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ArabFinance: Egypt’s digital financial services platform Paynas and Dubai-based ride-sharing company Swvl entered into a partnership for financial services on a revenue-sharing model, according to a press release.
Under their agreement, Paynas will issue Visa-powered Paynas cards to Swvl’s registered captains, in collaboration with Banque Misr.
Paynas will also give Swvl’s captains access to financial and non-financial benefits including earned compensation payouts, buy-now-pay-later (BNPL) services, and insurance.
“Through this partnership we will continue to demonstrate the innovative ways in which we are making their lives easier, while providing access to premier financial services and other benefits,” Swvl’s founder and CEO Mostafa Kandil commented.
“We are excited to continue to scale our support for individuals and SMEs with innovative and efficient financial services and benefits programs and look forward to creating real value for Swvl captains to achieve financial wellness,” Paynas’ founder and CEO Mohamed Mounir said.
Established in 2017, Swvl provides tech-enabled mass transit solutions across 115 cities in 18 countries.
