Cairo 12 May 2024:
Contact Pay, a leading electronic payment provider and subsidiary of Contact Financial Holding, a non-banking financial services pioneer, announced a strategic partnership with Damen, an Egyptian fintech startup specializing in innovative payment solutions. This collaboration aims to strengthen their offerings, providing comprehensive digital payment solutions that simplify the customer experience.
This partnership aims to combine the extensive expertise of both companies to provide a comprehensive digital payment ecosystem that meets the diverse needs of customers and significantly simplifies their experience.
By combining expertise, the partnership will create a robust digital payment ecosystem that caters to diverse customer needs. Damen will act as Contact’s on-the-ground collection arm, expanding its geographic reach and customer base across Egypt. Contact Pay benefits from Damen’s extensive network of over 100,000 points of sale and payment kiosks, significantly enhancing their collection channels.
Eng. Ahmed Abdel Hakim, Managing Director of Contact Pay, said: ” Partnering with Damen is a major step forward. We’re confident this collaboration will significantly enhance our payment services, simplifying collections and offering more diverse payment options for our customers. We believe this strengthens Contact Pay’s position as a leader in innovative payment solutions.”
For his part, Sameh ElMallah, CEO of Damen, expressed his enthusiasm for this partnership, stating: ” We’re thrilled to partner with Contact, the leading player in Egypt’s electronic payment landscape. This collaboration allows us to leverage Contact’s experience to expand our services and reach a wider customer base. We’re confident this partnership will propel financial technology advancements in Egypt and contribute to financial inclusion.”
Mr. Said Zater, CEO of Contact Financial Holding, also commented on the agreement, saying: ” This strategic partnership with Damen is a crucial step towards achieving our vision of elevating Egypt’s electronic payment experience and offering innovative solutions. We’re confident our cooperation with Damen will solidify our leadership in non-banking financial services and benefit the entire Egyptian market by strengthening the fintech scene.”
