Swypex has joined forces with Visa to transform business payments in Egypt, offering innovative solutions to streamline financial operations, boost efficiency, and manage corporate spending through integrated tools.
Launched in 2024, Swypex has experienced rapid growth, increasing transaction volumes by 100x and reducing client cash reliance by 70%. This performance reflects strong market confidence in Swypex’s offerings.
Swypex provides businesses with corporate cards and smart controls that allow for real-time tracking and seamless integration with ERP systems, significantly enhancing financial management capabilities. As an all-in-one financial management platform, Swypex’s partnership with Visa, a global leader in digital payments, aims to revolutionize how businesses handle their finances, streamline operations, and adopt smarter payment solutions.
Growth and Market Impact
Since securing a USD 4 million seed investment and launching in May 2024, Swypex has onboarded hundreds of businesses, scaling transaction volumes significantly. The fintech’s rapid growth is a testament to its market appeal, with a 70% reduction in client reliance on cash. This success aligns with Visa’s expectations for the partnership’s impact on Egypt’s business landscape.
The partnership aims to unlock new revenue streams for Swypex, focusing on B2B payments, expense management, and corporate spending controls. Visa contributes not only financial backing but also access to its global network, marketing resources, and expertise.
Empowering Businesses with Financial Control
Swypex provides businesses with unlimited corporate cards and smart controls, enabling companies to set spending limits, specify permissions, and track employee transactions in real time. The platform integrates seamlessly with ERP systems, accounting software, and government e-invoicing solutions, providing a centralized tool for financial management.
Visa has also supported Egyptian startups by providing resources and tools to help scale operations. Malak El Baba, Visa’s Egypt Country Manager, emphasized that the collaboration will drive financial inclusion and promote economic growth in the region.
A New Era for Business Payments
Ahmad Mokhtar, Co-Founder and CEO of Swypex, spoke on the partnership, highlighting a new era for business payments in Egypt. He envisioned delivering secure, scalable financial solutions that enable businesses to thrive in an ever-evolving market.
Tarek Mokhtar, Co-Founder and CTO of Swypex, emphasized technology’s role in simplifying financial operations for businesses and lauded Visa’s support in pushing the platform’s boundaries with advanced features.
Visa’s global fintech partnerships have already driven digital adoption in markets like Brazil and India, and the partnership in Egypt is expected to bring similar innovation, operational efficiency, and customer satisfaction.
