Visa and MDP join forces to empower fintech growth across Egypt
Cairo, Egypt: in a strategic partnership that is set to accelerate the fintech growth in Egypt, MDP, a leading payment enabler, and Visa, a global leader in digital payments, unveiled a groundbreaking partnership designed to empower Fintechs and NBFIs throughout Egypt to seamlessly deploy their financial services and drive significant growth and innovation within the market. This partnership underscores the critical importance of fostering financial inclusivity and innovation in Egypt's rapidly evolving fintech landscape. This collaboration will transform Africa's financial landscape, unlocking economic opportunities, fostering growth, and connecting markets across the continent. By establishing a strong foundation in Egypt, it aims to spark a wave of fintech development and inspire future partnerships, envisioning a continent where innovation empowers individuals to thrive in a digital economy.
MDP, with its comprehensive suite of payment processing and issuing capabilities, has a proven track record of empowering over 40 fintechs in the region. This expertise, combined with Visa's unparalleled resources and extensive global network serves as a crucial payment channel, connecting issuers with fintechs and promoting a seamless financial ecosystem, the partnership will provide fintech companies with the necessary tools, security, and scalability to thrive in the digital payments ecosystem.
The collaboration between Visa & MDP not only highlights the commitment of both organizations to driving financial inclusion but also emphasizes the transformative impact this partnership will have on the Egyptian market. By leveraging their combined strengths, Visa & MDP aim to create a robust and seamless financial ecosystem that fosters innovation and growth, ultimately benefiting consumers, businesses, and the broader economy.
Ahmed Nafie, CEO of MDP commented 'As we looked to the future back in 2020, we recognized the rising demand for our digital payment solutions from fintechs. Since then, MDP has successfully enabled and empowered over 40 fintechs in the region, showcasing our expertise in delivering end-to-end payment solutions. This partnership with Visa marks a significant milestone in our journey, as we will be able to further enhance our payment enabling solutions to better serve the fintech industry'
Malak El Baba, Vice President and Egypt Country Manager, Visa. "As a leader in digital payments, we're committed to empowering fintechs in Egypt to achieve their full potential and drive financial inclusion. Fintechs are at the forefront of innovation in the payments ecosystem, and our partnership with MDP aims to grow the sector through enabling fintechs to seamlessly launch their payment products, allowing them to deliver better payment services in less time."
This partnership between Visa & MDP is expected to transform the fintech landscape in Egypt, driving innovation, growth, and financial inclusion.
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About MDP:
MDP is a leading card issuer & modern payment processor. It enables businesses to roll out their financial solutions with end-to-end payment infrastructure offerings – from personalized card production to financial transaction processing and digital payment solutions. MDP has been well-positioned in the market for more than 30+ years and is acknowledged for accelerating payment experiences through a tech-driven approach. MDP embraces the global adoption of innovative, scalable, and secure emerging fintech solutions that provide seamless omni-channel customer experiences. MDP is headquartered in Cairo, Egypt, and has an extended footprint in more than 40 countries globally.
About Visa:
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at About Visa, visamiddleeast.com/blog and @Visacemea
MDP
Nour Shaalan
Senior Marketing Specialist
Nour.shaalan@mdp.global
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