Egyptian Payment Provider Banknbox Expands Fintech Partnerships Across 8 Countries in H1 2024

Banknbox, an Egyptian payment processor and banking solutions provider, has announced strategic partnerships with banks and fintech firms in eight countries during the first half of 2024. 

This expansion aims to solidify Banknbox’s position as a regional hub for financial and banking services, leveraging Egypt’s growing fintech sector.

With support from the Central Bank of Egypt (CBE), Banknbox has partnered with leading companies and financial institutions in diverse markets such as Iraq, Libya, Bangladesh, Moldova, Qatar and several African countries. These collaborations seek to provide a range of services through Banknbox’s digital platform in Egypt.

Bassem Mahmoud, Chairperson and Managing Director of Banknbox, acknowledged the challenges of global expansion, highlighting the need for meticulous market analysis and tailored service offerings. 

He emphasised that partnerships with local agents and international institutions have been crucial in ensuring the successful delivery of integrated services in each new market.

“We would like to thank the CBE for its continuous support in ensuring that Banknbox achieves its vision of transforming Egypt into a regional hub,” said Mahmoud, citing the country’s recent regulatory advancements for fintech companies.

Mahmoud further emphasised Banknbox’s significant investments in developing innovative services, adhering to international security standards, and establishing exclusive partnerships with global partners to provide comprehensive technical support and tailored solutions.

Credit: Zawya