Egypt’s Housing and Development Bank (HDB) has formed a collaboration with Mastercard to develop its debit, credit, and commercial card portfolio.
In a LinkedIn post, HDB said the collaboration encompasses “several strategic areas”, including enhancements to customer experience and greater engagement with target segments.
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Under the agreement, HDB will leverage Mastercard’s technology platform and international network.
Mastercard Egypt, Iraq, Lebanon and Syria country manager Mohamed Assem said: “Egypt’s digital economy is moving fast, and collaborations like this one are what keep it moving.
“By combining Mastercard’s global technology and network with HDB’s market strength, we’re not just enhancing a card portfolio – we’re helping shape what the next generation of payments in Egypt looks like.”
HDB managing director and CEO Yehia Aboulfotouh said: “This collaboration reflects our commitment to continuously developing our banking products and services, expanding customer benefits, and delivering a distinctive banking experience.
“It also supports the sustainable growth of our card portfolio and further strengthens HDB’s position as one of the leading commercial banks in the Egyptian banking market.”
HDB was established in 1979 and operates as an Egyptian joint-stock company providing retail, commercial, investment, digital banking, and mortgage finance services. The bank is said to have more than two million customers through about 100 branches and 457 ATMs.
The partnership follows other recent regional activity for Mastercard across the Middle East and North Africa (MENA).
In Morocco, the company recently supported the launch of Samsung Pay.
Under the integration, eligible cardholders at participating banks can make contactless payments through compatible Samsung devices via Mastercard’s tokenisation platform.
