Victory Link, Lebanon’s MDIC establish new e-payment JV

Digital solutions firm Victory Link and Lebanon’s Management and Development International Company (MDIC) will establish a new e-payments platform, with plans to invest EGP 100 mn in Egypt over the next two and a half years, COO Ahmed Ibrahim tells Al Mal. The new JV, which will officially begin operations by the year’s end, aims to offer its solutions through 10,000 service points nationwide, increasing up to 50,000 over the next five years. The company has already received regulatory approval, he adds.