In a significant move to advance Egypt’s digital payments landscape, First Abu Dhabi Bank Misr (FABMISR), one of the country’s largest banks, has announced a strategic partnership with noon payments, the fintech arm of e-commerce giant noon. The collaboration comes after noon payments secured its Payment Service Provider (PSP) license from the Central Bank of Egypt (CBE), setting the stage for enhanced digital payment solutions and a more seamless e-commerce experience for merchants and consumers.
A Strategic Alliance For Egyptian E-commerce
The partnership between the established financial institution and the dynamic fintech player is designed to support the rapid expansion of e-commerce in Egypt. By combining FABMISR’s robust banking infrastructure with noon’s innovative payment technology, the collaboration aims to deliver integrated and powerful solutions that streamline online transactions.
Mariam El Samny, Head of Consumer Banking at FABMISR, stated, “Our partnership with noon payments reflects our commitment to supporting prominent fintech players specializing in e-commerce across the Middle East and North Africa. It also reaffirms the bank’s leading position as a key player in the regional banking sector. This step represents a strategic step to develop a robust digital payments solution that supports the accelerating growth of e-commerce in Egypt.”
Empowering Merchants In A Key Market
For noon payments, this alliance is a critical step in solidifying its presence and empowering local businesses in one of its most important markets. The partnership will provide merchants with flexible and innovative tools to meet evolving consumer needs in Egypt’s fast-paced digital economy.
“We’re proud to partner with FABMISR to help shape the future of digital payments in Egypt,” said Mosam Gadia, Senior Vice President of noon payments. Mostafa Maher, Country Manager of noon payments, added, “This partnership is a step toward empowering local merchants and building a digital infrastructure that drives an inclusive digital economy.”
Driving Egypts Cashless Vision
This collaboration aligns directly with the Central Bank of Egypt’s national vision to foster a less cash-reliant society and promote financial inclusion. By strengthening the digital payments ecosystem, FABMISR and noon payments are contributing to a more efficient, secure, and innovative economic landscape, opening new avenues for growth for local businesses and merchants across the country.
About FABMISR
FABMISR, a subsidiary of the First Abu Dhabi Bank Group (FAB), is one of the largest foreign banks operating in Egypt. With a network of 73 branches, it provides leading banking products and services to a wide range of customers, including large organizations, SMEs, and consumers. FAB is one of the world’s largest and safest financial institutions, with a global network spanning five continents.
About noon payments
noon payments is a leading payments platform in the Middle East, offering a comprehensive suite of digital payment solutions for businesses and consumers. Dedicated to innovation and security, noon payments provides a seamless and trusted payment experience as the fintech subsidiary of regional e-commerce leader noon.
Source: Zawya
