Egypt-based bank Banque du Caire has announced the launch of its e-payments platform Taly , a fintech company arm, to expand within the digital transformation services field. With investments amounting to USD 16.

28 million (EGP 500 million), the launch is in line with the bank’s expansion strategy and marks the introduction of this platform in Egypt and the Middle East with the aim of providing the most up-to-date innovative technological solutions within the field of digital payments. Banque du Caire digitalisation strategy and how Taly falls into place Based on the information provided in the company’s press release, the platform is believed to play an effective role in having digital transformation together with financial inclusion supported in line with the state and the Central Bank of Egypt’s (CBE) directives towards the implementation of Egypt’s 2030 vision. As per the statement of Tarek Fayed, Chairperson and CEO of Banque du Caire, the company is looking forward towards developing a strategy with ‘unique leadership’ within the field of digital payments, aiming to both meet the needs of the Egyptian market, as well as achieve sustainability.

What is more, Bahaa El-Shafei, Executive Vice-Chairperson of Banque du Caire added that Taly aims to be a comprehensive platform for digital payment solutions in Egypt. The announcement details that Taly provides ‘special’ features that aim to enable its customers to leverage integrated solutions for electronic payment and collection alike. Furthermore, the announcement indicates that the company is looking to expand within the Egyptian market and serve all sectors, together with merchants, individuals, banks, companies, and financial institutions.

Taly also launched an online payment gateway, which is believed to be the first local system of its kind in the region and provides effective features to help customers with managing all payment and collection operations by offering up-to-date integrated technology infrastructure. As per the information detailed in the press release, Taly also aims to support merchants and companies alike to have their profitability increased by providing a system that enables effective, digital bill trading and collection, together with the needed solutions for obtaining digital financial facilities in an instant manner. When commenting on the announcement, Abdelhamid Mortagy, acting head CIO at Banque du Caire advised that the paid-up capital of the company amounts to EGP 500 million (approximately USD 16.

28 million), and they believe Taly to be a ‘strong addition’ to Banque du Caire’s investment portfolio, which is looking to have investments diversified, in addition to the bank’s investments in the non-banking financing field of financial leasing, exchange, and money transfer. .