solutions, has entered into an MoU with the Export Development Bank of Egypt (EBE).
Established in 2019, NowPay has been launched to help reduce workers’ financial stress by improving the key pillars of financial wellness for employees: saving, spending, budgeting, and borrowing.
Per the terms of the MoU, EBE will offer a credit facility to finance NowPay’s current salary advances product and will also cover the development of other products.
The MoU has been signed as EBE continues to focus on enabling greater financial inclusion in Egypt by working with innovative startups.
Gehan Fathi, Head of Financial Partnerships at NowPay, stated:
“We believe that the cooperation with Export Development Bank of Egypt will assist in growing our current business model in addition to offering more innovative fintech products to users.”