Central Bank of Egypt Approves AFS SoftPOS, Boosting Digital Payments Nationwide
This regulatory approval has enabled the company to launch the service nationwide, making AFS Egypt one of the first in the country to bring a fully licensed SoftPOS solution to market.
Arab Financial Services (AFS) , A premier digital payment and fintech solutions provider in the Middle East and Africa, is pleased to announce that its Egyptian subsidiary has received a SoftPOS license from the Central Bank of Egypt (CBE). This regulatory approval has enabled the company to launch the service nationwide, making AFS Egypt one of the first in the country to bring a fully licensed SoftPOS solution to market.
The AFS SoftPOS solution transforms any NFC-enabled smartphone into a secure, fully functional payment terminal, eliminating the need for expensive hardware. It offers businesses a quick, cost-effective, and highly scalable way to accept payments. By supporting all contactless cards, it is the ideal tool to meet the growing demands of Egypt’s digital economy.
“Going live with SoftPOS in Egypt is a transformative milestone for AFS 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. 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.”
– Samer Soliman, CEO, AFS
The launch aligns directly with Egypt’s remarkable growth in mobile payment adoption. AFS’s solution makes it easier than ever for businesses to accept payments, simplifying digital commerce and building a more accessible and inclusive financial landscape for all.
