eFinance Investment Group, as a leading group in digital payments and financial services, has signed a cooperation agreement with Giesecke+Devrient (G+D) Mobile Security Iberia, the company specialized in banking cards and electronic payment solutions, with the aim of enhancing their joint cooperation within the Arab Republic of Egypt.
As part of its approach for the ongoing development and upgrade of its portfolio range to offer unique products and to serve the Egyptian sector by end-to-end solutions, eFinance Investment group is willing along with G+D to extend and explore their cooperation through different synergies. The advantages of such arrangement include leveraging the strengths of the business of each company that can create market opportunities by launching competitive services through eFinance state of art personalization and data centers in Egypt, card processing services and G+D top quality products for the Egyptian market.
The agreement was signed by Mr. Ibrahim Sarhan, Chairman of the Board of Directors of e-Finance Investment Group, and Mr. David Gonzalez, Vice President of G+D and Sales Director for Southern and Western Europe, Africa and the Middle East.
Mr. Ibrahim Sarhan, Chairman of the Board of Directors of e-Finance Group for Financial and Digital Investments, expressed his pride in cooperating with G+D, as one of the world’s leading players in the field of smart card technology and solutions for the banking sector, stressing that this joint cooperation will maximize the value added by both institutions to best serve the banks and to significantly support the electronic payments and digital transformation in the Egyptian market, as it provides a number of new services that are most reliable in the world. He also added that both companies look forward to exploring the possibilities of expanding their cooperation in other markets in the region in addition to Egypt.
Mr. Gonzalez stated that he highly appreciates the cooperation with e-Finance Group, as the leading Egyptian company for digital transformation, especially because the agreement provides a great opportunity to offer innovative and diverse digital solutions to the market in Egypt.
The strategic alliance emphasizes the possibilities of supplying standard PVC Cards in addition to eco-friendly and premium cards, along with personalization and processing to the banks and startups through e-cards one of EFIG subsidiaries. Moreover, launching new issuance and digital solutions in the Egyptian market to be introduced and hosted in eFinance Group. Such solutions range from Instant Issuance that can be offered as a service through desktop personalization machines or self-service kiosks that can be deployed at the digital branches of the banks to be connected to eFinance hub, in addition to other innovative services that provides online card activation through mobile phone and e-payment solutions for the closed communities like universities, clubs, etc.
Giesecke+Devrient (G+D) is a global security technology group headquartered in Munich. As atrusted partner to customers with the highest demands, G+D secures the essential values of theworld with its solutions. The company develops technology with passion and precision in fourmajor playing fields: payment, connectivity, identities and digital infrastructures.
G+D was founded in 1852. In the fiscal year 2021, the company generated a turnover of 2.38 billion euros with around 11,800 employees. G+D is represented by 89 subsidiaries and jointventures in 33 countries.
