The company invests mainly in the field of non-banking financial services as well as financial technology solutions (fintech).
CEO of Noqood Holding Company Abdelrahman Ali told Ahram Online that KashNow is the first arm of the holding company with a paid-up capital worth EGP 30 million and specialises in payment services for companies operating in Egypt and reducing pressure on the liquidity available to them through cooperation with the Suez Canal Bank to issue Meeza cards.
He added that KashNow extends three key services, including ‘Salary in Advance’, which allows employees to lend up to 85 percent of their salaries, while the second product; in addition to the ‘Corporate Card’, which is mainly about issuing cards in favour of companies, enabling them to pay their periodic financial obligations through international and local online and offline payments.
Additionally, it introduces the ‘Fleet Trip Finance’, which avails liquidity to drivers working for companies and it allows the possibility of transferring cash balances to drivers for use in maintenance, fuel supply, etc., in agreement with those companies before transferring those funds to the card, according to Ali.
Ali also assured that the company's strategy is in line with the government’s policies regarding digital transformation and financial inclusion, adding that KashNow is ready to deal with all local companies in their various sectors and is looking forward to new shareholders from financial institutions to provide more financial solutions for companies and individuals.
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