Mastercard and Egypt’s Housing and Development Bank (HDB) have entered into a strategic partnership to expand the bank’s card payment services and introduce additional benefits for retail and business customers.

Under the agreement, HDB will use Mastercard’s global payment network and technology to develop its debit, credit and commercial card portfolios. The collaboration will also focus on improving payment security, expanding customer benefits and introducing services tailored to different customer groups.

The partnership forms part of HDB’s efforts to strengthen its banking products and increase the use of digital payment services across Egypt.

Partnership Focuses on Card Development and Customer Benefits

The two organisations will work together to improve HDB’s existing card offerings while developing additional payment features and customer benefits.

The agreement also covers premium banking experiences and services designed for selected customer segments, reflecting the bank’s plans to serve a wider range of individual and commercial customers.

Yehia Aboulfotouh, Chief Executive Officer and Managing Director of HDB, said the partnership supports the bank’s plans to improve its products, expand customer benefits and strengthen its position in Egypt’s banking market.

He added that working with Mastercard would support the continued development of HDB’s card business and its long-term growth plans.

Mastercard Strengthens Presence in Egypt’s Payments Market

For Mastercard, the agreement extends its cooperation with financial institutions in Egypt as banks invest in digital payments and card-based services.

Mohamed Assem, Country Manager for Egypt, Iraq, Lebanon and Syria at Mastercard, said the partnership brings together Mastercard’s international payment capabilities and HDB’s domestic banking presence.

He highlighted the importance of cooperation between banks and payment technology providers in supporting the development of Egypt’s digital payments sector.

The agreement comes as Egyptian financial institutions continue to develop electronic payment services and improve access to digital banking products.

For HDB, the collaboration provides access to Mastercard’s payment infrastructure and technology as it expands its card portfolio.

The companies have not disclosed the financial terms of the partnership or a timetable for introducing the planned services.

The next stage will involve developing the agreed card offerings and customer benefits, with their commercial impact depending on customer adoption and the bank’s ability to expand its payments business.