EFG Hermes partners with Betabs to establish e-payment company

CAIRO – 13 April 2020: EFG-Hermes announced that it has entered into a strategic partnership with Betabs, the world leader in providing financial technology solutions, to launch Betabs Egypt Company.

Hermes said in a statement issued, Monday, that "Betabs Egypt" is scheduled to create a new technology platform of its kind to provide electronic and digital payment services, in order to meet the needs of multiple segments of high and middle income customers, in the context of enhancing financial inclusion.

The company aims to enable customers to carry out their financial transactions quickly and easily, whether they are buying or collecting money or paying bills, through the Internet and other means.

According to Hermes, these advantages and integrated solutions are provided through a user-friendly platform that customers can use the platform in doing their various financial transactions by following a few simple steps.

The financial expert Hany Soliman has been assigned the position of General Manager of "Betabs Egypt", knowing that Suleiman has 17 years of experience in the field of financial services, business development and strategic management, as well as his extensive experiences in the field of digital innovation and strategic alliances.

Betabs Egypt will provide a diversified and innovative package of financial services technology solutions, in addition to providing a package of distinguished electronic payment services and solutions that can be easily integrated into various electronic services platforms, as the new services are characterized by enabling merchants and consumers to carry out purchase and payment transactions in one step.

Betabs Egypt also intends to provide services to companies and commercial entities by providing many advanced methods for accepting payments such as the “QR Code” and electronic payment gateways.

For his part, CEO of EFG Hermes Finance and the head of the debt arrangement and structuring sector, Walid Hassouna, indicated that this partnership will support the market with a service platform that enables its clients to execute their financial transactions through safe and effective means while bridging the gap in payment services.

He emphasized that the goal of signing this partnership is to contribute effectively to preparing the Egyptian market for the adoption of non-cash payment systems, in addition to supporting customers or consumers through all stages of buying and selling.

Hassouna noted that the establishment of the new company coincides with the spread of alternative payment solutions, most notably electronic wallets and bank transfers that meet the needs of consumers via the Internet.