Misr Digital Innovation (MDI) is one of Banque Misr Companies, established by the approval of the Central bank of Egypt to set up all infrastructure and related business systems to initiate the first greenfield digital bank in Egypt with the support of the Central bank of Egypt to boost financial digital solutions and services.
Masria Cards & Digital Payments will aim to provide cards issuance services, including embossing, card personalization, data preparation setup, BIN setup, and key management activity.
Cairo, Egypt, 19 October 2021: Misr Digital Innovation (MDI) today announced its collaboration with Masria Cards & Digital Payments (MDP), the leading cards manufacturer in Africa and the Middle East. MDP will offer a complete card ecosystem to MDI, starting from the card design and choosing payment schemes up to packaging, sorting, and production material.
The launch of a native digital bank in Egypt is set to transform the banking industry and it truly underlines our leading position in this domain, stated Sherif Elbehery, Chief Executive Officer of Misr Digital Innovation. We are proud to collaborate with Masria Cards &Digital Payments for this market-defining innovation and use their expertise to provide us with a complete card ecosystem.
It gives me great pleasure to collaborate with Misr Digital Innovation that is behind creating an innovative digital bank in Egypt, said Ahmed Nafie, Executive Vice President of Masria Cards Digital Payments. We always strive to provide the best-advanced solutions and services with the latest technology in both card manufacturing and digital payments industry.
This strategic collaboration is projected to have an incredibly positive impact on both the economy and customer satisfaction.
Masria Cards &Digital Payments will help us in our journey by providing all types of cards with the finest technology, quality, and best turnaround time in the market, said Moataz Ezzat, Chief Operating Officer of Misr Digital Innovation. Dealing with a market leader in providing a complete ecosystem ensures we have the best international standards in place for our future customers.
Undoubtedly, our collaboration with Misr Digital Innovation will deliver great results; added Ahmed Hammam, Global senior Sales Manager at Masria Cards Digital Payments. & We will continue to serve our customers with unparalleled services to fulfil all their needs and requirements.
MDI aims to pave the way for other banks to follow suit in the digitization and transformation of the banking ecosystem for Egypt, while MDP seeks to empower more financial institutions in the region to issue payment cards physically or virtually to strengthen its position as a market leader.
Misr Digital Innovation is an Egyptian Joint Stock Company incorporated in accordance with the Egyptian Company law no. 159/1981 and its amendments, commercial register no. 147482 issued from Cairo Investment Office, is one of Banque Misr Companies, established in accordance with the approval of the Central bank of Egypt to initiate the first greenfield digital bank in Egypt.
Masria Cards &Digital Payments has been at the forefront of manufacturing cards for more than 35 years, developing the latest technologies to lead the electronic payments market in Egypt, Africa, and the Middle East.