HDB, MasterCard sign partnership contract to expand electronic payment system

Daily News Egypt
2 Min Read

The Housing and Development Bank (HDB) and MasterCard signed a long-term partnership agreement aimed at providing support for the development and expansion of digital payments. It aims to achieve economic development goals, stimulate the use of electronic payments, and enhance the concept of financial inclusion.

This step is an activation of HDB’s strategic objectives, which aim to expand digital banking services and electronic payment channels with competitive advantages, in line with the state’s policy and the Central Bank of Egypt’s (CBE) initiatives to transform the society into a cashless one.

Hassan Ghanem, Chairperson and Managing Director of HDB, said that the bank believes in the importance of expanding electronic payments. This is evident in the bank’s efforts to provide various electronic services to its customers, such as internet banking, mobile banking, e-wallets, and QR Code mechanism.

Ghanem said MasterCard will be the exclusive partner for issuing all credit and debit cards of the bank. This would constitute an important step within the bank’s efforts to provide advanced banking solutions to its customers, which makes banking transactions easier and more secure for them.

Waleed Matar, Assistant Managing Director of Retail Banking and Branches at HDB, said that this agreement allows the bank to expand in the issuance of credit and debit cards, especially platinum cards, while taking advantage of a variety of exclusive benefits offered by MasterCard.

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