Cairo : 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 Contact mobile 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.
Contact Credit is authorized and regulated by the Financial Regulatory Authority (FRA). Established in 2001, Contact is the first specialized consumer financing company in Egypt. Set up as an independent, management, and employee-led initiative. The company has 24 branches and a customer base of 103,000 providing financing solutions within the Automotive (passenger and commercial vehicles), Leasing, Factoring, Insurance Brokerage, consumer goods financing, Mortgage and Finishing industry. Contact has a growing network that includes over 2,500 points of sale covering car dealers, shopping merchants, and sports clubs.
Fawry is the leading digital transformation and e-payments platform, serving more than 29 million customers monthly, with more than 3 million transactions daily for more than 894 services, including telecom bills, tickets and tourism, online payments, insurance, and school and universities fees, donations, financial and banking payments, subscriptions, advertisements, and car license renewals.
All of these services are carried out through a giant network of more than 34 major banks, 194000 authorized sales outlets all over Egypt, 2,500 post office branches, 15 mobile phone wallets for banks and mobile companies, in addition to “Fawry Plus” over the country, and “myFawry” online payment portal and its application.
© Press Release 2021
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