Retail outlet Kashier incorporates Buy Now Pay Later (BNPL) services from Contact Creditech, providing Egyptian consumers with flexible payment options.
Contact Creditech, the digital consumer finance arm of Contact Financial Holding, has teamed up with Kashier, an online payment gateway in Egypt and the Middle East, to integrate Buy Now, Pay Later (BNPL) services into Kashier’s platform. This collaboration will enable Kashier’s merchants to offer flexible installment-based payment options at checkout, providing customers with more purchasing power and convenient repayment plans.
The partnership significantly impacts financial inclusion in Egypt by expanding access to digital financing, supporting underserved segments, promoting the digital transformation agenda, and enhancing customer experience. By offering consumers more flexible, tech-driven payment solutions, the integration reduces dependency on cash transactions and helps reach new customer groups who may not have had easy access to credit before.
The collaboration aligns with Egypt’s broader shift towards cashless payments and digital financial services, positioning both companies as leaders in Egypt’s rapidly growing fintech ecosystem. Khaled Raslan, founder and CEO of Kashier, stated that partnering with ContactNow allows Kashier to bring more value to merchants and their customers by making financing more accessible and frictionless.
Ahmed El Moselhy, business director at Contact Now, views the partnership with Kashier as an "exciting step forward." The partnership aims to help Contact Creditech expand its customer base and strengthen its digital footprint in the Egyptian market. However, Ahmed El Moselhy did not mention specific new customer segments that Contact Now aims to reach.
The ContactNow app offers a diverse set of digital financing solutions, catering to the rising customer demand for easy and flexible payment options. The integration of the BNPL services from the ContactNow app into Kashier’s payment system is a part of Contact’s commitment to delivering smart financial experiences, advancing financial inclusion, and driving digital transformation.
Demand continues to grow for smarter, tech-driven financial solutions, and Contact Now aims to cater to this demand. The partnership does not specify any new digital financing solutions that Contact Now will offer, but it does reflect Contact Now’s vision to deliver innovative financing solutions.
This initiative underscores the rapid growth in the fintech sector, driven by shifting consumer behavior and the increasing reliance on cashless payment methods. The collaboration between Contact Now and Kashier is a reflection of Contact Now's commitment to delivering innovative financing solutions and strengthening its market presence.
In summary, the partnership between Contact Creditech and Kashier will provide more flexible payment options for customers in Egypt, contributing to increased financial empowerment and inclusion across the country. The partnership is a significant step forward in Egypt’s fintech sector and aligns with evolving market dynamics and changing customer needs.
This partnership between Contact Creditech and Kashier reinforces their dedication to advancing financial inclusion by integrating Buy Now, Pay Later services into Kashier's platform, thereby offering more flexible digital financing options to underserved segments in Egypt. Furthermore, this collaboration aligns with Contact Now's vision to deliver innovative financing solutions, contributing to the rapid growth and transformation of Egypt's fintech sector.
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