ElGameya, a fintech mobile application, has announced the conclusion of a partnership with the Al-Ahly Momkn for electronic payment solutions to provide value-added services to merchants.
The partnership agreement was signed by Samir Abo Hashem, the Managing Director and CEO of Al-Ahly Momkn, and Ahmed Abdeen, the founder and CEO of ElGameya.
Abo Hashem said that cooperation with ElGameya allows more than 40,000 merchants to use the Al-Ahly system to join different saving pools and use the return to increase their activity.
Abo Hashem explained in a press statement that Al-Ahly can reach through ElGameya millions of customers and make its system available to them to pay premiums as part of its efforts to support the government’s plans towards financial inclusion.
For his part, Ahmed Abdeen said that cooperation with Al-Ahly is a new step towards the vertical expansion of the company under the umbrella of financial inclusion. He explained that most merchants already rely on traditional financial saving pools to purchase goods, but in the context of supporting financial inclusion and digital transformation. This is the right time to turn these pools into smooth and more effective electronic means of saving money through the Al-Ahly network
He continued, “Through the partnership, we also aim to involve merchants, as they are the most familiar with the behavior of their customers and financial capabilities, which facilitates the credit inquiry process on our part.”
ElGameya was established in 2019 by Ahmed Abdeen as an electronic platform that allows mutual financing between individuals under the name of saving pools, where users can participate in saving pools with other users who have identical saving capabilities in public circles.
The application also facilitates electronic payments, as well as having a built-in marketplace that enables users to access discounted products as an alternative to receiving cash.
It has witnessed a significant growth in the volume of its business during the last period, by 600%, and is currently working to expand its business in Egypt, especially the cities of Upper Egypt.