Contact Pay, Damen partner to provide comprehensive payment solutions
Updated 5/12/2024 11:37:00 AM
Arab Finance: Contact Pay, a subsidiary of Contact Financial Holding, has signed a strategic partnership agreement with the fintech start-up Damen to provide comprehensive digital payment solutions, according to an emailed press release.
This agreement aims to integrate the expertise of both companies to provide a comprehensive digital payment ecosystem that caters to the varied needs of customers while making their lives easier.
Under the partnership, Damen will act as Contact's on-the-ground collection arm, allowing it to expand its geographic presence and customer base across Egypt.
On the other hand, Contact Pay will benefit from Damen's wide network of more than 100,000 points of sale (POS) and payment kiosks which will boost its collection channels.
“We are confident this collaboration will significantly enhance our payment services, simplifying collections and offering more diverse payment options for our customers,” Managing Director of Contact Pay Ahmed Abdel Hakim commented.
“This collaboration allows us to leverage Contact's experience to expand our services and reach a wider customer base. We are confident this partnership will propel financial technology advancements in Egypt and contribute to financial inclusion," Sameh ElMallah, CEO of Damen, said.
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