San Marino-based BaaS fintech BKN301 has announced its expansion in Egypt in order to offer its services for the growth of the fintech sector in the region. Following this announcement, BKN301 will deliver its suite of services and solutions to Egypt-based customers, aiming to improve its process of development at the same time.

The initiative also allows the firm to participate actively in the process of financial inclusion of all segments of the population, which has been a government objective that is set to be achieved by 2030. In addition, financial inclusion represents a secure point of contact for the North African economy. The company opened its office in Cairo, following the opening of a new one in Qatar, in September 2022.

The new office will offer BKN301 a platform that can be leveraged to grow its customer base and to develop new, secure, and efficient services for the market. BKN301’s strategy of development BKN301 had multiple partnerships and product launches in the last couple of months, covering several geographic areas across the globe. In May 2023, the fintech signed an agreement with the municipality of Tbilisi, Georgia, in order to enable digital payments for taxi fares.

Following this partnership, by using the BKN301 Keepz service, citizens and tourists in Tbilisi were given the possibility to pay for taxi fares by simply using their phone devices for scanning a QR code. All taxi drivers were equipped with a QR code through which passengers and customers were allowed to pay for their rides. The clients could scan the code with their smartphones and use Apple Pay or Google Pay as a payment method, without the need to register on any platform.

The payments were immediate, and the taxi driver was set to receive the sum directly in their bank account. Earlier in the same month, BKN301 partnered with Finastra for offering digital and cross-border payment solutions to San Marino, as well as to expedite its BaaS product deployment for the MENA region. The firm went live with Finastra’s Essence in order to enable the tools.

BKN301 launched 301pay, a payment gateway white-label mode, in October 2022, to facilitate ecommerce and mobile payments in the MENA area. The technology service was designed to be flexible in order to meet the needs, preferences, and demands of customers, as well as the market context in which it operated. The B2B2C payment orchestrator represented a single gateway to a wide range of data, information, and transactions for traders and financial institutions.

In September 2022, the Banking-as-a-Service fintech expanded its tools in Qatar in collaboration with Soft Lab Business Solutions & Consulting. The BKN301 aimed to offer its BaaS solutions to customers in the region and to improve the manner in which companies develop and expand their products. Furthermore, the firms also focused on launching new digital financial instruments in high-growing countries around the world for enhancing their digitalisation transition.

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