The partnership is situated within Egypt’s wider efforts to achieve a digital transformation across the country.
Payments management service, Klickit, is collaborating with Banque Misr to bring the fintech’s Education Payment Hub service to the wider market, becoming Egypt’s first bank to offer a digital end-to-end payment management and collection platform to the education sector within the country.
The web-based solution is designed for payment management needs within the education sector, accounting for both small and large fees including tuition payments or activity costs. It will be powered by Banque Misr’s payment channels, which range from online card payments and over-the-counter direct deposits, to simply scanning QR codes or payments via point-of-sale (POS).
“School administrators typically reconcile all payments done at the bank, and through other channels, by manually inputting the data into their databases,” said Saeed Talaat, Co-founder and CEO at Klickit.
The process, he explained, is intensely time-consuming and takes up an average of five hours of their workday. “With the Education Payment Hub, we can wave goodbye to these days and welcome in the era of instant reporting, management, and reconciliation of all payments through one dashboard,” said Talaat.
Ihab Dorra, the Head of Branches and Retail Banking at Banque Misr situated the new partnership within Egypt’s efforts as it embarks on a digital transformation.
“Partnering with Klickit comes within the framework of Banque Misr’s long-term commitment to expand electronic payment services to enhance financial inclusion efforts and gradually shift towards a cashless society,” he explained.
“This serves one of the most important objectives of our strategy to focus on innovative financial technology, with the aim of providing distinguished banking and financial services in order to reach more sectors of society and provide financial solutions that suit them,” added Dorra.
Klickit has been using its integrated digitisation systems to facilitate end-to-end payment processes and establish partnerships with both private and public entities for digital payments transformations. Operating in Egypt and globally, it has processed over EGP 100 million as a partner for 120 educational entities.