Network International, a leading enabler of digital commerce in the Middle East and Africa, has partnered with Money Fellows, the leading money circles app, to power a new solution that will leverage its best-in-class payment functionality.
Under the partnership, Network will provide Money Fellows with its ‘Digital Payments as a Service’ platform with value added services including advanced fraud prevention, fully secure payment functionality, as well as a full suite of back office managed services. This platform will enable Money Fellows to enhance the app’s versatility and user experience. Utilising its pan-regional experience, Network will support Money Fellows’ expansion across the Middle East and Africa region.
Dr. Reda Helal, Group Managing Director – Processing, Africa & Co-Head Group Processing at Network International, said: “We are pleased to partner with Money Fellows to enhance their market offerings and competitiveness, while supporting the company’s expansion into new markets in the Middle East and Africa. This collaboration signifies a major milestone in the fintech sector in the country that is currently experiencing rapid growth, aligning with the Egypt National Vision 2030 plan.”
Ahmed Wadi, CEO & Co-Founder of Money Fellows, said: “We are thrilled to collaborate with Network International on this significant milestone for our company. We are taking this step with confidence, knowing we have the right partner in Network International to ensure the payment functionality and security that our users deserve. This launch marks a pivotal moment in our journey, reinforcing our leadership position in the market and setting the stage for our regional expansion.”
Network International is the largest digital payments company in the Middle East and Africa, operating in 50+ countries and serving governments, banks, fintechs, and merchants. With 2,000+ employees, it supports over 250 financial institutions and 130,000+ merchants.
Money Fellows, founded in 2018, has revolutionized traditional financial practices with its secure and flexible Money Circles, attracting over 7 million users. Aligning with Egypt’s financial inclusion strategy, it operates under the Central Bank of Egypt’s Regulatory Sandbox. To date, Money Fellows has secured $45 million in investment, reflecting its impressive growth and innovative approach to financial well-being.
