By Egyptian consumer electronics retailer B.TECH has launched “deel,” an omnichannel platform for local merchants.
“The deel app offers merchants the full spectrum of services to ensure efficiency and transparency while helping merchants start and further grow their businesses,” the company said in a Monday (Aug. 15) press release.
Among its services are inventory management, B2B and B2C marketplace listing, marketing solutions, doorstep delivery, store designs, and training courses offered through B.TECH Academy, the release stated. The platform also includes analytical tools and a logistics marketplace offered through Aramex, Sprint and Movex.
“As part of Egypt’s digital transformation and financial inclusion strategy, deel introduces a wide array of ePayment solutions with a diversified portfolio of financial and payment services that include credit payment terms, online payment methods, microfinance facilities, inventory finance, flexible payment terms up to 90 days and BNPL services,” the release stated.
PYMNTS looked at the issue of financial inclusion in Egypt last month in our conversation with Seif Amr, co-founder and chief operating officer of the digital investment platform Thndr.
Read more: Startups Use Tech Innovation to Move the Needle on Financial Exclusion in Egypt
Seventy-three percent of Egypt’s citizens were unbanked in 2021, which means the country has 4% of the world’s entire unbanked population.
The country also lags in the adoption of non-cash payments, with nearly three-quarters of Egyptians having never used a payment card, mobile phone or the internet to make a digital payment. It also has the world’s highest rate of cash payment for utility bills.
Amr said Thndr is trying to change the way Egyptians access investment products by making investing simpler and promoting financial literacy with its mobile app.
“We start off with education and then we provide this platform where you can learn,” Amr told PYMNTS, adding that “you can connect with other peers and then actually invest in relevant offerings in the market.”
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