Central Bank’s digital commerce agenda for the country,” Malak El Baba, Egypt Country Manager at Visa.

El Baba said the convenience and speed at which digital transactions are made is what Egyptians increasingly expect and the value that digital payments bring is what keeps the digital economy growing.

For his part, Tarek Salah, Head of Retail and SMEs at ALEXBANK said the bank remains committed to offering new high-end and advanced electronic products and services to its customers.

Founded in 1957, ALEXBANK has a network of 175 branches and the bank is digitalising its services and products to advance customer experiences. Italy’s Intesa Sanpaolo Group said in September that it had commenced preliminary talks with the Egyptian government to acquire the remaining 20% of ALEXBANK it does not own.