The Banking Executive Magazine - September 2023 Issue

Visa Eyes Regional Expansion VISA EYES REGIONAL EXPANSION, INAUGURATES NEW OFFICE IN EGYPT 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 mer- chant clients, as well as local govern- ment partners, investments, and local communities to fast-track payment digitisation. The new office aims to support both local and hub priorities while provid- ing 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 of- fices in the NALP region have in- creased by 15% year-on-year (YoY) in staff strength. As cash displacement accelerates in the NALP region, Visa foresees that digital payment adoption will in- crease in a more rapid pace over the next few years while being commit- ted to supporting Egypt’s digital trans- formation 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 sig- nificant milestone in our regional ex- pansion. Visa was the first international digital payments organ- isation to begin operations in Egypt and we continue to believe in the country’s immense potential." Serhan added: “As part of our over- arching strategy for the NALP region, our new office will enable us to share our global learnings to benefit our work with local governments, finan- cial institution clients, merchants, and fintech partners to develop and deploy efficient, convenient, and se- cure processes for offline and online commerce.” Last August, Visa teamed up with aiBANK through a long-term partner- ship agreement to provide customers with an integrated package of e-pay- ment solutions. ISSUE 177 SEPTEMBER 2023 the BANKING EXECUTIVE 33