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There is so much evolution taking place around the world almost in every sector, this evolution has not left the financial sector behind its moving along with it, and that is why we are seeing so many financial technology companies coming up, evolving day by day we, therefore, call this financial evolution.
Financial evolution is taking place in so many countries across the globe. It’s quite amazing that this has not left Egypt behind. There are so many upcoming financial technology companies in Egypt, and these are the ones supporting Egypt’s most unbanked population.
Financial technology companies have grown and expanded in Egypt because the country has quite a large population. The majority does not use banks; their support systems are Fintechs; it’s wise to say that Fintechs is one of Egypt's fastest-growing sectors.
THE TOP 10 FINANCIAL TECHNOLOGY COMPANIES IN EGYPT
1. 7AWESHLY
This is Egypt’s number one Cairo based micro saving tool for the youth to support them reach their dreams; it aids people construct a habit of saving and keeps them committed. 7Aweshly has branches all over, and therefore you can deposit your money at an ATM anytime. Their ATM locations are usually in Pharmacies, supermarkets, and many more places. There is 100% safety of your money, and you can use your phone anytime to check it out. It is one of the best players in maintaining your deposits in that it does not put any charges on your money, whether monthly maintenance or any other costs.
Their features are simple; Download the 7Aweshly app, pick an item to save for and then start saving.
2. FAWRY
This is Egypt’s chief digital transformation and E-payments platform giving financial support services to people involved in businesses. You can use ATMs, mobile wallets, retail points, and online systems to clear bills and do other financial transaction services.
Their location points are usually groceries, pharmacies, stationeries, and post offices; they have about 194,000 locations and carry out about 3 million transactions per day. Services offered to businesses include; collection services, customer acquisition, electronic cash, payment facilitation, and business to business collection centers.
3. VAPULUS
This offers the easiest way to shop and pay online, makes your shopping experience simple and friendly. This works with Business 2 Business companies making it easy for organizations to accept payments, availing access to various customer acquisition and loyalty tools. Their main goal is to “give consumers and organizations greater financial freedom and more choice.”
Vapulus’s vision is “organizations of every size choose vapulus to accept consumer payments, manage loyalty programs, and administer customer acquisition projects. Provide superior services and functionality while improving everyday life globally through innovations and technology.” Payment systems and services available for their customers include credit cards, bank transfers, payment vouchers, and digital wallets.
4. PAYME
This has the most up to date financial solutions and services offered to their customers; this gives a full package of financial services to their customers/business brands while ensuring that value proposition is at the forefront.
Payme offers several benefits, and these are; payment processing, cross border transactions, invoices, recurring billing, online shopping cart, and offline POS; other added services include; tight security of your money, supporting business growth, zero risks, and operations, perfect user experience, and offer the best technology, these services are offered to over 20,000 clients that are banks, credit card companies, and payment service providers.
5. TPAY
Founded in Egypt in 2014, Tpay is your most reliable payment associate that gives local and global digital service access to customers across various regions; the middle east, Africa, and Turkey. Tpay offers solutions to Merchants, operators, e-payments, and developers.
Tpay offers both local and global digital service providers, thus accommodating cross-border payments. Tpay acts as an acquirer and payment processor; it provides only full services and ends the mobile payments platform in the region. This has been achieved through integration with a single API. Tpay simplifies global digital service providers to leverage the local expertise, access customers, and accept payments in emerging markets, thus enabling enterprise expansion and financial inclusion.
6. PAYSKY
This is a cloud-based payment company that gives electronic commerce and electronic payments solutions, closing a gap between individuals, businesses, and markets. Paysky offers complete business solutions with integrated e-payments. Vision” democratizing e-payments “while the mission is “availing innovative commerce solutions with seamlessly integrated e-payments,” their values include; passion towards payments, fair treatment, innovativeness, and no compromise on quality.
Paysky’s payment solutions include; gateway, wallet, payBox, and Smartbox. Business solutions include; invoice cloud, store cloud, voucher cloud, ticket cloud, and loyalty cloud, then government solutions are benefits and revenue cloud.
7. DOPAY
This is one of the most trusted payrolls; it is simple, secure, and fast. It can allow you to pay all your employees, contractors, and all your businesses plus financial transactions online. You can access their payments by using a Visa card, thus saving time for the employee and the employer while allowing you to concentrate on other things. Dopay gives several services to employees: mobile app access, Visa payments, 24/7 support, ATM transactions, and sends SMS notifications upon every transaction made, while for employers, marketplace there is convenience, morale, high turnover, 24/7 support, and digital payroll. Dopay has offices in London, Cairo, and Ghana.
8. MONEY FELLOWS
One of the most convenient and trusted money hubs provides a huge range of money options for every user to look out on where to choose from. This is possible because they have several payments like; Debit/credit cards, Fawry / Fawry plus, digital wallets, direct debit, and cash, while payout methods include; digital wallet, bank transfer, and Fawry plus. Customers with good payment returns/authority have higher chances of being given more credit as long as you are part of their trusted money circles.
9. PAYMOB
Paymob was founded in 2015. It offers financial solutions to empower businesses and other financial service providers in both Middle East and Africa. They aim to help people get access to finances. Paymob has partnered with several banks, telecom companies, and many other financial institutions. Over the years, paymob has achieved tremendous things, and currently, it has over 12 million users, 150000 agents, over 10 bank deployments, and carries over 120 million transactions. They offer many services like online payments, POS solutions, payment links, subscriptions, installments, marketplace, payouts, paymob sync, and digital wallet.
10. YOMKEN
This is a solution based financial technology for small and medium enterprises; Yomken is one of the most innovative financial technology companies that came up to address and boost up the comparative advantage of small and low technology businesses that are thriving in the competitive world, they did this with hopes of helping the youth find employment and reduce poverty levels too.
Yomken supports student activities, engineers’ scientists, academic researchers, product designers. There are two main services offered by yomken; the open innovation platform and the marketplace; however, there is another package of services: innovation management and policy and capacity building services.
There are so many upcoming financial technology companies in Egypt, and this golden chance draws back to the natives to use it efficiently to build their next generations.
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