AFS Egypt Launches Fully Licensed SoftPOS Solution Following Central Bank Approval
Arab Financial Services (AFS) Egypt, a leading provider of digital payment solutions and a key fintech enabler across the Middle East and Africa, has announced the launch of its SoftPOS solution nationwide after obtaining official approval from the Central Bank of Egypt.
The regulatory authorization positions AFS Egypt among the first companies to introduce a fully licensed SoftPOS solution to the Egyptian market.
The AFS SoftPOS solution transforms any NFC-enabled Android smartphone into a secure, fully functional point-of-sale terminal, eliminating the need for traditional, high-cost POS hardware. The solution enables merchants to accept contactless card payments quickly, securely, and cost-effectively, offering a scalable alternative that aligns with the rapid expansion of Egypt’s digital economy.
Designed to support all major contactless cards, AFS SoftPOS provides businesses with a flexible payment acceptance tool that reduces operational barriers and accelerates digital adoption, particularly for small and medium-sized enterprises seeking affordable and easy-to-deploy payment technologies.
Commenting on the launch, Samer Suleiman, Chief Executive Officer of AFS, said that the introduction of SoftPOS in Egypt marks a significant milestone for both the company and the local payments ecosystem. He noted that the fully licensed solution allows any NFC-enabled Android device to instantly function as a secure payment terminal, removing hardware costs and making digital payment acceptance accessible to businesses of all sizes. He added that the launch represents a foundation for further innovation, with plans to continuously expand features and introduce new use cases that support financial inclusion and contribute to building a strong digital economy.
The launch comes amid strong growth in mobile-based payment adoption across Egypt. By enabling seamless digital payment acceptance, AFS aims to simplify commercial transactions, enhance efficiency for merchants, and support the development of a more inclusive and accessible financial ecosystem nationwide.