Banknbox Egypt, a leading provider of Banking-as-a-Service (BaaS) solutions for banks and financial institutions, has announced the expansion of its integrated digital services — most notably its SoftPOS solutions. These solutions enable banks and payment acquirers to offer mobile payment acceptance services easily and securely, without the need for traditional POS terminals.
This expansion comes as part of Banknbox’s strategy to deliver a comprehensive ecosystem of solutions that includes merchant management systems, reconciliation and settlement tools, and transaction routing to local and international networks. The company also integrates payment acceptance technology with banks’ existing merchants and corporate channels, enhancing banks’ ability to provide more flexible and innovative services to their merchants and business clients.
Over the past two years, the company has made significant investments in developing its technical infrastructure and enhancing security levels. Banknbox has obtained the global mPOC security certification for mobile payment protection — becoming one of the few companies worldwide to achieve this milestone It has also developed new services such as TTOD (Tap To Own Device), which allows customers to use their own phones to make payments instead of using merchants’ devices.
Commenting on the announcement, Eng. Bassem Mahmoud, CEO of Banknbox Egypt, said:
“As a united team, we are proud of what we have achieved in building a fully integrated technological ecosystem that meets the highest international standards of security and quality. Our expansion in SoftPOS services aligns with our vision to support the Egyptian banking sector’s digital transformation journey, empowering it to deliver innovative payment solutions that simplify customers’ lives and promote financial inclusion. We also aim to position Egypt as a regional hub for exporting payment technologies to Arab and African markets.”
Bassem added that Banknbox is currently providing SoftPOS services to more than 6 leading companies in the Egyptian market in partnership with national banks, with additional discussions underway with several other companies and local banks to launch the service soon.
The company is also working to establish its headquarters in Egypt as a regional hub for exporting payment and digital banking solutions to countries across the region and Africa. Banknbox currently offers a portfolio of more than 40 digital banking services to banks and financial institutions in over 9 countries, including Iraq, Libya, Qatar, and several African and European markets, with further expansion plans to be announced soon.
This direction is fully aligned with Egypt’s Vision 2030, which aims to position Egypt as a regional leader in financial technology and digital service exports, with strong support from the Central Bank of Egypt to enhance the role of the private sector and promote reliance on national payment systems — building on the significant progress achieved in the banking, telecommunications, and data infrastructure sectors over recent years.