By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Robert F Kennedy on the presidential campaign trail in 1968, as he talked about limitations of gross domestic product* (GDP). Alamy
    Beyond GDP: Changing how we measure progress is key to tackling a world in crisis
    March 21, 2023
    IMF reaches staff-level deal with Somalia
    IMF reaches staff-level deal with Somalia
    March 21, 2023
    HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
    HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
    March 21, 2023
    Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs
    Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs
    March 21, 2023
    SCZONE discusses cooperation with American-Hellenic Chamber of Commerce
    SCZONE discusses cooperation with American-Hellenic Chamber of Commerce
    March 21, 2023
  • Politics
    PoliticsShow More
    New York beefs up security measures amid uncertainties over Trump case
    New York beefs up security measures amid uncertainties over Trump case
    March 22, 2023
    A Palestinian girl holds a lantern to celebrate the upcoming Ramadan, in Gaza City, on March 20, 2023. (Photo by Rizek Abdeljawad/Xinhua)
    Palestinians prepare for Ramadan amid hopes for restoring peace in West Bank, Gaza
    March 22, 2023
    Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
    Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
    March 22, 2023
    Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
    Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
    March 22, 2023
    Shoukry confirms Egypt's full support to COP28 in UAE
    Shoukry confirms Egypt’s full support to COP28 in UAE
    March 21, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Network International launches fees waiver initiative for Egyptian fintech sector
Share
Notification
Latest News
New York beefs up security measures amid uncertainties over Trump case
New York beefs up security measures amid uncertainties over Trump case
Politics
A Palestinian girl holds a lantern to celebrate the upcoming Ramadan, in Gaza City, on March 20, 2023. (Photo by Rizek Abdeljawad/Xinhua)
Palestinians prepare for Ramadan amid hopes for restoring peace in West Bank, Gaza
Politics Society in depth
Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
Politics
Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
Politics
Robert F Kennedy on the presidential campaign trail in 1968, as he talked about limitations of gross domestic product* (GDP). Alamy
Beyond GDP: Changing how we measure progress is key to tackling a world in crisis
Business Opinion
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Network International launches fees waiver initiative for Egyptian fintech sector
Business

Network International launches fees waiver initiative for Egyptian fintech sector

Daily News Egypt
Last updated: 2021/06/30 at 11:28 AM
By Daily News Egypt 3 Min Read
Share
fintech
SHARE

Network International, a leading enabler of digital commerce across the Middle East and Africa (MEA) region, has pledged to waive up to $1m in fees over a multiple-year period for each eligible start-up client in Egypt.

The move comes as part of a milestone campaign to support digital payments transformation among Egyptian financial technology (fintech), microfinance companies, and start-ups. The promotional campaign will include new and existing clients signing up for a five-year contract, before 31 December 2021.

As one of Egypt’s leading payment solution providers, Network International will help accelerate the cashless economy and support the Central Bank of Egypt (CBE) initiative on financial inclusion through this first-of-its kind initiative.

It will facilitate the issuance of local and international cards, as well as enable APIs and integrations for Egyptian start-ups to accept digital payments. New and existing clients will be offered a wide range of attractive benefits during the promotional period including zero hosting fees, zero minimum charges, and up to 75% discount on joining and implementation fees.

The only charges that clients will incur are transaction fees payable during the five-year contract term.

Commenting on the initiative, Hany Fekry, Regional President for Northern and Sub-Saharan Africa at Network International, said, “We are delighted to support the CBE’s initiative to promote financial inclusion and the digitisation of the financial sector. In our ongoing efforts to encourage the promising entrepreneurship ecosystem in Egypt, we are introducing meaningful benefits for start-ups to help them innovate and expand faster.”

Fekry added, “As the leading enabler of digital commerce across the MEA region, we care deeply about financial inclusion and look forward to continuing to enable fintechs to help transform financial services for millions of people across our region.”

The initiative is aimed at supporting cash-strapped start-ups, by eliminating the financial burden of digital payments transformation. It also aims to offer the benefits of Network International’s on-ground expertise, and trusted and secure payment infrastructure.

This includes the company’s decades-long experience in issuing card solutions for prominent financial institutions across the MEA region.

The MEA region remains amongst the most underpenetrated digital payments markets in the world, where cash transactions still dominate. As the novel coronavirus (COVID-19) crisis escalated the urgency to go cashless, Network International has continued to enable fintechs, start-ups, and microfinance companies.

This support has helped them make the transition to digital payments to help people benefit from the increased safety, security, convenience, and flexibility of cashless transactions.

You Might Also Like

Beyond GDP: Changing how we measure progress is key to tackling a world in crisis

IMF reaches staff-level deal with Somalia

HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson

Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs

SCZONE discusses cooperation with American-Hellenic Chamber of Commerce

TAGGED: fintech
Share this Article
Facebook Twitter Email Print
Previous Article EU countries offer support for Egypt’s hosting of COP27
Next Article hala zayed Egypt to upgrade 100 ambulance points, establishing 19 on main roads
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

New York beefs up security measures amid uncertainties over Trump case
New York beefs up security measures amid uncertainties over Trump case
Politics
A Palestinian girl holds a lantern to celebrate the upcoming Ramadan, in Gaza City, on March 20, 2023. (Photo by Rizek Abdeljawad/Xinhua)
Palestinians prepare for Ramadan amid hopes for restoring peace in West Bank, Gaza
Politics Society in depth
Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
Politics
Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
Politics
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?