Mastercard and Housing and Development Bank Partner to Accelerate Digital Payments in Egypt
Cairo, Egypt – Mastercard and Housing and Development Bank (HDB) have announced a strategic partnership aimed at developing the bank’s debit and credit card offerings and enhancing customers’ access to secure payment solutions and benefits tailored to their needs.
The partnership will focus on several strategic areas, ranging from improving the customer experience to strengthening engagement with target audiences. This collaboration will enable the bank to expand its payment services, reinforce its position in the Egyptian market, and deliver more innovative and secure payment experiences that place customers at the center of its priorities.
By leveraging Mastercard’s technology, expertise and global network, both parties aim to support the growth of Egypt’s digital economy and contribute to shaping the future of payments in the country.
Commenting on the partnership, Mohamed Assem, Mastercard’s Country General Manager for Egypt, Iraq, Lebanon and Syria, said: “Egypt’s digital economy is evolving rapidly, and partnerships of this kind are a key driver in sustaining this momentum. By combining Mastercard’s technology and global network with Housing and Development Bank’s strong market presence, we are not only developing the card portfolio but also helping shape the next generation of payment services in Egypt.”
For his part, Yehia Abou El-Fotouh, Chief Executive Officer and Managing Director of Housing and Development Bank, said: “Enhancing the customer experience is a central pillar of our strategy and a key foundation for achieving our vision of becoming one of the leading banking choices for customers in the Egyptian market. We are committed to continuous innovation, delivering distinguished banking services and strengthening customer trust.
“We value the continuation of our strategic cooperation with Mastercard, which allows us to make greater use of its advanced technologies and global network. This will strengthen our payment capabilities and support the delivery of advanced payment solutions characterized by innovation, security and convenience, while keeping pace with our customers’ evolving expectations and needs.
“This collaboration also reflects our commitment to continuously developing our banking products and services, expanding the range of benefits offered to customers, and providing them with a distinguished banking experience. Furthermore, it will support the sustainable growth of the bank’s card portfolio and strengthen its position as one of the largest full-service commercial banks in the Egyptian banking market.”
About Mastercard
Mastercard is committed to supporting economic development and empowering people in more than 200 countries and territories worldwide. Working closely with its customers, the company strives to build sustainable economies that provide everyone, everywhere, with greater opportunities to grow and prosper.
Mastercard offers a wide range of advanced digital payment solutions that facilitate financial transactions while providing high levels of security, flexibility and accessibility. Through its leading technology, innovation capabilities, strategic partnerships and global network, Mastercard delivers an integrated portfolio of solutions, products and services designed to help individuals, businesses and governments grow and reach their full potential.
www.mastercard.com
About Housing and Development Bank
Established in 1979 as an Egyptian joint-stock company specializing in housing and urban development, Housing and Development Bank has continuously expanded its activities and services over the years.
Building on more than 45 years of customer trust, the bank has consistently developed its banking and digital products and services while expanding its presence across Egypt. Today, it is one of the largest full-service commercial banks in the Egyptian banking market, serving more than two million customers through a network of approximately 100 branches and 457 ATMs.
The bank also maintains its leading position in mortgage finance in Egypt and the Middle East, while supporting commercial and investment activities that contribute to sustainable economic development in Egypt.
www.hdb-egy.com
