Mohamed Wahby: AMAN Will Provide 1000 Women in Underprivileged Communities with its POS Machines and App
(Cairo – September 5, 2021) AMAN for E-Payments, a subsidiary of AMAN for Non-banking Financial Services and E-Payments under the umbrella of Raya Holding for Financial Investments, has announced a new partnership with Arab Women’s Enterprise Fund (AWEF), the leading organization working to achieve financial and social empowerment for women. It comes as a part of AMAN’s efforts to promote financial inclusion for minority groups.
AMAN for E-Payments – in cooperation with AWEF, aims at empowering 1000 women from low-income communities to be included in AMAN’s network of merchants – which, in turn, other women in the same network. AMAN shall provide women with POS machines and AMAN’ POS online app, besides financial support to begin their work – a step that encourages other women to use e-payment methods and be financially included in their communities.
“AMAN strives to achieve financial inclusion for all segments of societies in Egypt, especially women in less fortunate communities. Therefore, we are pleased to be an effective technical and financial partner to the leading foundation in women’s financial empowerment, AWEF, which operates in Egypt and other Arab countries,” commented Mohamed Wahby, the CEO of AMAN for E-Payments. “Such a project is at the core of our strategy and social responsibility,” he added.
“Under this partnership, AMAN provides its POS machines and app to empower 1000 women in underprivileged communities, besides an amount of money to facilitate the early steps of their work. We strongly promote AWEF’s strategy that aims at expanding digital finance projects and financial inclusion for women,” Wahby said.
“AWEF works to promote women’s financial empowerment. We believe that providing women with financial services and payment facilities is a key pillar in achieving gender equality in the workplace,” said Youmna Mustafa, the director of AWEF. “We are delighted with our partnership with AMAN, as a key player in financial digital services’ market in Egypt. Thus, we look forward to our fruitful cooperation with AMAN that shares our journey to empower women.”
AWEF is a development program aimed at women’s economic empowerment, funded by the Foreign, Commonwealth and Development Office (FCDO). AWEF has recently launched an initiative to expand work with digital financial service providers in Egypt and Jordan. Under this initiative, AWEF investigates the needs of women – as users of digital financial services, facilitates their access to digital financial services, and encourages the development of a financial services infrastructure that provides women with services and products to promote their financial empowerment and participation in the Labor market.
AMAN for E-Payment is one of the three arms of the AMAN for Non-banking Financial Services and E-Payments, under the parent company Raya Holding for Financial Investments. As a leading company in fin-tech in Egypt, AMAN for E-Payment works to achieve financial inclusion through digital solutions. It offers over 700 services through its network of over 120,000 merchants in Egypt. It also works to achieve a cashless society and raise merchants’ awareness to accept non-cash transactions.
Empowering women is a top priority for the AMAN for Non-banking Financial Services and E-Payments as a whole, as the percentage of women’s projects funded by the sister company AMAN for Microfinance has exceeded 40% of the business volume in 2020.
Aman Financial Services, affiliated to Raya Holding for Financial Investments, has signed a protocol of cooperation with the National Bank of Egypt (NBE) to deploy 25,000 point of sale (POS) terminals.
The cooperation comes as part of the Central Bank of Egypt (CBE) initiative to stimulate e-payments in Egypt, rather than cash exchanges. This is in line with the Egyptian state’s economic vision to achieve sustainable development and transition to a cashless society.
Aman CEO Mohamed Wahby said the protocol falls under the CBE’s recently launched initiative to launch 100,000 POS across the country before the end of the current year.
Wahby added that his company will also deploy 25,000 additional POS in the coming six months, which would expand its currently offered services by 55,000 POS. This includes 30,000 that accept bank cards and 25,000 that are QR-Code Reader.
Launching its services in Q3 of 2016, Aman has since assumed a game – changing role in the e-payments industry in terms of foot-print in the market. Aman launched with a steep target of more than 20,000 merchant outlets providing the service across the nation within 2017. Aman represents the fastest growing network of merchants with highest accessibility in the market. Aman has a record setting performance of more than 85 transactions/second; and an augmented customer experience, for both our end customers and merchant partners.
Aman for e-payments has also successfully established strong relationships with partners of success to avail relevant and useful services to consumers. Partners from the telecom, banking, and non-profit sectors, amongst others, were first to join the network of billers and have shared Aman’s vision of creating a cashless and financially included society for the average Egyptian consumer. With its young and dynamic team of talents.
Aman for e-payments has pledged to lead the market towards a new era of innovative technology and convenient, easy and affordable services to the masses. With its sprint start, Aman for e-payments will continue to set the trend in the Egyptian e-payment market, bringing global digital advancement with a local flavor to the market.