Strategic Partnership Announcement

Banque Misr, the leading player in the acquiring market, and EFG Hermes ONE, EFG Hermes’ advanced online trading platform, have announced a strategic partnership with PayTabs Egypt, the MEASA region’s award-winning payments powerhouse. This collaboration introduces a groundbreaking debit card top-up feature on the EFG Hermes ONE platform, aiming to revolutionize the financial technology landscape in Egypt. The Central Bank of Egypt (CBE) has approved this feature, marking a significant milestone in the realm of stock trading.

Enhancing Trading Accessibility

The integration of a debit card top-up feature on EFG Hermes ONE empowers customers to seamlessly use their debit cards for securities trading. This innovation eliminates traditional barriers associated with funding trading accounts, highlighting EFG Hermes ONE's commitment to financial inclusivity and redefining the trading experience.

"At EFG Hermes, we're dedicated to making securities trading easier and more accessible to everyone. This partnership with PayTabs Egypt and Banque Misr embodies that commitment," stated Ahmed Waly, Global Head of Brokerage at EFG Hermes.

Banque Misr's Commitment to Innovation

Ihab Dorra, Chief Consumer Banking and Payment Officer at Banque Misr, emphasized the bank's dedication to financial inclusion and innovative solutions. He highlighted the bank’s commitment to digital banking, aiming to attract new client segments and align with the government's financial inclusion strategy.

"This collaboration reflects our dedication to integrating advanced technological services across transactions, ensuring we remain at the forefront of Egypt's banking sector," Dorra remarked, commending the successful partnership with EFG Hermes ONE and PayTabs Egypt.

Simplifying the Trading Process

Dina Anwar, Corporate Digital Factory Director at EFG Holding, highlighted the strategic importance of this collaboration. "By simplifying the trading journey and broadening access to financial markets, we contribute to a more inclusive financial future for Egypt. We are confident this initiative will unlock new opportunities for individuals and fuel the growth of the local economy," Anwar explained.

PayTabs Egypt's Role in Financial Technology

Karim Eyada, General Manager at PayTabs Egypt, expressed the company's commitment to pushing boundaries in financial technology. "This partnership reflects our commitment to providing innovative and secure payment solutions that meet and exceed our customers' evolving needs," Eyada stated.

Mina William, Country Business Development Manager at PayTabs Egypt, added, "Our collaboration with Banque Misr simplifies the stock trading experience and facilitates access to financial markets, making it more inclusive for a broader spectrum of investors."

Recognitions and Achievements

EFG Hermes ONE has garnered multiple awards for its excellence, including "Best Trading Platform" at the Entrepreneur Leaders in Fintech Awards 2023 and "Trading Platform of the Year" at the Entrepreneur Middle East Tech Innovation Awards 2023. It was also recognized as “Highly Regarded” at the Euromoney Marker Leaders Awards 2023 and "Online Trading Company of the Year" at the Gulf Business Awards 2022.

Broader Impact and Future Collaborations

This partnership is the latest in a series of strategic collaborations by PayTabs Egypt with leading local and regional brands such as Valu, Waffarha, Paymes, mnGm, Jaz Hotels Group, Steinberger Hotels, The Knowledge Hub, and Mazadat. These collaborations have facilitated a smooth and trustworthy payment journey for merchants and customers across various platforms and channels.