Latest news with #ContactFinancialHolding
CairoScene
20-03-2025
- Business
- CairoScene
Fawry & Contact Partner to Expand Digital Payment Solutions in Egypt
Alongside BNPL, the partnership will also facilitate bill payments, electronic transactions, and other financial services. Mar 20, 2025 Fawry, one of Egypt's leading fintech companies, has partnered with Contact Financial Holding, a major non-banking financial services provider, to integrate Buy Now, Pay Later (BNPL) services into Fawry's extensive payment network of over 370,000 POS devices and online platforms. This collaboration will allow Contact's customers to access Fawry's digital payment solutions, enabling installment payments and financing options. Alongside BNPL, the partnership will also facilitate bill payments, electronic transactions, and other financial services, enhancing customer convenience and accessibility. By integrating BNPL into its ecosystem, Fawry aims to broaden financial inclusion, making flexible payment options more accessible across diverse sectors. The partnership also seeks to expand the reach of digital transactions in Egypt, helping businesses and consumers transition away from cash-based payments. The initiative aligns with Egypt's digital transformation strategy, promoting cashless transactions and strengthening the country's financial infrastructure through a secure and efficient e-payment network.
Wamda
18-03-2025
- Business
- Wamda
Fawry partners with Contact to broaden BNPL services in Egypt
Press release: Fawry, Egypt's leading fintech company, has signed a strategic agreement with Contact Financial Holding, Egypt's leading non-banking financial services provider, to broaden their partnership by integrating Contact's Buy Now, Pay Later (BNPL) service into Fawry's vast payment network, which includes over 370,000 POSs and its online platform. Under this partnership, Fawry's integrated digital payment solutions will be available to Contact's customers, offering them convenient and diverse options to pay in installments and finance their purchases with ease. This partnership goes beyond the "Buy Now, Pay Later" (BNPL) service, extending to various fintech areas, including electronic payment solutions, bill collection, and more, enhancing the integration of services provided. Additionally, this collaboration aligns with Egypt's digital transformation strategy by reducing reliance on cash transactions and promoting financial inclusion. 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. Ghada Tayel, Head of Products & Business Development at Contact Financial Holding, stated, Expanding our partnership with Fawry reflects our commitment to providing innovative financing solutions that meet our customers' needs. By offering more efficient and flexible payment options through Fawry's extensive network of merchants across various governorates, we enhance our geographical reach and expand our presence nationwide, enabling access to a broader customer base." This collaboration reinforces the shared commitment of Contact and Fawry to offering an integrated suite of digital payment solutions that align with the evolving needs of the Egyptian market. By promoting financial inclusion, streamlining and securing digital transactions, and reducing reliance on cash, the partnership enhances the overall efficiency of Egypt's digital payments infrastructure while delivering a seamless and customer-centric payment solution for both individuals and merchants.
Zawya
18-03-2025
- Business
- Zawya
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.
Zawya
17-03-2025
- Automotive
- Zawya
Forbes Middle East places Contact Financial Holding on Top 50 Fintech Companies for the second year in a row
Cairo: Contact Financial Holding, Egypt's leading non-banking financial services provider, has been recognized by Forbes Middle East as one of the Top 50 Fintech Companies in the Middle East for 2025, marking the second consecutive year the company has received this prestigious honor . This achievement underscores Contact's leadership in the fintech sector by providing innovative financial solutions that drive financial inclusion and support digital transformation across Egypt and the region. Contact continues to solidify its position in fintech sector through an integrated approach to enhancing its digital solutions, ensuring a seamless and secure experience for individuals and businesses alike. Through its flagship application, ContactNow, App leverages AI to offer instant approvals and precise credit assessments. This advanced technology contributed to a 38% y-o-y increase in the total value of transactions made through the App in FY24, reflecting growing customer demand for Contact's digital financial services. Reinforcing its dedication to innovation, Contact has introduced Maestro program, a groundbreaking feature within ContactNow app that redefines installment payments. This program gives users full control over their payment plans through an interactive digital dashboard, enabling them to customize repayment durations, adjust administrative fees, and even lower interest rates to 0% by fine-tuning the administrative fee structures. In addition to Egypt's first specialized digital automotive platform, which sustained its impressive growth with monthly active users reaching 1.2 million in 2024, the platform also introduced Otlobha, a service designed to enable customers to purchase their desired cars at the best price and in the shortest time possible, solidifying its position as Egypt's go-to platform for car buyers. Building on its efforts to advance digital financial solutions, Contact established its electronic payments arm, operating under its umbrella "Contact Pay". As a leading provider of digital payment solutions, Contact Pay underscores the company's strategic vision to enhance customer experience through key partnerships, reaffirming its continuous pursuit of cutting-edge digital financial solutions. With this vision, Contact remains at the forefront of fintech innovation, advancing AI-powered digital tools that enhance efficiency and streamline financial solutions to better serve an expanding customer base and address evolving market demands. Commenting on Forbes' ranking, Said Zater, CEO of Contact Financial Holding, expressed pride in the company's continued success, stating: 'Securing our place among the region's top 50 fintech companies for the second consecutive year is a testament to the strength of our digital innovation strategy. He added: 'At Contact, digital transformation is more than just a milestone, it lies at the heart of our vision for the future of financial services. We remain committed to developing cutting-edge digital financial solutions that drive financial inclusion, accelerate digitalization, and deliver a seamless, efficient experience that not only meets but exceeds customer expectations, reinforcing their trust in our ability to provide innovative financial solutions tailored to their evolving needs.' It is noteworthy that this recognition by Forbes Middle East is not the first for Contact. For three consecutive years, Contact has been ranked among the Top 50 listed companies on the Egyptian Stock Exchange. Additionally, Contact was honored as a sustainability leader in the Middle East, and Mr. Said Zater, was recognized as one of the top CEOs in the Middle East for two years in a row .
Daily News Egypt
13-02-2025
- Business
- Daily News Egypt
Said Zater's Vision Reshapes Egypt's Consumer Finance Landscape
In a country where rising costs and economic challenges make access to credit increasingly vital, Egypt's s consumer finance sector has undergone a major transformation. At the center of this shift is Said Zater, CEO of Contact Financial Holding and Chairman of the Egyptian Federation of Consumer Finance, whose leadership is redefining how Egyptians access and manage financial support. Consumer finance -once a fragmented, loosely regulated sector- has become a key pillar of Egypt's s financial system. In just three years, the market expanded from EGP 17 billion in 2021 to EGP 55 billion by late 2024, a 224% increase. The number of people using these services nearly tripled to 3.76 million, a sign that more Egyptians are turning to installment plans and credit services to fund their purchases. This rapid growth is not just about bigger numbers; it is about structure and oversight. When the Egyptian Federation of Consumer Finance was established in May 2021, it set out to create order in an industry that had been operating with minimal coordination. Zater played a crucial role in shaping this vision, advocating for clearer regulations, consumer protection measures, and financial literacy programs. One of his major initiatives has been improving industry standards through training and workshops. In collaboration with the Financial Regulatory Authority (FRA), the Federation has hosted 14 training programs for financial institutions, covering topics such as fraud prevention, risk management, and corporate governance. These efforts are designed to ensure that companies operate transparently and that consumers are better protected from financial mismanagement. Beyond boardrooms and policy meetings, Zater has also pushed for a broader conversation about financial literacy. He has encouraged participation in youth-focused initiatives, helping young Egyptians understand the importance of responsible borrowing, credit scores, and structured repayment plans knowledge that could prevent future financial distress. The sector's modernization has also been shaped by technology. Zater has been a firm believer that the future of finance is digital. Under his leadership, Contact Financial Holding has embraced FinTech solutions, streamlining loan approvals and making financial services more accessible. The impact is evident: the company's consumer finance contracts skyrocketed by 338% in just four years. Looking ahead, the challenge is maintaining sustainable growth. While consumer finance has provided millions with access to credit, balancing expansion with responsible lending remains critical. Zater's next task will be to ensure that Egypt's s consumer finance sector doesn't just grow- 'it matures into a stable, well-regulated industry that truly benefits consumers and strengthens the economy.
