FinTech

Strategic Partnership Between BELBAQY and OPay

To Enhance Financial Inclusion and Sustainability Across Egypt

The BELBAQY platform, specializing in financial technology, has announced its collaboration with OPay, specializing in electronic payments and smart payment services. This collaboration aims to expand the “BELBAQY” Point of Sale (POS) network across Egypt, making BELBAQY’s financial services more accessible to everyone.

By leveraging OPay’s vast network, with over 90,000 POS locations across most Egyptian governorates, BELBAQY plans to increase its presence. The service is already available at nearly 80% of the POS systems of Egypt’s electronic payment companies, ensuring BELBAQY services are accessible nationwide, especially in hard-to-reach areas such as villages and rural areas.

However, this partnership is not just about expansion; BELBAQY also aims to promote financial literacy and sustainability. The platform enables users to invest their leftover change in micro-investments, benefiting from cumulative returns. This transforms small leftover amounts into valuable savings and investments over the medium and long term.

This partnership underscores OPay’s commitment to driving innovation in Egypt’s financial technology sector and collaborating with all stakeholders in the financial sector. OPay offers a wide range of innovative digital payment solutions.

BELBAQY encourages individuals to reduce financial waste through conscious saving strategies, helping them turn excess amounts from everyday transactions into savings and investments. The partnership provides innovative solutions tailored to meet the needs of all societal segments, with a particular focus on empowering women through tools designed specifically for their financial needs. These tools include rounding up expenses such as groceries, transportation, and bills to the nearest whole number and automatically investing the difference. Additionally, cashback rewards from online shopping and loyalty programs can be linked to investment opportunities.

Osama El Shafei, CEO of the BELBAQY platform, spoke about the partnership, stating:

“Our partnership with OPay is a pivotal step toward enhancing financial inclusion in Egypt. We aim to provide innovative solutions that empower individuals, especially in rural areas and women, to access sustainable and efficient financial services. We are confident that this collaboration will benefit a wide range of users, supporting our goals of turning every transaction into a valuable investment opportunity. Moreover, BELBAQY helps with financial literacy and enables the unbanked to gradually become part of the banking system.”

For his part, Mahmoud Khedr, CEO of OPay, said:

“We are pleased to be part of this significant transformation in the Egyptian market through our partnership with BELBAQY. OPay believes that innovation is the key to unlocking new opportunities in the world of digital payments. Our collaboration with BELBAQY reflects our shared vision of empowering communities to access advanced and accessible financial solutions. Together, we are working to achieve a more sustainable financial future for everyone. OPay is committed to providing the latest and best technologies and solutions in financial technology, and this partnership demonstrates our dedication to offering customers a seamless and innovative payment experience. This partnership will open new doors for innovation and growth in the digital payment sector.”

This agreement marks an important step toward enhancing financial inclusion and sustainable development in Egypt. Together, BELBAQY and OPay aim to create a financial environment where every penny counts, emphasizing that small actions can lead to significant changes.

Related Articles

Back to top button