Tarek Fayed, Chairperson and CEO of Banque du Caire, announced the launch of the “Tally” e-payments platform, as one of the bank’s financial technology companies, with investments amounting to EGP 500m.
The launch comes in light of the bank’s strategy to expand in the field of digital transformation services. “Tally” is the first platform of its kind in Egypt and the Middle East, providing the latest innovative technological solutions in the field of digital payments.
Fayed said that the platform will play an effective role in supporting digital transformation and financial inclusion in line with the directives of the state and the Central Bank of Egypt (CBE) towards implementing Egypt’s 2030 vision.
He said that the company is keen to develop a strategy with unique leadership in the field of digital payments to meet the needs of the Egyptian market and achieve sustainability.
Bahaa El-Shafei, Executive Vice-Chairperson of Banque du Caire, explained that “Tally” is a comprehensive platform for digital payment solutions in Egypt.
It comes with special features to enable its customers to have integrated solutions for electronic payment and collection.
He indicated that the company aims to expand in the Egyptian market to serve all sectors, including merchants, individuals, banks, companies and financial institutions.
He added that Tally has launched an online payment gateway, which is the first local system of its kind in Egypt.
It provides effective features to enable its customers to manage all payment and collection operations by providing the latest integrated technology infrastructure.
Tally also supports merchants and companies to increase their profitability by providing an effective system for trading and collecting bills digitally, as well as providing the necessary solutions to obtain digital financial facilities instantly.
Abdelhamid Mortagy, acting head CIO at Banque du Caire, said that the paid-up capital of the company amounts to EGP 500m. He stressed that the company is a strong addition to Banque du Caire’s investment portfolio, which aims to diversify investments, in addition to the bank’s investments in the field of non-banking financing such as financial leasing, exchange, and money transfer.