Cairo - by: Reda Abu Al -Khair
, E. Finance Group for Financial and digital investments signed a new cooperation agreement with Visa, the world leader in the field of digital payments, under the title "The joint investment growth plan for digital payments", during "Visa Connect", the prominent event In the field of financial technology and digital payments.
This partnership aims to enhance the growth of the digital financial services sector in Egypt, by expanding the scope of the issuance of financial cards, developing solutions to accept payments, acquisition of merchants, and launching innovative plans to support merchants in various sectors
In order to enhance their capabilities to benefit from the latest solutions to digital payments, this agreement also comes within the framework of the commitment of the two sides to support the digital transformation strategy in Egypt, according to Egypt's Vision 2030 in general
The new agreement includes expanding the scope of the issuance of innovative financial products and enhancing digital solutions directed to merchants in different sectors, including retail sectors, tourism, services, and e -commerce in particular
It will also work to stimulate the non-cash payment system by supporting merchants and enabling them to use the latest digital acceptance, including TAP-TO-PHONE technology, as well as developing innovative financing solutions to increase operational efficiency and stimulate economic growth
In addition, updated payment solutions will be provided to target new segments such as university students, providing them with easy access to digital financial services and enhancing more financial inclusion among young people
Cooperation also includes consulting programs to develop digital payment services, and provide international models for best practices in digitization of payments, as well as joint awareness initiatives to support digital transformation and financial inclusion, and the focus will be on developing advanced digital marketing strategies, and enhancing data exchange and analyzes to support financial decisions.
This partnership aims to expand the scope of digital financial services for both consumers and merchants, with a focus on the support of small, medium and large companies in general
Provided that this is through safer and easy digital payment solutions, and initiatives will include enhancing the acceptance of digital payments, and providing flexible payment options that support sustainable growth of commercial institutions of all sizes. Ibrahim Sarhan, Chairman and Managing Director of the E. Finance Group for Financial and digital investments, stressed that this agreement represents a new step in the group's expansion march towards providing more advanced and innovative digital financial solutions, where he said: “We are constantly working on investing in modern financial technologies and building Strong partnerships with international institutions such as Visa
This enhances the role of "E Finance" as a strategic partner in digital transformation in Egypt, and this agreement will contribute to supporting merchants, and enabling them to use the latest payment solutions, which reflects positively on the digital economy in Egypt. For its part, Laila Sarhan, Regional Director and Vice -Chairman of the Board of Command the Business of Visa Company in North Africa, the countries of the East and Pakistan, said: “Visa remains committed to supporting digital transformation in Egypt through cooperation with leading institutions such as I Finance.”
She added that this partnership was designed to enable merchants and small and medium -sized companies through advanced digital payment solutions, and to pay economic growth and financial inclusion in the country, and since small and medium -sized companies represent 98 % of the private sector activity and contribute 43 % to the national gross domestic product, the empowerment These companies, through digital transformation, are very important to continue Egypt's prosperity, and our efforts are compatible with the vision of Egypt 2030, which aims to create a strong and sustainable economy. ”
