ALEXBANK awarded ‘Best Co-Branded Card’ for Liverpool FC cards and the ‘Highest Growth Rate’ award for “Ma7fazty” in 2019 by Mastercard
Cairo, Egypt – March 2nd, 2020 - ALEXBANK seized two ‘Mastercard’ awards in recognition of its achievements in the Egyptian banking sector throughout 2019. The awards recognized the outstanding results achieved by the Liverpool FC card range and the distinguished growth reached by the “Ma7fazty” mobile application.
The first award received by ALEXBANK is the ‘Best Co-Branded Card’ in Egypt in 2019. The award celebrated the bank’s collaboration with Mastercard and Liverpool FC, for which ALEXBANK is the official card partner in Egypt. The card achieved unprecedented growth rates within the bank’s card portfolio. During that period, the number of cards issued virtually doubled, while the spending growth, both domestic and cross border, more than tripled.
Mastercard also honored ALEXBANK for launching the electronic wallet ‘Ma7fazty’. The wallet demonstrated excellence in the digital space, recording an exceptional growth of over 120% in 2019 and securing its position as a leading growth rate in the Egyptian market during the past 3 years in terms of total number of financial transactions. The launch of the wallet was widely embraced by customers in Egypt who used it as their go-to for their daily financial transactions, resulting in a X3 growth of the total value of transaction in 2019 vs. 2018.
Sherif Lokman, Head of the Retail Banking and SMEs Division at ALEXBANK, expressed his gratitude saying, “We are delighted to be awarded by Mastercard, our strategic partner in launching the Liverpool FC card range and the Ma7fazty App. The services achieved unprecedented success, helped drive business growth and paved the transformation to a cashless society in Egypt. Through our partnership with Mastercard, we succeeded in transforming the Liverpool FC card range from just a payment method to a source of exclusive benefits for ALEXBANK’s customers encouraging them to adopt electronic payments instead of cash.”
Lokman added, “Ma7fazty is a highly effective platform which brings us a step closer to achieve financial inclusion in Egypt. The app facilitates payments and allows customers to adopt the use of e-wallets for their daily payments’ needs. Ma7fazty also plays a key role in achieving digital transformation and the creation of a cashless society.”
Commenting on the award, Magdy Hassan - General Manager, Egypt and Pakistan, Mastercard, said: “At Mastercard, we are committed to leveraging our vast expertise, as well as our innovative services and products to drive seamless, faster, and safer payments across the country, in order to achieve financial and economic inclusion for all. We are further delighted to see one of our key partners, ALEXBANK, contributing to this goal, which is evident in their impressive results for the Liverpool FC card range and Ma7fazty e-wallet in 2019. In addition, our collaboration with ALEXBANK has resulted in heightened consumer confidence in e-payments witnessed in the overall number and value of transactions by payment cards and e-wallets."
It is also worth mentioning that ALEXBANK signed a multi-year contract agreement with Liverpool FC, one of the leading Premier League clubs in the world, in 2017. Liverpool FC cards allow customers to participate in unique experiences, such as attending Liverpool matches at the legendary “Anfield” stadium and having the chance to win Liverpool FC merchandise provided by the club's official store. Liverpool FC card holders can also enjoy a wide array of discounts from the well renowned brands inside and outside Egypt. The bank facilitates the customer experience by presenting a range of Liverpool FC cards, in cooperation with Mastercard, to its customers to meet their needs. This includes five cards, three debit and two credit cards. Furthermore, the Liverpool FC cards have a distinguished design, featuring photos of Liverpool FC players and global football icon, Mohamed Salah, who is the official ambassador of ALEXBANK.
Launched in 2016, “Ma7fazty” was introduced in collaboration with Mastercard and Fawry to enable ALEXBANK’s customers to conduct and monitor their daily financial payments seamlessly. The app offers money transfers, bill payments, donations, top-up and payment of communication services. It also allows withdrawing or depositing money through any ATM that supports ‘card-less services’, Fawry outlets, or ALEXBANK’s branches. Finally, customers can link their debit and credit cards with ‘Ma7fazty’ to charge their wallets.
Established in 1957, ALEXBANK is today one of Egypt’s leading private sector banks, participated by the Intesa Sanpaolo Group since 2007. ALEXBANK owns one of the largest private sector branch networks with a total of 176 branches located in every major Egyptian governorate employing over 4,500 individuals who proudly serve about 1.5 million customers, playing a vital role in Egypt’s economic present and future. ALEXBANK actively serves the widest spectrum of segments by providing value added financial products, services and solutions to Retail, Small Business, Medium and Corporate Enterprises. ALEXBANK is currently in the midst of a radical digital transformation aimed at providing our customers with the most unique of banking experiences, via our seamless multi-channel experience incorporating Internet & Mobile Banking, Cards, Electronic wallets, and the latest generation of point-of-sale & ATMs, all powered through the power of Big Data and empowered by key players in the Fintech ecosystem.