The National Bank of Egypt (NBE) and Mastercard have launched a USD Corporate Debit Card. The product will enable cross-border payments for Egyptian businesses, including large corporates and small and medium enterprises (SMEs).
The card is designed to support USD-denominated payments to international suppliers, service providers and digital platforms, using Mastercard’s global network.
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NBE deputy CEO Soha El Turky said the collaboration with Mastercard marks a “significant milestone” in its commitment to “empowering Egyptian businesses”. She added the collaboration positions businesses to participate “more fully” in the global economy. It will also support Egypt’s digital payments infrastructure, Soha El Turky stated.
Mastercard Egypt, Iraq, Lebanon and Syria country manager Mohamed Assem said: “At Mastercard, we believe that inclusive, borderless commerce is the foundation of sustainable economic growth.
“Our collaboration with NBE reflects our shared commitment to equipping businesses with the tools they need to thrive in a digital-first economy. Through our secure global payments infrastructure, we are enabling businesses to trade with confidence and thrive beyond borders.”
The USD Corporate Debit Card is available through NBE branches across Egypt.
Separately, Mastercard recently rolled out a series of enhancements to Mastercard In Control, its virtual card platform. The expanded ecosystem is designed to help businesses scale virtual card programmes more securely and efficiently.
In another recent development, Kraken launched a Mastercard crypto debit card in the UK and Europe.
