A new processing deal for Bank NXT
Bank NXT, an Egyptian provider of integrated retail and corporate banking solutions, is extending its partnership with Network International, the Middle East and Africa payments technology company, to modernise its payments infrastructure, according to TechAfrica News, which carried the announcement on 12 October.
Arab Finance and Zawya reported the same agreement a day earlier, on 11 October. Under the deal, Bank NXT will migrate its automated teller machine and debit card portfolio onto Network International's end-to-end processing platform, the companies said in a statement carried by Zawya. The firms described the goal as streamlining day-to-day operations, reinforcing security controls and improving the customer experience, while making it faster to roll out new digital services, Arab Finance reported.
This collaboration reaffirms our commitment to leveraging cutting-edge technology to drive our strategic expansion and meet the evolving needs of the Egyptian market, contributing significantly to the nation's digital transformation. — Tamer Seif El-Din, CEO and Managing Director, Bank NXT
Dr Reda Helal, Network International's Group Managing Director for Processing, Africa and Growth Markets, said the agreement reflected the company's standing in the region's payments sector.
This is a testament to our leadership and value proposition in payments modernisation and our dedication to fostering growth for our partners. — Dr Reda Helal, Group Managing Director – Processing, Africa & Growth Markets, Network International
Neither company published a timeline for completing the migration, and no financial terms were disclosed in the announcements reviewed by EgyptPulse. It is also not stated whether Bank NXT customers will need new physical cards, or whether the change happens entirely on the back end.
Who Bank NXT is
Bank NXT operates 37 branches across Egypt, according to Zawya's company profile of the bank carried alongside the announcement. The lender's paid-in capital stood at EGP 9.9 billion as of 17 August 2025, with ownership split between EFG Holding, which holds 51 percent, Egypt's Financial Services and Digital Transformation Sub-Fund, which holds 25 percent, and the National Investment Bank, which holds the remaining 24 percent, the same profile said.
Network International's longer run in Egypt
Network International has operated in Egypt for more than 20 years and uses the country as its Africa headquarters, employing more than 700 people there and partnering with more than 160 African banks and 65 Middle Eastern banks, Daily News Egypt reported in 2023.
In August 2023, the company announced a EGP 1 billion investment in Egypt's digital-payments infrastructure, including the rollout of 100,000 point-of-sale machines for merchants and the deployment of its "Network One" processing platform, according to the same report. Group chief executive Nandan Mer said at the time:
This investment demonstrates our ongoing commitment to bringing innovative payment solutions to Egyptian businesses. — Nandan Mer, Group CEO, Network International, August 2023
Helal, discussing that 2023 investment, said the focus was on affordability for smaller merchants:
We are making digital payment acceptance affordable for many small merchants through low-cost payment acceptance solutions. — Reda Helal, Group Managing Director – Processing, Africa, Network International, 2023
Building a merchant network
A few months earlier, in May 2023, Network International said it had launched "networkpay," a direct-to-merchant service letting businesses accept payments through point-of-sale terminals, e-commerce checkouts and tap-on-phone technology, with instalment plans arranged through partner banks and loyalty schemes run with the fintech platforms ZEAL and ValU, Daily News Egypt reported at the time. The company said more than 500 merchants had already signed up, with over 700 terminals operating at launch.
Egypt is a key growth accelerator for Network. — Andrew Key, Group Managing Director – Acquiring, Network International, May 2023
Part of a bigger digitisation push
The new Bank NXT agreement comes as Egypt's Central Bank has pushed lenders and payment companies to expand digital infrastructure and move the economy away from cash, a direction both companies referenced in describing the announcement, TechAfrica News and Arab Finance reported. Neither outlet detailed specific targets tied to the Bank NXT migration itself.
That broader push has been gathering pace. Egypt's Instant Payment Network, the Central Bank's real-time transfer system, reached 22 million registered users by the end of the second quarter of 2026, recording around 1.47 billion transactions worth roughly EGP 4.33 trillion, Central Bank Governor Hassan Abdalla said. Speaking at the 50th annual meeting of the Council of Arab Central Bank Governors and Monetary Authorities in Abu Dhabi, Abdalla said the region is witnessing a rapid shift towards digital payments, reflected in the launch and development of instant payment systems including InstaPay in Egypt, Sarie in Saudi Arabia and Aani in the UAE, according to Amwal Al Ghad.
Frequently asked questions
What exactly is changing for Bank NXT customers?
Bank NXT is moving its ATM and debit card portfolio onto Network International's processing platform, a shift the two companies say is designed to streamline operations, strengthen security and improve customer experience, according to the Zawya and Arab Finance reports on the announcement.
When will the migration be completed?
Neither company has published a completion date. The announcements reviewed by EgyptPulse describe the collaboration as under way without giving a timeline.
How big is Network International's presence in Egypt?
The company says it has operated in Egypt for more than 20 years, employs over 700 people there as its Africa headquarters, and partners with more than 160 African banks and 65 Middle Eastern banks, according to Daily News Egypt's 2023 reporting.
Is Bank NXT a new entrant to Egypt's banking market?
No. Bank NXT already operates 37 branches across the country and reported paid-in capital of EGP 9.9 billion as of August 2025, according to TechAfrica News, with EFG Holding as its majority shareholder, alongside Egypt's Financial Services and Digital Transformation Sub-Fund and the National Investment Bank as the two other shareholders.
How does this fit into Egypt's wider digital-payments growth?
Egypt's Instant Payment Network, the Central Bank's real-time transfer system, had reached 22 million registered users and roughly 1.47 billion transactions worth EGP 4.33 trillion by the end of the second quarter of 2026, according to Central Bank Governor Hassan Abdalla's remarks reported by Amwal Al Ghad, a scale of growth the Bank NXT-Network International deal is part of rather than separate from.
