A new digital payments and collection solution, Taly, launched yesterday, aiming to bring a seamless ecosystem for banks, corporates, merchants, and consumers
A new digital payments and collection solution, Taly, launched yesterday, aiming to bring a seamless ecosystem for banks, corporates, merchants, and consumers, backed by one of the largest on-soil infrastructures in the MENA region.
“Taly seeks to become the strategic catalyst advancing digital transformation in the Egyptian market while exporting its innovative solutions to the region, as Taly is the first full-fledged digital ecosystem for payments and collection services solutions, with total investments of EGP 500M,” explained Magdy Hassan, Chief Executive Officer of Taly, who highlighted the potential the impact of Taly’s services on the Egyptian market.
“Taly is committed to empowering all its stakeholders by providing state-of-the-art digital payment solutions, introduced for the first time ever in Egypt, where Taly offers tailormade solutions for each stakeholder,” he added, pointing out that the company is in line with the objectives of the Central Bank of Egypt (CBE) in regard to cashless economy and Egypt Vision 2030.
According to a statement by the company, Taly will offer a well-rounded digital solution for instant payment acceptance and collections, enabling corporates and merchants to manage, control and settle all their payments instantly through digital solutions suitable for all segments, increasing their profitability.
Taly will also help merchants expand their business online through e-commerce with convenient digital solutions, as well as obtain digital financing through banks and financing corporations.
For banks, the company has a wide range of solutions, including tokenization which enables users to use their phones as an alternative payment method to plastic cards.
Additionally, Taly provides the average consumer with the ability to control their cards in real-time and monitor personal and family cards with features including setting withdrawal limits and controlling where to use the cards through a secure mobile application without the need to contact the bank.
Taly also provides banks and financial institutions with an integrated platform for managing and offering their buy-now-pay-later (BNPL) services, through which they can grant credit and collect installments digitally. By utilizing analytics provided by Taly’s integrated platform, BNPL providers are able to better make credit decisions and determine the scope of financing.