Egyptian company Mediterranean Smart Cards Company (MSCC) recently signed an agreement with China Unionpay (CUP) for its POS and ATM acquiring business in Africa.

The agreement aims to provide the Chinese community with the ability to use the ATM and POS networks for more financial freedom when traveling to Egypt and other African countries in line with the increasing Chinese in-bound tourism to Egypt. In addition, the agreement will likely attract Chinese labor to African countries due to the availability of CUP ATMs and POS.

MSCC provides smart card payment processing services to banks across markets in Central and Eastern Europe, Middle East and Africa.