Contact strengthens its collaboration with Fawry to deliver fully-fledged digital payment solutions
Cairo, Contact Financial Holding, Egypt's leading non-banking financial services provider, has signed a new agreement with Fawry, Egypt's leading fintech company, to expand their partnership by enabling Contact's Buy Now, Pay Later (BNPL) service across Fawry's extensive payment network, which includes over 370,000 points of sale and its online platform.
This agreement expands the successful strategic partnership between Contact and Fawry, offering Contact's customers greater payment flexibility through seamless installment plans and financing options powered by Fawry's integrated digital payment solutions. The partnership goes beyond BNPL, encompassing a broader range of fintech solutions, including E-Payment Gateway, bill payment aggregation, and other services, further strengthening the integration of the services provided.
In line with Egypt's vision to drive digital transformation, this partnership supports the government's strategy to promote financial inclusion and reduce reliance on cash transactions. The agreement also aims to expand digital payment options, making it easier for citizens to adopt electronic payments.
Ghada Tayel, Head of Products & Business Development at Contact Financial Holding, stated: "Expanding our partnership with Fawry reflects our commitment to delivering innovative and customer-centric financial solutions that cater to our customers' needs. By offering more efficient and flexible repayment options through Fawry's extensive merchant network across Egypt, we are strengthening our market reach and making our financing solutions more accessible to a broader customer base."
Heba El Awady, Chief Business Officer -Acceptance, added: "We have a strategic vision to strengthen collaboration with reputable institutions and major companies that share Fawry's values in promoting financial inclusion and supporting the state's digital transformation efforts. The partnership with Contact aims to facilitate and expand financial services to reach more sectors, providing our customers with greater flexibility and more options. The BNPL service is designed to make it easier and safer for customers to access the products and services they need in a convenient and secure manner.
It's worth noting that this collaboration reinforces the shared commitment of Contact and Fawry to offering a fully-fledged suite of digital payment solutions that align with the evolving needs of the Egyptian market. By streamlining and securing digital transactions, the partnership enhances the overall efficiency of Egypt's digital payments infrastructure while delivering a seamless and customer-centric payment experience for both individuals and merchants.
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