Fawry, Egypt’s leading fintech company, has entered into a strategic agreement with Contact Financial Holding, the country’s foremost non-banking financial services provider, to enhance their partnership by integrating Contact’s Buy Now, Pay Later (BNPL) service into Fawry’s extensive payment network. This network encompasses over 370,000 point-of-sale (POS) terminals and includes Fawry’s online platform.
Through this collaboration, Fawry will offer its integrated digital payment solutions to Contact’s customers, providing them with convenient and diverse options for installment payments and financing their purchases. The partnership extends beyond just the BNPL service; it encompasses various fintech domains, including electronic payment solutions, bill collection, and more, thereby enhancing the overall integration of services offered. Furthermore, this collaboration aligns with Egypt’s digital transformation strategy, which aims to reduce reliance on cash transactions and promote financial inclusion across the nation.
Heba El Awady, Chief Business Officer – Acceptance at Fawry, emphasized the strategic vision behind this partnership, stating, “We aim 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 is designed to facilitate and expand financial services to reach more sectors, providing our customers with greater flexibility and a wider array of options. The BNPL service is specifically crafted 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, remarked that expanding their partnership with Fawry underscores their commitment to delivering innovative financing solutions tailored to their customers’ needs. She noted, “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 both Contact and Fawry to provide an integrated suite of digital payment solutions that cater to 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. Ultimately, it delivers a seamless and customer-centric payment solution for both individuals and merchants, fostering a more inclusive financial ecosystem in the country.
