Tamer Al-Husseini —CEO and Managing Director of Damen ePayment — has praised the Egyptian state’s direction to consolidate and generalise the foundations of mechanisation and digitisation of payments and collection, stressing that the electronic payments market is a promising one.
Furthermore, Al-Husseini stressed Damen’s strong desire to expand and invest in African countries, as it is only waiting for the right opportunity to spread in the continent and is also seeking to add new services such as premiums for insurance companies.
He explained that there is strong cooperation with banks and telecommunications companies in Egypt, where there is an actual agreement between Damen and five banks inside Egypt to provide various services, such as providing payments through the company’s machines and also by participating in the Central Bank’s initiative to deploy point of sale (POS) machines in cooperation with both Banque Misr, QNB Alahli, CIB, The United Bank, and the National Bank of Egypt.
The company also relies heavily on cooperation with telecom companies, as 70% of the company’s work volume is with Vodafone, WE, Orange, and Etisalat Misr.
Damen e-payments has been in the Egyptian market since 2018 through a network of 100,000 points within all cities and villages of the Republic and more than 26 branches at the level of Egypt’s governorates. The volume of its services increased during 2021 from 400 to more than 500 services; most notable of which, the payment of utility, landline, mobile, and internet bills, along with government, school, and university expenses. The company also processes donations, instalments for small and micro loans, and many other services.
Additionally, Damen has invested EGP 100m in establishing technological infrastructure and it is being developed with the same value of the capital to keep pace with future challenges and increase the volume of business. The company is also completing more than 650,000 operations, bringing the total services provided during the month to 18 million successful operations.
