Arab Financial Services (AFS), a leading digital payment solutions provider in the Middle East and Africa, has launched its SoftPOS solution nationwide in Egypt. The rollout follows the granting of a license from the Central Bank of Egypt (CBE) to AFS’s Egyptian subsidiary, making it one of the first entities in the country to bring a fully licensed Tap-to-Phone solution to market.
The new solution is designed to transform any NFC-enabled Android smartphone into a secure, fully functional payment terminal. By eliminating the need for traditional and often expensive hardware, the technology offers businesses of all sizes a cost-effective and scalable method to accept contactless card payments.
Accelerating financial inclusion
The launch aligns with Egypt’s broader digital transformation goals and the rapid growth of mobile payment adoption in the region. AFS aims to simplify digital commerce and foster a more inclusive financial landscape by lowering the barriers to entry for merchants.
Samer Soliman, CEO of AFS, described the launch as a “transformative milestone” for both the company and the Egyptian market.
“This fully licensed solution allows us to instantly turn any NFC-enabled Android smartphone into a secure payment terminal, eliminating hardware costs and making digital acceptance accessible to businesses of all sizes,” Soliman said. “We view this launch as the foundation, and our immediate plan is to continuously expand its feature set and introduce innovative use cases that will further accelerate financial inclusion and power a digitally empowered economy”.
Regional footprint
Established in 1984, AFS is owned by 37 banks and financial institutions and serves over 60 clients across more than 20 countries. The company is regulated by the Central Bank of Bahrain and the Central Bank of Egypt, and licensed by the Central Bank of the UAE.
This latest expansion in Egypt adds to AFS’s portfolio of payment products, which includes open banking hubs, digital wallets, and merchant acquisition services. The company maintains offices and data centers in Bahrain, Egypt, Oman, and the UAE.
