Cairo 22 Apr 2024:
eKhales, the leading digital payment subsidiary of e-Finance Investment Group, has partnered with Balad, a leading B2B fintech specializing in cross-border remittance payout infrastructure in Egypt, to unveil innovative bill payment solutions catered to Egyptian expatriates residing in over 60 countries worldwide.
This strategic collaboration aims to empower Egyptian expatriates with unprecedented control and convenience in managing their financial obligations back home. Leveraging Balad’s extensive network of global fintechs, MTOs, and wallets, in combination with eKhales’ expertise as Egypt’s premier bills aggregator, the partnership enables expatriates to effortlessly settle bills, top-up mobile phones, pay school and university fees, and make installment payments.
The state-of-the-art offering provides Egyptian expatriates with a secure, reliable, and user-friendly platform to manage their financial responsibilities and cross border remittances. This partnership represents a significant step forward in simplifying the lives of Egyptians abroad and strengthening their ties to their homeland.
Adham Azzam, CEO & Co-founder of Balad, underlined the importance of this collaboration, stating, “Balad is committed to transforming cross-border remittances and empowering Egyptian expatriates with seamless financial solutions. Through our partnership with eKhales, we are thrilled to offer our FinTech and MTO clients a game-changing bill payment access to better engage with the Egyptian Diaspora and provide them with enhanced control over their finances.”
Ahmed EL Tantawy, Board Member, and acting MD of e-Khales, emphasized the significance of this partnership, adding, “At eKhales, our mission is to deliver innovative digital payment solutions that cater to the diverse needs of our customers. By collaborating with Balad, we are excited to expand our services to Egyptian expatriates worldwide, providing them with a convenient and secure platform to manage their bill payments and financial obligations.”
The Balad and eKhales partnership is set to revolutionize the landscape of cross-border bill payments for Egyptian expatriates, offering a comprehensive suite of services that streamline financial transactions and strengthen the connection between migrants and their homeland.
eKhales is the digital payments subsidiary of e-finance Investment Holding, dedicated to serving individuals by providing a unique and convenient digital payment experience. They operate as the largest aggregator of various essential bills for Egyptian citizens, including electricity and utilities, universities, schools, internet, telecommunications, and more, through secure digital channels such as payment apps, portals, e-wallets, and online solutions. They also collaborate with electronic payment companies in the Egyptian market and banks in cooperation with international networks such as Visa, MasterCard, and Meeza. e-finance, established in 2005, is a pioneering national developer of digital payments infrastructure and a driving force behind Egypt’s growing digital economy. They operate and manage the Egyptian Government’s financial payments hub.
About Balad:
Balad is a leading B2B fintech company dedicated to revolutionizing cross-border remittance flows into emerging markets, with a primary focus on Egypt, the fifth-largest recipient country of remittances. Through its API-driven platform, Balad facilitates simpler onboarding processes, quick integration, and access to a wide range of financial services for global fintechs and MTOs. Balad also offers value-added services and bill payments in Egypt, tailored to the needs of Egyptian migrants abroad, fostering stronger connections between migrants and their homeland.