Banknbox and Al Ahly Momkn Join Forces to Revolutionize Payment Acceptance in Egypt

Cairo, Egypt – December 1, 2024: Banknbox, the leading platform in digital banking and payment solutions headquartered in Cairo, has announced its strategic partnership with Al Ahly Momkn for Bills and Electronic Payments. This partnership aims to provide advanced acceptance and acquiring solutions, with both parties leveraging their collaboration to introduce innovative services to the Egyptian market. The goal is to redefine the payment acceptance ecosystem for businesses and expand financial inclusion on a broader scale.

Al Ahly Momkn seeks to offer comprehensive services to merchants and businesses, targeting new and diverse customer segments. The company, currently serving over 40,000 merchants, is enhancing its range of services in collaboration with Banknbox. 

Banknbox is a leader in banking and electronic payment solutions, offering state-of-the-art systems to clients in Egypt and beyond. This initiative is part of a holistic approach to payment acceptance and acquiring services, aiming to simplify payment processes, reduce costs, and enhance customer satisfaction by delivering integrated solutions.

Banknbox provides an advanced, locally hosted, and fully integrated platform equipped with modern capabilities. This includes a range of services that ensure secure, efficient, and fast processing of all types of payments, meeting the dynamic and evolving demands of the market.

Commenting on the partnership, Bassem Mahmoud, CEO of Banknbox, said:
"Our partnership with Al Ahly Momkn marks a significant milestone in advancing the payments ecosystem in Egypt. Al Ahly Momkn brings exceptional expertise and capabilities in offering diverse services to merchants and institutions, alongside impressive recent growth. We are committed to delivering advanced solutions and new services, including SoftPOS payment acceptance, to enhance the company’s competitiveness and promote financial inclusion. This collaboration also lays the groundwork for exploring fintech services in other regional markets, which are currently under study."

Ahmed Enayat, CEO of Al Ahly Momkn, added:
"Our partnership with Banknbox aligns with our vision to deliver innovative solutions that support both existing and new merchants. As part of our strategy to provide integrated services, this collaboration reflects our commitment to establishing a modern payments infrastructure that meets market demands and customer expectations."

This partnership reinforces the nation's vision for financial inclusion through innovation and technology. Both Banknbox and Al Ahly Momkn are committed to expanding their impact in the payments sector by providing efficient solutions that contribute to business growth and promote financial inclusion across all sectors.

About Banknbox
Banknbox provides a flexible, end-to-end suite of digital services tailored to meet client needs quickly and affordably. From mobile and internet banking apps to white-label e-wallets, e-KYC, and secure card issuance and processing, Banknbox covers all key areas of digital banking. With additional offerings like chatbot/Voice Bot, open banking APIs, and solutions for automated branches, Banknbox enables banks to deliver a seamless digital experience on one powerful platform.

About Al Ahly Momkn for Bills and Electronic Payments

Al Ahly Momkn facilitates electronic payments enabling consumers, billers and service providers to accept and make payments seamlessly. We aggregate local payment providers, billers and financial institutions into one secure, compliant platform to help consumers & businesses process payments through various electronic channels conveniently.