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00:00Billionaire's will and profits are doubled from time to time.
00:04This is how the performance of the financial printing companies in Egypt was expressed by the e-payment company Fowry and E-Finance, which are both in the Egyptian stock market.
00:13With wills that exceeded the first time the billion pounds for each of them and net profits that exceeded 800 million pounds.
00:21The summary of the operating performance for the first quarter of the current year, which is growth,
00:27came as a result of the increase in e-commerce in Egypt and e-finance,
00:32thanks to the increase in financial transactions and the reliance on smart phones to complete transactions.
00:38One of the reasons that led to the increase in profits of e-payment companies is the expansion of online purchases,
00:46as well as the increase in the awareness of individuals and financial transactions.
00:52Therefore, most individuals now resort to e-payment companies for online purchases and other financial transactions.
01:04This reflects the companies in achieving large profits and returns, and leads to the doubling of the profits of companies from time to time.
01:13The services of e-payment companies in Egypt have not been limited to e-payment operations,
01:18but companies have recently expanded their services to include other fields such as financial transactions, financial activities,
01:25paying bills and recharging, in addition to some digital services with a banking nature.
01:31This diversification will contribute to the increase in the wills of companies and attract more customers for the next period.
01:37In the next period, we will start to see financial technology in all industries.
01:42We will see it in the real estate sector, in the commercial transactions sector, in the health sector, in the services and communications sector.
01:51Today, companies are part of those who provide financial technology.
01:56It can be a company that provides, for example, technology in communications, services in communications,
02:02but embedded within it, it provides financial technology.
02:06It has a wallet, where you can put money, connect it to a credit card, and it can give you points.
02:12All of this is a kind of connection, because you do not provide a single service now.
02:16This, and the Central Bank deserves it, has increased the percentage of financial transactions by 100% in six years,
02:22and increased the number of digital financial reserves to about 80 million reserves.
02:27Demand for e-payment and expansion in the field of financial services has been reflected in the profits of e-payment companies in Egypt.
02:35It is expected that this growth will continue, due to the increase in digital activities and financial services.
02:42Farouk Youssef, CNBC Arabia, Cairo.