- Fawry partners with Contact Financial Holding to integrate BNPL services into its extensive payment network, enhancing financial accessibility.
- The partnership extends beyond BNPL, incorporating bill collection and electronic payments to support Egypt’s cashless economy.
- Both companies emphasize financial inclusion, aiming to provide flexible and secure payment options to a broader customer base.
Cairo, Egypt – Leading Egyptian fintech company Fawry has entered into a strategic partnership with Contact Financial Holding, a top non-banking financial services provider, to expand Buy Now, Pay Later (BNPL) services across the country. This collaboration aims to enhance financial inclusion and support Egypt’s digital transformation by integrating Contact’s BNPL services into Fawry’s extensive payment network.
Expanding Payment Flexibility
Under this agreement, Contact’s customers will gain access to Fawry’s digital payment solutions, allowing them to finance their purchases more conveniently. With over 370,000 point-of-sale (POS) terminals and a robust online platform, Fawry’s network will enable smoother transactions and provide greater flexibility for consumers.
The partnership goes beyond BNPL services. It includes a broader integration of electronic payment solutions, bill collection, and other fintech services, further strengthening Egypt’s transition toward a cashless economy.
Supporting Financial Inclusion
Heba El Awady, Chief Business Officer – Acceptance at Fawry, highlighted the company’s commitment to financial inclusion. “We aim to collaborate with reputable institutions to expand access to financial services. Our partnership with Contact will empower customers by providing them with more flexible and secure payment options,” she said.
Contact Financial Holding’s Head of Products & Business Development, Ghada Tayel, emphasized the impact of the expanded partnership. “By leveraging Fawry’s wide merchant network, we can extend our financing solutions to more regions across Egypt, ensuring greater accessibility for consumers,” Tayel noted.
Strengthening Digital Payments
This collaboration reinforces both companies’ dedication to enhancing Egypt’s digital payments infrastructure. By offering seamless and secure transaction solutions, the partnership aims to reduce dependency on cash, streamline payment processes, and create a more customer-centric digital finance ecosystem.
Fawry and Contact’s joint efforts will contribute significantly to the evolution of Egypt’s financial sector, providing innovative solutions that cater to the changing needs of consumers and businesses alike.
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