AAIB lends support to Egypt’s cashless economy drive

Daily News Egypt
3 Min Read
Dina Zikry, Head of Consumer Banking at the AAIB

The Arab African International Bank (AAIB) has announced that it will offer Egyptian merchants the opportunity to use the state-of-the-art N-Genius™ acceptance platform, to support their payment needs.

The move comes in support of the accelerated drive towards a cashless society, which was set up by the Central Bank of Egypt (CBE) in light of the novel coronavirus (COVID-19) pandemic.

The announcement follows the AAIB’s agreement with Network International, the leading enabler of digital commerce in the Middle East and Africa (MEA) region, and developer of the Android-based N-Genius™ payment platform.

Through N-Genius™, the AAIB’s merchant clients in Egypt will be able to accept payments via all major credit cards. These include ‘Meeza’ cards, Egypt’s national debit card, and contactless mobile wallets such as Apple Pay or Samsung Pay.

The AAIB initiative comes in response to a growing shift in consumer purchasing behaviours towards contactless transactions and online purchases. Governments worldwide have also been encouraging safety precautions and social distancing measures, with contactless transactions a part of this. 

N-Genius™ is an omni-channel platform with intuitive payment technology, designed to create better customer experiences via a safe, secure and seamless checkout. The platform has been designed to keep pace with the fast-changing payments landscape.

It offers merchants fast access to the latest capabilities with minimum intervention, and is equipped to handle new payment solutions in the future. The N-Genius™ platform also supports e-commerce via its cloud-based payment gateway, that enables seamless online payments and offers web store capability.

Dina Zikry, Head of Consumer Banking at the AAIB, said, “The bank’s renovated strategy focuses primarily on quick responsiveness to market shifts by incorporating technology within all banking aspects.”

“That’s why our interest in acquiring N-Genius payment platform was timely,” she added, “N-Genius payment devices make it easier than ever to get paid, and it is supported by Android and fortified with the ability to accept several different forms of payment.”

Zikry added that this terminal can be integrated with all systems, while utilising mobile connectivity including 3G and Wi-Fi. It allows for quick and remote updates to be made, and which are available and possible 24/7.

Hany Fekry, Managing Director at Network International
Hany Fekry, Managing Director at Network International

Hany Fekry, Managing Director at Network International – Egypt, said, “Our partnership with the AAIB reflects Network International’s commitment to helping Egyptian businesses adapt to changing payment trends and transition seamlessly to accepting digital payments.”

He added, “N-Genius has been developed in the region to global standards, offering Egyptian merchants a competitive edge with its intelligent, user-friendly technology, omni-channel capability and robust security features.”

Fekry noted that N-Genius offers merchants flexibility and scalability ensuring they remain ready to accept payments anywhere their business takes them, and without business interruption.

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