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Development and a transformative impact on financial technology in Egypt
The fintech landscape in Egypt has witnessed remarkable progress in recent years
The FinTech market is experiencing unprecedented growth
A lot of changes are happening in the Fin-tech industry and some are more obvious than others but what remains as clear as it’s always been is that, the customer experience is always center stage, whether by increasing security, offering new ways to pay or even by facilitating bureaucratic procedures that often held progress back.
Gone are the days of cash on delivery and bank transfers. With the onset of online businesses today, it is essential to accommodate online payment options for transactions. Selling online comes with the hassle of ensuring that every transaction is secure and fits the needs of your customers. And with e-commerce growing day by day in Egypt, it is essential to understand the online buying process.
Financial inclusion is a governmental measure that aims at allowing both individuals and businesses to gain access to the products and services of financial institutions in whichever form that maybe - transactions, payments, savings, credit and insurance - at a reasonable cost and in a sustainable mode. In July 2017, Egypt was chosen, along with China and Mexico, as a model country in a new Financial Inclusion Global Initiative launched by the World Bank Group. The three-year initiative aims at supporting access to financial services to the unbanked and underbanked.
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