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Tamer Al-Hussainy: Damen e-Payment negotiates new investors

Damen e-Payment joined the 26th edition of the Cairo ICT conference, which kicked off last month. The CEO, Tamer Al-Hussainy shared, during his speech at the conference, the corporate’s short-term plan to expand, following its eminent success in the electronic payment sector over the past few years.

He confirmed that the company will continue to attend the conference in the upcoming years, as it provides them with the opportunity to meet their competitors in the field, and introduces them to new ideas and technologies as well.

Despite the pandemic crisis in 2020, Damen e-Payment established its journey in Egypt and quickly evolved in a three-year span.

“But we succeeded in providing new solutions to the market and working close to the customer, and this enabled us to succeed, in 2020, we achieved steady growth, and the volume of proceeds was EGP 2.75bn. In 2021 we achieved around EGP 6.25bn, and by the end of this year, the figure rose to around EGP 12bn.” Tamer told Daily News Egypt.

As for their plan for next year, Al-Hussainy announced the initiation of an online application “Damen e-wallet”, which will give their clients easy access to pay their bills at all times.

The CEO took pride in declaring that Damen’s share has hit the 7% mark, adding that they intend to double the percentage very soon.

According to his remarks to Daily News Egypt, the company might not be as present in Cairo and Alexandria as its rivals in the field, however, its nationwide presence definitely makes up for it. He added that the company derives its success from the rest of the governorates of Egypt.


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