Fawry partners with Contact to broaden BNPL services in Egypt

Fawry, a prominent fintech leader in Egypt, has forged a strategic alliance with Contact Financial Holding, a leading non-banking financial services provider, to expand their collaborative efforts. This partnership aims to integrate Contact's Buy Now, Pay Later (BNPL) service into Fawry's extensive payment ecosystem, which encompasses over 370,000 POS terminals and its digital platform.

The agreement will enable Contact's customers to access Fawry's comprehensive digital payment solutions, providing them with flexible installment options and streamlined purchase financing. This collaboration extends beyond BNPL services, encompassing various fintech domains such as electronic payment solutions and bill collection, thereby fostering a more integrated service experience. This initiative also aligns with Egypt's broader digital transformation agenda, promoting a shift away from cash transactions and fostering greater financial inclusion.

Heba El Awady, Chief Business Officer – Acceptance at Fawry, emphasized the company's strategic vision to strengthen partnerships with reputable institutions that share its commitment to financial inclusion and digital transformation. The partnership with Contact is designed to broaden the accessibility of financial services, offering customers enhanced flexibility and payment options. The BNPL service, in particular, aims to simplify and secure access to essential products and services.

Ghada Tayel, Head of Products & Business Development at Contact Financial Holding, highlighted the company's dedication to providing innovative financing solutions that cater to customer needs. Expanding the partnership with Fawry allows Contact to offer more efficient and flexible payment options through Fawry's widespread merchant network, thereby enhancing its geographical reach and expanding its customer base nationwide.

This collaboration underscores the shared commitment of Fawry and Contact to delivering a comprehensive suite of digital payment solutions that address the evolving demands of the Egyptian market. By promoting financial inclusion, streamlining digital transactions, and reducing reliance on cash, the partnership contributes to the efficiency of Egypt's digital payments infrastructure and provides a seamless, customer-centric payment experience for both individuals and merchants.