XPay, a rising fintech startup, has announced a strategic partnership with Huawei Cloud Services to enhance its digital payment infrastructure for businesses in Egypt. This collaboration will integrate Huawei’s cutting-edge cloud technology, allowing XPay to scale its services further. According to an official press release, XPay’s recent performance demonstrates growing confidence from businesses in its services, as evidenced by a 75% increase in merchant adoption, a 250% rise in total payment volume, and a 340% jump in transaction numbers, all with an impressive 83% success rate.
In its commitment to financial inclusion, XPay provides a wide range of payment methods, including Apple Pay, credit and debit cards, mobile wallets, and partnerships with local providers like Fawry, Aman, and Valu. The company has secured regulatory approvals, holding licenses from Banque Misr and the National Bank of Egypt, and collaborates with Crédit Agricole.
The partnership is part of a broader trend, with Huawei Cloud Services increasingly partnering with fintech companies. Notably, in August 2024, Huawei co-hosted the Fintech Day in Saudi Arabia alongside Fintech Saudi and launched the Fintech Pioneer Programme to support digital transformation in financial services. Huawei has also extended its Financial Partner Go Global Programme, collaborating with firms like Sunline and helping UnionDigital Bank in the Philippines migrate its core banking system to the cloud in just 35 days, aiming to provide better financial access to underserved communities.
Huawei Cloud’s increasing presence in regions such as South Africa reflects its growing influence as a key player in the fintech and digital finance sectors.