Egyptian Banks Company (EBC) signs a Memorandum of Understanding with UnionPay, witnessed by the Central Bank of Egypt and China. The MOU is in place to promote widespread UnionPay card acceptance at ATMs and POS terminals across Egypt and with the plan to launch joint marketing campaigns to boost UnionPay card usage in Egypt. The partnership aims not only to serve the increasing number of Chinese tourists visiting Egypt but also to effectively enhance Egypt’s local international payment service level.

Eng. Tarek Raouf (Executive Chairman and CEO of EBC) commented that, EBC has forged strategic partnerships with leading international networks to expand acceptance, and the continued partnership with UnionPay will foster the progress on this course. Leveraging its robust infrastructure, profound expertise, EBC is well positioned to enhance the payment experience for the Chinese visitors and professionals working in Egyptian Industrial zones. Through EBC’s advanced platform and in continuous coordination with UPI, this partnership shall facilitate broader acceptance of UnionPay-issued cards, deliver greater convenience and accessibility for international cardholders.

Dong Junfeng, Chairman of China UnionPay stated that this cooperation with EBC is an important manifestation of UnionPay’s strategy to deepen its localization development in Africa. The partnership aims not only to serve the increasing number of Chinese tourists visiting Egypt but also to effectively enhance Egypt’s local international payment service level. UnionPay will continue to strengthen cooperation with various African institutions, promote innovation in the payment sector, and contribute to building a closer China-Africa community with a shared future.