Aman Financial Services, affiliated to Raya Holding for Financial Investments, has signed a protocol of cooperation with the National Bank of Egypt (NBE) to deploy 25,000 point of sale (POS) terminals.
The cooperation comes as part of the Central Bank of Egypt (CBE) initiative to stimulate e-payments in Egypt, rather than cash exchanges. This is in line with the Egyptian state’s economic vision to achieve sustainable development and transition to a cashless society.
Aman CEO Mohamed Wahby said the protocol falls under the CBE’s recently launched initiative to launch 100,000 POS across the country before the end of the current year.
Wahby added that his company will also deploy 25,000 additional POS in the coming six months, which would expand its currently offered services by 55,000 POS. This includes 30,000 that accept bank cards and 25,000 that are QR-Code Reader.