We sat down with Omar ElMoataz, NymCard’s Country Manager for Egypt. In this conversation, Omar shares his approach for NymCard’s role in the Egyptian market, and how NymCard plans to leverage its regional expertise.
Q: What sets NymCard apart in the Egyptian market?
Omar: We’ve built a ‘Dream Team’ here in Egypt with industry experts who really understand the local market. Combined with our state-of-the-art technology and 150+ APIs, we offer unmatched flexibility and control to our partners. We have invested millions of dollars in our infrastructure to ensure stability and client delight that’s unmatched.
Q: How does NymCard plan to expand its services in Egypt?
Omar: We believe in partnerships. We have already successfully partnered with several leading tech vendors, payment providers, banks, fintech companies, and consumer finance organisations. These collaborations are important to our strategy as they allow us to integrate our BaaS technology with established financial institutions, offering solutions to end consumers. Great partners not only help us with reach and access to markets, they also help us innovate and keep our products super relevant
Q: How does NymCard’s wider regional presence help the Egyptian market?
Omar: First and foremost it boosts confidence and credibility, knowing that we are operating across MENAP. We have a tried and tested modular platform. For our clients and partners it provides a strategic advantage for their own expansion plans and scaling into new or other markets.
Q: What role does Egypt play in NymCard’s broader regional strategy?
Omar: Egypt is a strategic hub for our expansion into Africa. The country’s solid financial infrastructure and vibrant fintech scene make it an ideal launchpad for our operations across the continent.
Q: How do you perceive the fintech landscape in Egypt right now?
Omar: Consumer adoption of digital fintech services in Egypt is growing fast! Consumers are becoming more and more comfortable using digital wallets, BNPL, online banking, and mobile payment solutions. There is significant interest in personalised financial products and services that cater to individual needs. As digital literacy improves and more people gain access to the internet, we expect this trend to continue.
As NymCard continues to grow and evolve, it remains dedicated to driving positive change and fostering a more inclusive and innovative financial ecosystem in Egypt, and beyond.
