Dopay Granted Banking Agent License by Bank ABC Egypt

​Fintech innovator Dopay announced that it has been awarded a banking agent license through Arab Banking Corporation Egypt (Bank ABC Egypt). The license enables the firm to launch a next generation virtual banking platform that allows businesses to instantly open accounts for their employees and other beneficiaries and pay them in real-time.

Obtaining the license is a significant landmark on Dopay’s journey to becoming a leading virtual banking platform in Egypt, according to Frans van Eersel, Dopay Founder and CEO.

The dopay platform enables businesses to open personal accounts for their employees, contractors, and other beneficiaries in seconds. Staff can be paid instantly, even during weekends and holidays. Each account provides a prepaid debit card, enabling 24/7 access to funds. Enrolled businesses benefit from a secure and cashless payroll, with simple-to-use interfaces and fully auditable transparency. Personal account users enjoy instant and secure access to mainstream banking facilities, irrespective of how much they earn.

“Being granted this licence will give our existing and prospective customers even more confidence in our ability to deliver the fast, convenient and secure cashless payment services they need to help grow their businesses, benefit their employees, and fulfil their ambitions. It is also a vital next step to making our platform the foundation for delivery of many more new services to come,” Frans van Eersel added.