Arab Financial Services launches payment acquiring and acceptance services in Egypt

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Cairo – Innovative payment platform Arab Financial Services (AFS) has launched its acquiring payment services in Egypt.

The launch will enable Egyptian businesses to leverage AFS payment services, offering faster, cost-effective and data-enriched solutions, according to a press release issued on Thursday.

Egypt-based businesses can now take advantage of AFS’ core offerings, including payment acceptance, dynamic currency conversion, data and artificial intelligence (AI). The full suite of AFS payment products includes software point of sale, expense management, online payment acceptance capabilities, issuance processing services and wallets.

AFS has already onboarded 15 traders to its platform after gaining approval from the Central Bank of Egypt (CBE) earlier this week.

Samer Soliman, CEO of AFS, said, “We are excited to expand our services to Egypt, a natural next step after establishing a strong presence in our home markets as we started in the Kingdom of Bahrain and we quickly expanded to Oman and now Egypt to serve our customers.

Regulated by the Central Bank of Bahrain (CBB), AFS offers many end-to-end digital payment services and solutions. These cover debit, credit and Islamic card processing, merchant acquiring, financial technology (FinTech) and a suite of industry-leading value-added services.

In addition to the Egyptian offices in New Cairo, AFS has offices and data centers in Bahrain, the United Arab Emirates and Oman.

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Elaine R. Knight