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End-to-end payment provider Tafweela launches in Egypt

Tafweela, an end-to-end payment ecosystem targeted at corporate fleets, announced on Tuesday its launch in the Egyptian market.
15.02.24 | Source: Ahram Online

Aligned with Egypt’s digital transformation objectives, Tafweela will provide businesses with a seamless tap-and-go system, enabling corporate vehicles to become a convenient and efficient payment method.

The service is an end-to-end vehicle payment gateway that provides a comprehensive suite of tools and services, including fuel payments, maintenance, insurance and roadside assistance.

Marwan El-Shayeb, the company’s founder and CEO, asserted the need for a solution that optimizes fleet management, streamlines operations and reduces operational costs.

Tafweela offers a secure digital payment powered by NFC technology. Near Field Communication (NFC) is a set of short-range wireless technologies, typically requiring a distance of four centimetres or less to initiate a connection.

Fleet managers will benefit from complete visibility and control through detailed spending reports and the ability to set restrictions.

Each vehicle receives a unique digital identity, minimizing fraud and simplifying management processes.

According to Tafweela, the Egyptian market has over 10 million vehicles generating more than EGP 300 billion ($9.7 billion) in annual transactions, but a staggering 95 percent of these transactions still rely on cash.

The company has already forged partnerships with 231 fuel stations across 10 governorates, ensuring widespread accessibility upon launch.