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RIYADH: Cairo-based fintech platform NowPay has announced its partnership with some of the world’s biggest names in the food and beverages sector, according to a statement. The platform, which allows companies to enable employees more flexible access to their salaries, has confirmed that McDonalds, KFC, Pizza Hut, Kraft Heinz, Americana Group, Edita and the Wadi Group have
The MoU marks one of the first collaborations between fintech startups and financial institutions in Egypt. NowPay allows corporate employees to get their salaries in advance any time in the month through its mobile app, which means access to emergency funding anytime, hence better manage their budget. Launched in 2019, NowPay aims at lowering employees’ financial stress by improving the four pillars of financial wellness for employees; saving, spending, budgeting, and borrowing. The company most recently raised $2.1 million in seed investment in May 2020 in a round led by Foundation Ventur...