ADIB Egypt and Simplifi Partner to Widen the e-Payments Ecosystem in Egypt

ADIB Egypt and Simplifi Partner to Widen the e-Payments Ecosystem in Egypt

ADIB Egypt, one of Egypt’s most forward-thinking and digitally focused sharia-compliant banks, has signed a partnership agreement with SimpliFi, the leading Cards as a Service (CaaS) platform for banking and fintech industries in MENA and Pakistan, to help accelerate payment digitization for Egyptian businesses.

The partnership underscores both companies’ commitment to continuous innovation, introducing phenomenal services and solutions to Egypt’s Banking and Fintech industries. It introduces SimpliFi’s innovative CaaS model to Egypt by combining SimpliFi’s deep technology and domain experience, as well as strong client relationships, with ADIB-expertise Egypt in digital banking and understanding of the wider banking ecosystem.

SimpliFi and ADIB Egypt will collaborate to help companies issue scheme-enabled prepaid cards by lowering the cost of launch and time to market.

Mohamed Aly, CEO and Managing Director of ADIB-Egypt, commented on the partnership, saying, “As we continue to relentlessly accelerate and advance our digital transformation strategy, ADIB-Egypt looks forward with great enthusiasm to a progressive partnership with SimpliFi.” We will redefine payment digitization together, assisting businesses in taking their financial transactions to the next level and inducing a slew of benefits that extend beyond business to drive economic mobilization.”

“Our collaboration with this innovative platform with a solid record of firsts, allows us to empower Egyptian companies by issuing payment cards as a gateway to more integrated financial digitization, aligning with the Central Bank of Egypt’s vision towards expanding the efficiency and use of e-payments,” Aly added.

What the Other Stakeholders are Saying

“ADIB Egypt is at the forefront of digital banking innovation in Egypt, working closely with Fintech companies and technology startups to bring market first’ propositions to the Egyptian market,” said Ali Sattar, Founder and CEO of SimpliFi. We couldn’t have found a better partner to bring our unique CaaS model to market in Egypt as the first.”

Sattar also stressed how honored they were to partner with a progressive bank like ADIB-Egypt to help Egyptian businesses drive payment innovation and efficiency.

Furthermore, with this partnership, the bank hopes to continue expanding its portfolio of cutting-edge digital solutions for customers, particularly businesses, allowing them to issue, manage, and run their card programs.

“Our partnership with SimpliFi is a critical step along our digitization journey,” said Ahmed Effat, Consumer Banking Head at ADIB-Egypt. Its value will not be limited to leveraging the company’s integrated expertise in technology and digital payments, but will also include its extensive network of relationships with Egyptian companies as well as startups from the Middle East and North Africa looking to enter the Egyptian market.”

Effat stated that the collaboration with SimpliFi will create and activate unprecedented digital solutions by leveraging the platform’s capabilities to speed up and streamline processes, improving customers’ financial experiences in line with a rapidly evolving digital payment ecosystem.