By ; Basel Khaled
Contact announced an agreement with Fawry, the e-payment platform. Through this agreement, Contact broadens the availability and reach of e-payment services and provides a wide range of financial services to customers through its “Contact Rewards” application saving clients’ time and effort in paying installments.
The two companies have agreed on providing customers with a convenient option of paying installments for financing Contact’s brands such as cars, securing a mortgage for private and social housing in addition to shopping. Payment is possible through Fawry’s comprehensive digital platform (over 194 thousand digital payment channels throughout Egypt) in addition to Contact’s 24 branches across Egypt and over 1500 selling point networks in auto dealerships, real-estate developers and consumer goods outlets as well sporting clubs; meeting the increasing customer demand for digital payments.
The main goal of this partnership is to diversify the digital payment options available to Egyptian citizens and facilitate their adoption of digital payments through Fawry’s mobile application and “Contact Rewards” application, as well as the various offline payment channels. This ultimately corresponds with the Government’s efforts in streamlining financial services and reducing traditional banknote transactions.
Mr. Said Zater, CEO of Contact Financial Holdings, said: “We are proud to announce this partnership with Fawry, which takes us one step closer towards our goal of achieving financial inclusion and accelerating digital transformation in our society. This agreement marks a turning point in our path and will boost our resources and our efforts in providing convenient digital financial services for Egyptian citizens of all income groups, and in line with national policies promoting digital transformation and financial inclusion.”
Commenting on the agreement Fawry’s Retail Chief Executive, Hossam Ezz stated “We are very happy with working alongside Contact and we hope this partnership will provide our customers with what they need in exactly the time when they need it the most. The new agreement with Contact is part of a fruitful partnership that aims to save time and effort on customers so that every customer is able to choose the financing service he wishes to obtain and pay installments from the nearest outlet or through Fawry’s application, which establishes the principle of financial inclusion, and digital transformation.”
“The new service provides full flexibility to customers in paying one or two installments at once, through a completely secured system with Fawry outlets, additionally the installment would stimulate demand for financing and expand the customer base, further strengthening purchasing power”, highlights Fawry’s Financial Sector Relations Chief Ahmed Fahmy.