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NXT Bank is upgrading its payments infrastructure through an expanded partnership with Network International, transferring its ATM and debit card portfolio to the company’s integrated processing platform.

The move, announced in Cairo on October 12, is designed to strengthen the Egyptian bank’s technology infrastructure while improving security controls and allowing new digital services to reach customers more quickly.

NXT Bank Expands Its Digital Infrastructure

NXT Bank, previously operating under the name aiBANK, has 37 branches across Egypt and is also expanding its ATM footprint. Its paid-up capital stands at EGP 9.9 billion.

EFG Holding is the bank’s majority shareholder with a 51% stake, while the Egyptian Financial Services and Digital Transformation Sub-Fund owns 25% and the National Investment Bank holds 24%.

Tamer Seifeldin, CEO and Managing Director of NXT Bank, said moving the debit card and ATM portfolio to Network International’s processing platform would help the bank achieve greater operational efficiency and introduce innovative services at a faster pace.

Network International Strengthens Regional Role

Network International provides payment processing services in more than 50 countries and counts over 250 financial institutions among its customers.

According to Dr. Reda Helal, Managing Director of Payment Processing for Africa and Developing Markets at Network International, the partnership forms part of the company’s broader strategy to expand its presence in the Middle East and Africa.

The company became privately held following its 2023 acquisition by a consortium led by Brookfield Asset Management and Francisco Partners.

Digital Payments Drive Technology Investment

The NXT Bank agreement reflects the wider transformation taking place across Egypt’s banking and payments industry, as financial institutions invest in modern infrastructure and electronic payment capabilities.

Outsourcing card processing can allow banks to limit the cost of maintaining dedicated infrastructure while gaining access to specialized security and fraud-management technologies.

Future developments will depend on the pace of the migration and whether NXT Bank extends its use of external technology partners as it expands its physical and digital banking operations.