Contact Pay , a subsidiary of Contact Financial Holding, has entered into a partnership with a subsidiary of Basata Holding . The primary aim of this partnership is to strengthen Egypt’s digital payment infrastructure and widen the range of financial services provided by Contact Pay across the country.

As part of the collaboration, Contact Pay will leverage Basata’s extensive network to expand its presence throughout Egypt. Both companies plan to offer more inclusive digital payment services, including the introduction of instalment collection services for Contact customers. Additionally, Contact's instalment services will be integrated into Basata's payment terminals.

In essence, the joint effort aims to meet the growing demand for advanced payment options across Egypt. Representatives from Basata Holding noted that the partnership with Contact Pay will enhance the provision of electronic payment services across their network, which includes more than 160,000 points of sale and e-wallets according to dailynewsegypt.com. They emphasised that the collaboration supports Egypt's digital transformation goals.

In turn, officials from Contact Pay underscored the importance of the agreement, explaining that it marks a key step in expanding the company’s reach in the Egyptian market. They also pointed out that Basata’s network and technological capabilities will enable Contact Pay to deliver secure and innovative payment solutions. Contact Financial Holding officials remarked that the partnership aligns with the company's wider vision to enhance digital financial services in Egypt, further contributing to the digital transformation of the country's financial sector.

Other developments from Basata In September 2024, Basata Holdings worked with Jordan Kuwait Bank to acquire a 27.1% stake in MadfoatCom, which is a Jordan-based electronic payment company. This partnership aimed to offer flexible payment solutions that cater to a wide range of societal needs, including online and mobile payments, money transfers, bill payments, and other financial services. According to Zawya, efforts will also be made to support SMEs in adopting digital solutions.

Through this partnership, the involved parties aimed to contribute to economic growth in Jordan and drive the region's digital payments sector forward. Source: Link .