This investment marks a significant step forward for AFS in the Egyptian market.
Manama, Kingdom of Bahrain, April 25, 2024: Arab Financial Services (AFS), a leading force in digital payments across the Middle East and Africa, has strategically expanded its footprint in Egypt with the inauguration of a brand-new data center. This investment marks a significant step forward for AFS in the Egyptian market, fueling their growth trajectory in two key ways: Accelerated Expansion, the secure and reliable data center, empowers AFS to rapidly scale their business operations within Egypt, and Enhanced Reach, building on their established presence since 2022, allows AFS to now extend their trusted payment processing services to a wider range of Egyptian businesses, banks, and financial institutions.
AFS boasts an impressive track record, currently serving over 60 banks in more than 20 countries across the Middle East and Africa by offering advanced payment solutions, and this new data center positions AFS to become a dominant player in the Egyptian market.
“For four decades, AFS has been a driving force in payments technology, pioneering innovative digital solutions that empower businesses, banks, and consumers throughout the Middle East and Africa,” said Samer Soliman, CEO of Arab Financial Services. “Our new Cairo data center represents a strategic leap forward. It provides a robust and scalable foundation for our existing merchant acquisition business while simultaneously serving as a platform for our comprehensive issuer payment processing services in Egypt. This investment underscores our commitment to the dynamic Egyptian market. We aim to be a key partner in the banking sector’s digital transformation by delivering agile, secure, and seamless payment solutions that unlock new opportunities for all stakeholders.”
AFS’s portfolio of payment processing products and services includes versatile card solutions such as credit, debit, prepaid, contactless, virtual, and tokenized cards, as well as ATM driving and switching. It also includes commercial and shariah-compliant cards, digital wallets, and gift cards, ensuring convenience and security with every payment. AFS’s USP also includes optimizing business performance with state-of-the-art security features such as real-time fraud monitoring, data streaming and analytics, and 24/7 operational and customer support.
Tawfik Mahmoud, Managing Director of AFS Egypt, said, “We are committed to investing in the country’s technology infrastructure and its human talent. Building on the capabilities that this new data center affords our business, AFS’s human capital investment is a priority that will set the pace for our accelerated growth across business lines in Egypt. Our workforce is estimated to reach almost 300 Egyptian payment professionals by year-end, and this will cement AFS’s reputation for delivering the best experiences and highest quality payment expertise for our customers.”
The launch of this innovative data center, complemented by a primary disaster recovery (DR) site featuring the latest payment applications—switches, card management systems, and more—is part of AFS’s ongoing dedication to industry-leading infrastructure and advanced technologies that further solidify its position as the preferred partner for Egyptian businesses and underscore the critical importance they place on the Egyptian market.
Regulated by The Central Bank of Bahrain and The Central Bank of Egypt, AFS is owned by a total of 37 banks and financial institutions and serves over 60 clients in more than 20 countries across the Middle East and Africa region. The company provides numerous ground-breaking end-to-end digital payment products, services, and solutions to banks and merchant groups. AFS’s innovative approach to the provision of financial services is evidenced by a series of market-leading payment services that span card processing services, merchant acquisition, fintech solutions, and value-added services.
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