Taly has announced the launch of its comprehensive ecosystem for digital payments and collection solutions in Egypt. The official launch came during a press conference, wherein Taly introduced its pioneering solutions that enables banks, corporate, merchants, fintechs and consumers through a seamless ecosystem, backed by one of the largest on-soil infrastructures in the MENA region. In light of the increasing demand for digital transformation by banks, corporate, and the entire business community, Magdy Hassan, CEO of Taly, highlighted the impact of Taly's services on the Egyptian market, in line with the objectives of the Central Bank of Egypt (CBE) in regard to cashless economy and Egypt Vision 2030. "Taly seeks to become the strategic catalyst advancing digital transformation in the Egyptian market while exporting its innovative solutions to the region, as Taly is the first full-fledged digital ecosystem for payments and collection services solutions, with total investments of EGP 500M," Mr. Hassan stated. Mr. Hassan also added: "Taly is committed to empowering all its stakeholders by providing state-of-the-art digital payment solutions, introduced for the first time ever in Egypt, where Taly offers tailormade solutions for each stakeholder. Taly offers a well-rounded digital solution for instant payment acceptance and collections, as corporate and merchants are enabled to manage, control and settle all their payments, instantly through digital solutions suitable for all segments, increasing their profitability. Simultaneously, Taly helps merchants expand their business online through e-commerce with convenient digital solutions, as well as obtain digital financing through banks and financing corporations. Taly offers a wide range of digital solutions for Banks and their customers like tokenization, where the customer can use his phone as an alternative to plastic cards. In addition, Taly offers unique features for cards enabling customers to control their cards in real time and monitor personal and family cards. These unique features include setting withdrawal limits and controlling where to use the cards through a secure mobile application without the need to contact the bank. Taly also enables banks and financial institutions with an integrated platform for managing and offering their buy-now-pay-later (BNPL) services, through which they can grant credit and collect installments digitally. Taly also helps BNPL providers to make the right credit decisions and determine the scope of financing, utilizing analytics provided by Taly's integrated platform. In line with its strategy to empower corporates and enhance their business operations and financial transactions, Taly offers corporate various solutions like issuing digital invoices, VCN and corporate prepaid cards. All these cards and their uses and limits can be controlled through Taly along with the ability to track and monitor all transactions, control spending and view analytics. The financial technology sector in Egypt has a very promising future, and has witnessed rapid development, thanks to the diligent efforts of the Central Bank of Egypt. In the light of this development, Taly is keen on fostering this sector further by means of empowering fintech startups in implementing their innovative ideas through the appropriate infrastructure. By turning these innovations into reliable digital financial products, Taly contributes to supporting the digital payment landscape in Egypt, bringing the country a step closer to achieving its digital goal within 'Egypt Vision 2030'.
