Arab Financial Services (AFS), a leading digital payment and fintech solutions provider in the Middle East and Africa, has announced that its Egyptian subsidiary has received regulatory approval from the Central Bank of Egypt (CBE) to launch its SoftPOS (Tap-to-Phone) solution nationwide. With this license, AFS Egypt becomes one of the first providers in the country to introduce a fully licensed SoftPOS service to the market.
The AFS SoftPOS solution enables any NFC-enabled smartphone to function as a secure, fully operational payment terminal, removing the need for dedicated point-of-sale hardware. This approach significantly reduces costs for merchants while offering a fast, scalable, and flexible way to accept contactless payments, including all major card schemes.
The launch comes at a time of rapid growth in Egypt’s digital payments ecosystem, where mobile and contactless transactions are increasingly central to everyday commerce. By lowering barriers to entry, AFS aims to support small and medium-sized businesses alongside larger enterprises, helping expand digital acceptance across the economy.
Samer Soliman, CEO of AFS, described the rollout as a major milestone for both the company and Egypt’s financial sector. He said the licensed SoftPOS solution allows businesses of all sizes to turn NFC-enabled Android smartphones into secure payment terminals, eliminating hardware costs and accelerating access to digital payment infrastructure. He added that AFS plans to expand the solution’s capabilities and introduce new use cases to further drive financial inclusion.
AFS said the SoftPOS launch aligns closely with Egypt’s national digital transformation agenda, supporting broader goals around cashless payments, financial inclusion, and economic efficiency. The company plans to continue investing in innovation to strengthen Egypt’s evolving digital financial landscape.
AFS operates across more than 20 countries in the Middle East and Africa and is regulated by the Central Bank of Bahrain and the Central Bank of Egypt, with licensing from the Central Bank of the UAE.
