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Visa eyes regional expansion, inaugurates new office in Egypt

Visa eyes regional expansion, inaugurates new office in Egypt
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Mubasher: Global digital payments leader Visa has opened a new office in Egypt in addition to announcing plans to expand its operations across the North Africa, Levant, and Pakistan (NALP) region, according to a press release.

Egypt’s new purpose-built facility is designed entirely around the needs of employees as it allows a hybrid work environment. It further supports Visa’s financial institution and merchant clients, as well as local government partners, investments, and local communities to fast-track payment digitisation.

The new office aims to support both local and hub priorities while providing local talent with a chance to grow their careers and attain world-class skillsets.

Egypt Country Manager at Visa, Malak El Baba, said: “The launch of Visa’s office in Egypt follows a series of breakthrough partnerships with the public and private sectors to launch innovative payment products to design and deliver the payment options consumers in Egypt seek.”

It is worth mentioning that Visa offices in the NALP region have increased by 15% year-on-year (YoY) in staff strength.

As cash displacement accelerates in the NALP region, Visa foresees that digital payment adoption will increase in a more rapid pace over the next few years while being committed to supporting Egypt’s digital transformation to a cashless economy.

Visa’s Vice President and Group Country Manager for NALP, Leila Serhan, noted: "The expansion of our flagship office in Egypt marks a significant milestone in our regional expansion. Visa was the first international digital payments organisation to begin operations in Egypt and we continue to believe in the country’s immense potential."

Serhan added: “As part of our overarching strategy for the NALP region, our new office will enable us to share our global learnings to benefit our work with local governments, financial institution clients, merchants, and fintech partners to develop and deploy efficient, convenient, and secure processes for offline and online commerce.”

Last August, Visa teamed up with aiBANK through a long-term partnership agreement to provide customers with an integrated package of e-payment solutions.