Cairo, Egypt – December 2, 2024
BanknBox, a leading digital banking and payment solutions platform based in Cairo, has announced a strategic partnership with Al Ahly Momkn, a prominent e-payments and fintech company in Egypt. This collaboration aims to revolutionize payment acceptance services across the country through advanced technology and innovative solutions.
The partnership focuses on introducing an advanced acquiring solution that leverages cutting-edge “SoftPOS” technology, enabling merchants to accept payments directly via smartphones equipped with NFC technology. By the end of 2025, the partnership targets onboarding over 40,000 merchants, transforming the payment ecosystem for businesses in Egypt.
“This partnership reflects our vision to provide innovative solutions that support merchants,” said Ahmed Enayat, CEO of Al Ahly Momkn. “The integration of SoftPOS technology into our acquiring services demonstrates our commitment to building a modern payment infrastructure that aligns with market aspirations and customer needs. Together with BanknBox, we aim to simplify payment processes, reduce costs, and enhance customer satisfaction.”
BanknBox’s locally hosted platform offers advanced capabilities, including certified contactless point-of-sale (cPOC) and mobile point-of-sale (mPOC) services. These features ensure fast, secure, and efficient payment processing, meeting the evolving needs of businesses and promoting financial inclusion.
“Our partnership with Al Ahly Momkn is a milestone in developing Egypt’s payment system,” said Bassem Mahmoud, Chairman of BanknBox. “By providing advanced acquisition solutions, including SoftPOS technology, we empower businesses to compete more effectively and contribute to greater financial inclusion.”
The collaboration is aligned with Egypt’s vision of financial inclusion and economic growth through technology and innovation. Both companies are committed to expanding their impact within the payments sector by offering effective solutions that drive business growth and support financial inclusion across all segments.
This partnership signifies a shared ambition to reshape Egypt’s payment landscape and enhance the experiences of merchants and customers alike.