UAE’s FOO Partners with eNovate to Transform Egypt’s Digital Payment Ecosystem

Dubai, UAE – FOO, the award-winning B2B Software as a Service (SaaS) solutions provider, has announced a strategic partnership with eNovate, Egypt’s premier digital payment solutions provider, to enhance eNovate’s product portfolio and accelerate innovation in Egypt’s financial services sector.

Driving Innovation in Egypt’s Financial Landscape
As an independent subsidiary of eFinance Investment Group (EFIG), eNovate has been a pioneer in delivering integrated digital payment solutions. Originally established in 2009 as EFIG’s card services division, eNovate has grown to support a diverse range of clients, including fintechs, governmental entities, transportation authorities, and NGOs. With over 55 million cards issued and millions of transactions processed annually for Meeza, VISA, and Mastercard, eNovate is a cornerstone of Egypt’s digital payment ecosystem.

The partnership with FOO will see eNovate leverage FOO’s modular platform, built on a customizable suite of microservices, to deliver SaaS products spanning digital onboarding, banking, and beyond. This collaboration aims to provide unparalleled flexibility, scalability, and security for eNovate’s clients.

Introducing Fintech as a Service (FaaS)
FOO’s advanced ‘out-of-the-box’ Fintech as a Service (FaaS) solution will be a cornerstone of the partnership. This innovative platform enables fintechs to rapidly launch and scale operations, reducing time-to-market from years to months. By offering a comprehensive, scalable foundation, the FaaS solution empowers fintech companies to focus on innovation and growth, accelerating their path to success in Egypt’s dynamic financial sector.

First Key Project: Digital Solutions for Egyptian Universities
The partnership’s first major project involves developing an end-to-end digital solution for universities across Egypt. This solution, integrated with learning management systems, will streamline payments and identity verification processes for students via a single, user-friendly app.

Shared Vision for Digital Transformation
Ghady Rayess, Co-founder and Managing Director at FOO, stated:

“At FOO, innovation is integral to our approach. We are proud to partner with eNovate, a true industry trailblazer, to contribute to the remarkable transformation taking place in Egypt’s financial services sector. With the support of the Central Bank of Egypt (CBE), we are committed to delivering robust financial solutions that will strengthen eNovate’s position as a leading innovation hub and further drive digital transformation across Egypt.”

Nashwa Kamel, CEO of eNovate, commented:

“We are delighted to collaborate with FOO. Their commitment to cutting-edge technology aligns with our vision of providing state-of-the-art digital payment solutions in Egypt and beyond. Together, we aim to revolutionize the financial landscape, offering clients and their customers unparalleled experiences. This partnership sets new benchmarks for the industry, reinforcing our role as leaders in the global payment ecosystem.”

Future Endeavors
This partnership marks a milestone in advancing Egypt’s digital economy, with further significant projects in the pipeline. Both companies remain dedicated to fostering digital transformation and delivering end-to-end, fully compliant solutions to meet the diverse needs of clients and their customers.

For more information, visit FOO and eNovate.

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