# Egypt FinTech and Online Lending Market Size, Share & Forecast, By Product Type, Customer Segment & Distribution Channel, 2026–2032 --- ## Market Overview # CHAPTER 1 - Market Overview The Egypt FinTech and Online Lending Market operates across digital payments, online consumer and SME finance, embedded credit, investment technology and financial infrastructure. The fundamental demand base widened to **54.7 million active transactional-account holders in 2025**, representing **77.6% of eligible adults**. That formalization increases addressable users for digital lenders while improving digital repayment, identity and transaction-history inputs used in underwriting. Greater Cairo remains the primary commercial and technology hub because the ecosystem is concentrated around financial institutions, venture capital, merchant networks and technology talent. Egypt had approximately **177 FinTech startups and payment-service providers** spanning **14 subsectors**, while the five largest business governorates, including Cairo and Giza, represented **46% of establishments** in the latest economic-census comparison cited by institutional research. Regulation increasingly determines entry costs and permissible monetization models. Law No. 5 of 2022 established a legal framework for technology-enabled non-bank financial services, while subsequent digital identity, contracting and outsourcing rules formalized digital origination. Separate payment-system operator and payment-service provider licensing rules were issued in **June 2025**, creating a defined authorization pathway and higher governance expectations for payment-led FinTech platforms. The market is transitioning from payment access toward monetization through credit, embedded finance and richer financial products. Consumer-finance funding expanded **57% in 2025** and reached **10.8 million beneficiaries** across **48 active licenses**. At the same time, mobile-wallet activity reached **718 million transactions in Q2 2025**, up **80% year on year**. This combination supports stronger cross-selling economics but raises credit, cyber and regulatory-control requirements. ## KPIs at a Glance * Market Value: USD 1,500 million (2025) * Dominant Region: Greater Cairo (2025) * Dominant Segment: Digital Lending & BNPL (fastest growing) * Total Number of Players: 177 ## Future Outlook The Egypt FinTech and Online Lending Market is projected to expand from USD 1,500 million in 2025 to USD 4,088 million by 2032, implying a forecast CAGR of 15.40%. This is slower than the modeled 19.14% historical CAGR during 2020–2025 as financial inclusion approaches a more mature level, but monetization per digitally active customer is expected to rise. Consumer finance, embedded lending, API-based financial distribution and SME working-capital products should contribute more revenue than basic payment access. The market's revenue trajectory is therefore expected to depend increasingly on credit quality, repeat usage and cross-sell rather than user acquisition alone. By 2031, the modeled market value reaches USD 3,543 million before increasing to USD 4,088 million in 2032. Financial inclusion could approach 90% by the terminal year under the base scenario, while active mobile-wallet counts can continue expanding through multiple-wallet ownership and merchant use. Lending platforms are expected to benefit from richer transaction histories, digital identity and automated underwriting. Downside risk is concentrated in funding costs, consumer-credit regulation and asset quality; upside depends on faster embedded-finance penetration, digital-bank launches and SME digitization. Under the model, value growth continues to materially exceed growth in the underlying formally included customer base. --- | | | | --- | --- | | **15.40%** Forecast CAGR (2025-2032) | **$4,088 Mn** 2032 Projection | --- | | | | | | --- | --- | --- | --- | | Base Year **2025** | Historical Period **2020-2025** | Forecast Period **2025-2032** | Historical CAGR **19.14%** | --- ## Scope of the Report # CHAPTER 2 - Scope of the Market * **Geographic Coverage:** Egypt * **Historical Period:** 2020-2025 * **Base Year:** 2025 * **Forecast Period:** 2025-2032 (base year inclusive) * **Market Segments Covered:** 7 primary segmentation dimensions (Product Type, Customer Segment, Distribution Channel, Institution Type, Revenue Model, Risk Category, Geography) * **Companies Covered:** Top 10 key players profiled * **Currency & Units:** USD, values expressed in USD Mn/Bn ### Segmentation Data Tree * Product Type + Digital Payments & Merchant Services - Wallet and account transfers - Merchant acquiring - Bill and service payments + Digital Lending & BNPL - Digital personal credit - Point-of-sale financing - Salary-linked lending + WealthTech & Digital Investments - Retail brokerage applications - Digital savings products - Automated investment tools + FinTech Infrastructure & RegTech - Payment orchestration - Digital identity and KYC - Risk and compliance software * Customer Segment + Mass-Market Consumers - Banked consumers - Newly included consumers - Mobile-first users + Salaried & Gig-Economy Workers - Payroll-linked employees - Platform workers - Independent professionals + Micro & Small Enterprises - Micro merchants - Small retailers - Digital-native businesses + Mid-Market & Corporate Merchants - Omnichannel retailers - Service enterprises - Large merchant groups * Distribution Channel + Mobile Applications - Standalone FinTech apps - Super-app finance modules - Digital-bank interfaces + Merchant & Marketplace Checkout - Physical POS checkout - E-commerce checkout - Marketplace financing + API & Embedded Finance - Embedded payments - Embedded credit - Banking APIs + Agent & POS Networks - Retail agents - Payment kiosks - Merchant POS terminals * Institution Type + FinTech & Digital-Lending Specialists - Independent startups - Scaled digital lenders - Multi-product FinTechs + Licensed Consumer Finance Companies - Consumer-credit specialists - BNPL providers - Retail-finance companies + Payment Service Providers - Payment facilitators - Wallet operators - Merchant acquirers + Bank-Affiliated Digital Platforms - Digital-bank propositions - Bank wallet platforms - Bank-FinTech joint propositions * Revenue Model + Transaction & Merchant Fees - Merchant discount fees - Transfer fees - Service-payment fees + Interest & Financing Income - Consumer lending income - SME financing income - BNPL financing income + Subscription & SaaS Fees - Platform subscriptions - API subscriptions - Compliance software fees + Interchange & Network Revenue - Card interchange - Network processing - Issuing economics * Risk Category + Unsecured Consumer Credit - Personal credit risk - Salary-based exposure - Behavioral-score lending + BNPL & Point-of-Sale Credit - Short-tenor installment risk - Merchant-linked risk - Repeat-purchase exposure + SME Working-Capital Credit - Inventory finance - Receivables-linked finance - Merchant cash-flow lending + Transaction & Fraud Risk - Identity fraud - Payment fraud - Account takeover risk * Geography + Greater Cairo - Cairo - Giza - New Cairo business clusters + Alexandria & North Coast - Alexandria urban market - North Coast commercial zones - Coastal merchant corridors + Delta Governorates - Dakahliya - Sharqia - Gharbia + Upper Egypt & Canal Cities - Upper Egypt governorates - Suez Canal cities - Secondary urban centers --- ## Market Trajectory # Egypt FinTech and Online Lending Market Size, Share & Forecast, By Product Type, Customer Segment & Distribution Channel, 2026–2032 **Geography:** Egypt | **Study Period:** 2021–2032 | **Base Year:** 2025 | **Forecast Period:** 2026–2032 The Egypt FinTech and Online Lending Market reached an estimated **USD 1,500 million in 2025** under a provider-revenue and platform-economics lens that excludes payment throughput, deposits, assets under management and outstanding loan principal. Demand is supported by **54.7 million active transactional-account holders and 77.6% financial inclusion at end-2025**. ## Report Metadata Summary | | | | --- | --- | | **Base Year** | 2025 | | **CAGR for Past 5 Years** | 19.14% | | **Historical Period** | 2020–2025 | | **Forecast Period** | 2025–2032, base year inclusive | | **Forecast Period CAGR** | 15.40% | # CHAPTER 3 - Market Size, Growth Forecast and Trends This section evaluates the historical market size, analyzes year-over-year growth dynamics, and presents forecast projections supported by market performance indicators and demand-side drivers. | Year | Market Size (USD Mn) | | --- | --- | | 2020 | 625 | | 2021 | 760 | | 2022 | 930 | | 2023 | 1,095 | | 2024 | 1,305 | | 2025 | 1,500 | | 2026F | 1,731 | | 2027F | 1,998 | | 2028F | 2,305 | | 2029F | 2,660 | | 2030F | 3,070 | | 2031F | 3,543 | | 2032F | 4,088 | | Year | YoY Growth Rate (%) | | --- | --- | | 2021 | 21.6% | | 2022 | 22.4% | | 2023 | 17.7% | | 2024 | 19.2% | | 2025 | 14.9% | | 2026F | 15.4% | | 2027F | 15.4% | | 2028F | 15.4% | | 2029F | 15.4% | | 2030F | 15.4% | | 2031F | 15.4% | | 2032F | 15.4% | | Year | Market Value Growth (%) | Active Digital-Finance User Growth (%) | Value Growth Premium (pp) | | --- | --- | --- | --- | | 2020 | - | - | - | | 2021 | 21.6% | 16.1% | 5.5 | | 2022 | 22.4% | 17.5% | 4.9 | | 2023 | 17.7% | 10.9% | 6.9 | | 2024 | 19.2% | 10.9% | 8.3 | | 2025 | 14.9% | 5.2% | 9.8 | | 2026F | 15.4% | 6.0% | 9.4 | | 2027F | 15.4% | 6.0% | 9.4 | | 2028F | 15.4% | 5.7% | 9.7 | | 2029F | 15.4% | 5.4% | 10.0 | | 2030F | 15.4% | 5.1% | 10.3 | | 2031F | 15.4% | 4.2% | 11.2 | | 2032F | 15.4% | 4.0% | 11.4 | ### Historical Market Performance (2020-2025) Historical growth was strongest during 2021–2022 as digital-payment behavior shifted structurally after the pandemic and regulatory support broadened formal account access. Market value growth peaked at 22.4% in 2022 before moderating to 14.9% in 2025. Financial inclusion increased from 56.2% in 2021 to 64.8% in 2022 and 77.6% by 2025, while online consumer finance and alternative lending expanded the monetizable revenue pool beyond payment processing. The period therefore combined rapid user acquisition with progressively higher credit and merchant-service monetization. ### Forecast Market Outlook (2025-2032) The modeled 15.40% CAGR assumes customer-base growth gradually normalizes while revenue per engaged user increases through lending, BNPL, merchant services, subscriptions and embedded finance. Market value reaches USD 3,070 million in 2030 and USD 4,088 million in 2032. The widening premium between value growth and user growth reflects expected product-depth gains, particularly digital credit, SME finance and API-led distribution. The model assumes no structural regulatory reversal and maintains conservative terminal financial-inclusion saturation rather than extending historical account-acquisition growth mechanically. --- ## Market Breakdown # CHAPTER 4 - Market Breakdown Egypt's digital-finance opportunity is moving from access-led expansion toward monetization, credit penetration and embedded distribution. For CEOs and investors, the critical question is increasingly how efficiently providers convert a larger formal user base into recurring, risk-adjusted revenue. | Year | Market Size (USD Mn) | YoY Growth (%) | Financial Inclusion (%) | Active Mobile Wallets (Mn) | Consumer Finance Beneficiaries (Mn) | Period | | --- | --- | --- | --- | --- | --- | --- | | 2020 | 625 | - | - | - | - | Historical | | 2021 | 760 | 21.6% | 56.2% | - | - | Historical | | 2022 | 930 | 22.4% | 64.8% | - | - | Historical | | 2023 | 1,095 | 17.7% | 70.7% | - | 3.8 | Historical | | 2024 | 1,305 | 19.2% | 74.8% | 35.8 | 3.7 | Historical | | 2025 | 1,500 | 14.9% | 77.6% | 46.3 | 10.8 | Base Year | | 2026 | 1,731 | 15.4% | 80.0% | 52.0 | 12.1 | Forecast and Latest Operating KPIs | | 2027 | 1,998 | 15.4% | 82.0% | 58.0 | 13.5 | Forecast and Industry Outlook | | 2028 | 2,305 | 15.4% | 84.0% | 64.0 | 15.0 | Forecast and Industry Outlook | | 2029 | 2,660 | 15.4% | 86.0% | 70.0 | 16.7 | Forecast and Industry Outlook | | 2030 | 3,070 | 15.4% | 87.5% | 76.0 | 18.5 | Forecast and Industry Outlook | | 2031 | 3,543 | 15.4% | 89.0% | 82.0 | 20.3 | Forecast and Industry Outlook | | 2032 | 4,088 | 15.4% | 90.0% | 88.0 | 22.2 | Forecast and Industry Outlook | **KPI 1, Financial Inclusion:** **77.6% (2025, Egypt)**. The expanding formal account base reduces customer-acquisition friction and enlarges the addressable population for digital lending, savings and payments. Active transactional-account ownership reached **54.7 million adults** at end-2025. **KPI 2, Active Mobile Wallets:** **46.3 million (Q2 2025, Egypt)**. Wallet density gives FinTech platforms a broad distribution and repayment rail. Mobile-wallet transaction count reached **718 million during Q2 2025**, an **80% year-on-year increase**. **KPI 3, Consumer Finance Beneficiaries:** **10.8 million (2025, Egypt)**. The sharp expansion in financed customers validates consumer credit as a larger FinTech profit pool. Consumer-finance funding increased **57% in 2025** across **48 active licenses**. --- --- ## Market Segmentation # CHAPTER 5 - Market Segmentation Framework Comprehensive analysis across key dimensions providing insights into market structure, consumer preferences, and distribution patterns. | | | | | --- | --- | --- | | **No of Segments:** 7 | **Dominant Segment:** Product Type | **Fastest Growing Segment:** Distribution Channel | ### Segmentation Framework | Priority | Level-1 Segment / Taxonomy Dimension | Level-2 Sub-Segments | | --- | --- | --- | | 1 | Product Type | Digital Payments & Merchant Services; Digital Lending & BNPL; WealthTech & Digital Investments; FinTech Infrastructure & RegTech | | 2 | Customer Segment | Mass-Market Consumers; Salaried & Gig-Economy Workers; Micro & Small Enterprises; Mid-Market & Corporate Merchants | | 3 | Distribution Channel | Mobile Applications; Merchant & Marketplace Checkout; API & Embedded Finance; Agent & POS Networks | | 4 | Institution Type | FinTech & Digital-Lending Specialists; Licensed Consumer Finance Companies; Payment Service Providers; Bank-Affiliated Digital Platforms | | 5 | Revenue Model | Transaction & Merchant Fees; Interest & Financing Income; Subscription & SaaS Fees; Interchange & Network Revenue | | 6 | Risk Category | Unsecured Consumer Credit; BNPL & Point-of-Sale Credit; SME Working-Capital Credit; Transaction & Fraud Risk | | 7 | Geography | Greater Cairo; Alexandria & North Coast; Delta Governorates; Upper Egypt & Canal Cities | ### Key Segmentation Takeaways Comprehensive analysis across all extracted segmentation dimensions providing insights into market structure, consumer preferences, and distribution patterns. **Product Type** - Product economics remain the primary determinant of market structure because digital payments create transaction frequency while lending generates deeper revenue per customer. Digital Lending & BNPL is gaining strategic weight as payment histories, merchant data and digital identity improve underwriting. Payment-led platforms retain an advantage because they can acquire customers through high-frequency transactions before cross-selling higher-margin finance and investment products. **Distribution Channel** - Distribution is shifting from standalone application acquisition toward API & Embedded Finance models that place payments or credit inside merchant, payroll and marketplace journeys. Embedded channels can reduce customer-acquisition costs, improve conversion and create richer behavioral data for underwriting. Merchant & Marketplace Checkout is particularly important for BNPL, while API-led infrastructure supports bank-FinTech partnerships and enterprise financial-service orchestration. --- ## Regional Analysis # CHAPTER 6 - Regional Analysis Egypt ranks below the UAE, Saudi Arabia and Türkiye by harmonized 2025 FinTech market value among the selected peer set, but its modeled growth rate is higher than those three larger markets. Its structural advantage is the combination of a large underpenetrated population, rapid account formalization and expanding non-bank credit activity. ### KPI Summary * Focus Country Ranking: **4th** * Focus Country Market Size: **USD 1.50 Bn** * Egypt CAGR (2025-2032): **15.40%** | Country | Market Size | CAGR (%) | Adult Financial Inclusion / Account Ownership (%) | FinTech Ecosystem / Policy Signal | | --- | --- | --- | --- | --- | | United Arab Emirates | USD 3.56 Bn | 12.56% | 85% | Established multi-regulator FinTech ecosystem | | Saudi Arabia | USD 2.85 Bn | 13.45% | High and digitally led | 300+ FinTechs by 2025 | | Türkiye | USD 2.22 Bn | 15.23% | 81.6% | Record USD 201.3 Mn FinTech investment in 2025 | | Egypt | USD 1.50 Bn | 15.40% | 77.6% | 177 FinTech startups and PSPs | | Bahrain | USD 1.40 Bn | 17.20% | High account ownership | Long-established regulatory sandbox ecosystem | ### Market Position Egypt ranks **4th** among the selected peers at USD 1.50 billion, but its **54.7 million active transactional-account holders** provide a substantially larger mass-market user pool than smaller GCC economies. ### Growth Advantage Egypt's modeled **15.40% CAGR** exceeds the UAE's **12.56%** and Saudi Arabia's **13.45%**, placing it among the faster-growth peer markets while remaining below Bahrain's higher but smaller-base trajectory. ### Competitive Strengths Egypt combines **77.6% financial inclusion**, **46.3 million active mobile wallets** and a **177-company FinTech/PSP ecosystem**, giving providers scale across payments, lending, merchant acquiring and embedded finance. Comprehensive analysis of key factors shaping the market, including growth catalysts, operational challenges, and emerging opportunities across production, distribution, and consumer segments. --- ## Growth Drivers # CHAPTER 7 - Growth Drivers, Challenges & Opportunities Comprehensive analysis of key factors shaping the Egypt FinTech and Online Lending Market, including growth catalysts, operational challenges, and emerging opportunities across financial-service origination, digital distribution and customer segments. ## Growth Drivers ### Expanding Formal Digital-Finance User Base Formal financial access reached **77.6% (2025, Egypt)**, widening the addressable base for mobile payments, digital credit and investment products. * Active transactional-account ownership reached **54.7 million people (2025, Egypt)**, giving digital providers a broad pool for low-cost onboarding and cross-selling. * Financial inclusion increased from **56.2% (2021, Egypt)** to **64.8% (2022, Egypt)**, demonstrating that digital and simplified account infrastructure can shift adoption rapidly. * Youth financial inclusion reached **56.8% (2025, Egypt)**, increasing the addressable population for app-native credit, savings and investment propositions with long customer lifetimes. ### Mobile-Wallet Transaction Intensity Active mobile wallets reached **46.3 million (Q2 2025, Egypt)**, making wallets a high-frequency acquisition and repayment rail for FinTech providers. * Wallet users completed **718 million transactions (Q2 2025, Egypt)**, up **80% year on year**, improving transaction-data availability and engagement frequency. * Active wallet count increased **29% year on year (Q2 2025, Egypt)**, supporting broader distribution without equivalent physical-branch expansion. * Wallet-to-wallet transfers represented **54% of transaction count (Q2 2025, Egypt)**, indicating recurring peer-transfer behavior that can anchor broader digital-finance ecosystems. ### Rapid Consumer-Finance Formalization Consumer-finance funding expanded **57% (2025, Egypt)**, positioning digital credit as a major monetization layer above payments and wallet access. * Consumer-finance providers served **10.8 million beneficiaries (2025, Egypt)**, creating substantial scale for automated underwriting, collections and merchant-linked finance. * The licensed consumer-finance universe reached **48 active licenses (2025, Egypt)**, supporting product diversity while intensifying competition for high-quality borrowers. * Payments and remittances represented **36% of FinTech firms** and lending and financing **11%** in the institutional ecosystem classification, leaving room for credit penetration to deepen. --- ## Market Challenges ### High Funding Costs and Credit Pricing Pressure Policy rates remained elevated at **24% deposit and 25% lending (May 2025, Egypt)**, increasing funding and affordability pressure for credit-led FinTech models. * A prior **600-basis-point rate increase (March 2024, Egypt)** raised debt-service and refinancing costs, forcing digital lenders to place greater emphasis on risk-adjusted pricing and collections. * Non-bank portfolios reached approximately **USD 8.3 billion equivalent (2025, Egypt)**, increasing the absolute exposure of lenders to funding-market and asset-quality cycles. * Sector default rates remained below **3% (2025, Egypt)**, but maintaining that performance through rapid digital-credit scaling requires stronger affordability models and early-warning analytics. ### Licensing and Compliance Barriers Traditional new-license applications in selected financing activities faced a **one-year suspension extension in October 2025**, raising the value of compliant technology-led entry paths. * Payment-system and payment-service licensing rules issued in **June 2025** formalized governance, registration and authorization requirements that increase compliance investment for payment-led entrants. * Technology-enabled non-bank finance operates under Law No. 5 of **2022** and multiple subsequent implementation decisions, making regulatory architecture a core product-design constraint. * The existence of **48 active consumer-finance licenses (2025, Egypt)** indicates material competition for licenses, merchant relationships and compliant digital-credit distribution. ### Cybersecurity, Fraud and Data-Control Exposure A base of **46.3 million active mobile wallets (Q2 2025, Egypt)** expands both digital opportunity and the potential attack surface for fraud and account compromise. * Wallet transaction volumes grew **80% year on year (Q2 2025, Egypt)**, increasing the operational requirement for real-time fraud detection, transaction monitoring and consumer-protection controls. * Payment-provider governance and internal-control regulations were strengthened in **August 2025**, making cybersecurity and control frameworks increasingly important components of licensing readiness. * Wallet transfers represented **71% of mobile-wallet transaction value (Q2 2025, Egypt)**, concentrating fraud-monitoring requirements around peer-transfer activity and identity assurance. --- ## Market Opportunities ### Embedded Credit Across Merchant Networks Fawry alone served **53.1 million customers (2024, Egypt)**, showing the potential scale available when lending is layered onto established payment and merchant networks. * A network of **372,400 Fawry POS terminals (2024, Egypt)** creates distribution infrastructure through which financing can be integrated at purchase rather than acquired through a standalone lending journey. * AMAN operated more than **250,000 POS systems (2024, Egypt)**, demonstrating that payment and retail networks can support scalable embedded-credit economics for providers and merchants. * Mobile wallets reached **46.3 million active accounts (Q2 2025, Egypt)**; deeper wallet-linked credit requires stronger consent, underwriting and affordability controls to convert payments into sustainable lending revenue. ### Digital SME Working-Capital Finance FinTech companies captured **49.5% of Egypt's startup venture investment in 2022**, indicating sustained investor appetite for scalable digital-finance solutions serving underserved businesses. * SME and microenterprise financing expanded **24% in 2025**, supporting a larger addressable pool for cash-flow underwriting, inventory finance and digitally serviced working capital. * Egypt's FinTech ecosystem grew from **32 firms in 2017 to 177 by 2022** in the institutional dataset, increasing the supply of specialized B2B and financing capabilities. * A FinTech startup received approval to establish the first technology-led SME financing model under the new framework in **2024**, demonstrating an emerging regulatory route for digital working-capital specialists. ### Digital-Bank and Financial-Infrastructure Expansion Egypt's ecosystem spans **14 FinTech subsectors (2025, Egypt)**, providing room for infrastructure, banking-as-a-service and compliance platforms beyond consumer-facing applications. * The number of FinTech startups and PSPs expanded approximately **5.5 times over five years**, increasing demand for payment orchestration, identity, risk, data and compliance infrastructure. * New PSO and PSP licensing rules issued in **June 2025** create a clearer institutional route for infrastructure providers that can satisfy capital, governance and operational requirements. * Financial inclusion reached **77.6% in 2025**; the next monetization phase requires deeper product usage rather than account opening alone, favoring providers that enable lending, savings, wealth and embedded finance. --- --- ## Competitive Landscape # CHAPTER 8 - Competitive Landscape Overview Competition combines scaled payment networks, diversified non-bank finance groups and venture-backed digital specialists. Entry barriers increasingly arise from licensing, funding access, merchant distribution, underwriting data, cybersecurity and the economics of acquiring repeat digital-finance customers. * **Key players:** 10 * **New Entrants (last 5 yrs):** - ### Company Profiles (Top 10 Players) | Company Name | Market Share | Headquarters | Founding Year | Core Market Focus | | --- | --- | --- | --- | --- | | Fawry | - | Cairo, Egypt | 2008 | Digital payments, merchant acquiring, consumer and MSME financial services | | MNT-Halan | - | Cairo, Egypt | 2017 | Digital consumer credit, microfinance, payments and merchant finance | | Valu | - | Cairo, Egypt | 2017 | Consumer finance, BNPL and digital lifestyle financing | | AMAN Holding | - | Cairo, Egypt | - | Consumer finance, microfinance, payments and merchant distribution | | Paymob | - | Cairo, Egypt | 2015 | Merchant acquiring, payment gateway and omnichannel payment infrastructure | | Contact Financial Holding | - | Cairo, Egypt | 2001 | Consumer finance, digital credit, leasing, factoring and payment services | | Khazna | - | Egypt | - | Financial super-app services for underserved consumers and employees | | eFinance Investment Group | - | Cairo, Egypt | 2005 | Digital payments infrastructure, transaction processing and financial technology | | Thndr | - | Cairo, Egypt | - | Digital investing, brokerage and retail wealth technology | | Money Fellows | - | New Cairo, Egypt | 2018 | Digital savings circles, payments and app-based financial services | The report provides detailed cross-comparison of key players across 4 performance parameters to identify competitive strengths and weaknesses. ### Top 4 Cross-Comparison KPIs * Active Digital Customers * Annual Monetized Volume * Revenue Growth * EBITDA Margin ### Analysis Covered * **Market Share Analysis:** Benchmarks provider scale across payments, credit and digital-finance revenue pools. * **Cross Comparison Matrix:** Compares customer reach, monetized volume, growth and profitability performance indicators. * **SWOT Analysis:** Assesses distribution strengths, funding constraints, regulation and product-expansion vulnerabilities. * **Pricing Strategy Analysis:** Compares transaction fees, financing economics and merchant monetization approaches systematically. * **Company Profiles:** Reviews business models, market focus, customer reach and strategic positioning. --- --- ## Key Stakeholders # CHAPTER 10 - Key Target Audience Key stakeholders who can leverage from this market analysis for investment, strategy, and operational planning. * **Investors:** CAGR, credit quality, funding costs, monetization, exit potential * **Corporates:** merchant fees, embedded finance, conversion, settlement, customer retention * **Government:** financial inclusion, licensing, consumer protection, cybersecurity, SME finance * **Operators:** CAC, underwriting, collections, wallet activity, merchant network productivity * **Financial institutions:** partnerships, digital origination, risk models, APIs, portfolio quality ### What You'll Gain * Market sizing and trajectory * Policy and licensing mapping * Digital-credit demand indicators * Segment structure and levers * Competitive landscape shortlist * CEO-grade risk priorities --- --- ## Research Methodology # CHAPTER 11 - Research Methodology ### Phase 1: Approach #### Desk Research * Digital-finance regulatory framework mapping * Consumer-finance activity trend assessment * Payment ecosystem transaction benchmarking * FinTech provider revenue mapping #### Primary Research * FinTech chief executive interviews * Consumer-finance risk officer interviews * Payment product manager interviews * Merchant acquisition director interviews #### Validation and Triangulation * 248 respondent evidence validation * Provider revenue reconciliation checks * Customer adoption cross-validation * Credit-flow boundary sanity checks ### Phase 2: Market Size Estimation #### Top-Down Assessment * Financially included adult population and digital-service penetration * Payments, consumer finance, SME finance and investment-service allocation * Regulated non-bank finance and payment-system operating indicators #### Bottom-Up Modeling * Provider-level customer, transaction and financing-volume benchmarks * Merchant fees, financing yields and platform monetization indicators * Customer volume multiplied by annual revenue-equivalent unit economics #### Forecasting and Scenario Analysis * Financial inclusion, wallet activity and consumer-finance growth variables * Funding costs, licensing intensity and embedded-finance adoption scenarios * Baseline, optimistic, and constrained projections through 2032 ### Phase 3: Primary Research Coverage #### Scope Item / Segments Coverage spans the Egypt FinTech and Online Lending Market from regulated infrastructure and capital provision through digital origination, merchant distribution and end-customer usage. * Digital Payments and Merchant Services * Digital Consumer Finance and BNPL * SME Digital Lending * FinTech Infrastructure and Embedded Finance #### Sample Size A total cross-segment respondent base was structured to test market sizing, operating economics, demand behavior and risk assumptions. * Digital Payments and Merchant Services - 68 respondents (Payments Product Director, Merchant Acquisition Manager) * Digital Consumer Finance and BNPL - 64 respondents (Chief Risk Officer, Consumer Finance Product Head) * SME Digital Lending - 58 respondents (SME Lending Director, Credit Risk Manager) * FinTech Infrastructure and Embedded Finance - 58 respondents (API Product Lead, Financial Technology Director) #### Validation and Triangulation Validation reconciled provider economics, customer usage and regulatory activity across the market's payment, lending and infrastructure value chain. * Provider revenue versus user-scale consistency testing * Payment-to-credit value-chain reconciliation * Operational versus executive respondent cross-checks * Loan-principal and payment-throughput double-count prevention --- ## Frequently Asked Questions # CHAPTER 12 - FAQs #### Q: How large is the Egypt FinTech and Online Lending Market in 2025? **A:** The Egypt FinTech and Online Lending Market was valued at USD 1,500 million in 2025 under a provider-revenue and platform-economics definition. The sizing includes digital payments and merchant monetization, digitally originated consumer and SME finance economics, WealthTech and FinTech infrastructure. It excludes payment throughput, customer deposits, assets under management and outstanding loan principal to prevent double counting. The estimate is triangulated against provider activity, 54.7 million active transactional-account holders, 46.3 million active mobile wallets and regulated consumer-finance activity. **Data used:** USD 1,500 million market value (2025); 54.7 million active transactional-account holders (2025). **So what:** Investors should benchmark companies on revenue-equivalent monetization rather than gross transaction or loan-disbursement values. #### Q: What is the expected growth rate of Egypt's FinTech and online lending sector through 2032? **A:** The market is projected to reach USD 4,088 million by 2032, representing a 15.40% CAGR from the 2025 base. The forecast assumes formal account penetration continues increasing but at a slower pace as inclusion matures, while monetization per active digital customer improves through lending, BNPL, merchant services, embedded finance and investment products. The modeled growth rate is below the historical 19.14% CAGR because account acquisition is expected to normalize, making product depth and revenue per customer increasingly important. **Data used:** USD 4,088 million forecast value (2032); 15.40% CAGR (2025-2032). **So what:** Strategy should prioritize monetization depth and risk-adjusted cross-selling rather than relying on continued historical user-growth rates. #### Q: Where is the market's profit pool shifting? **A:** The profit pool is shifting from basic transaction access toward digital credit, merchant finance, BNPL, API-led embedded finance and recurring infrastructure fees. Payments remain strategically important because they generate frequent customer interactions and transaction histories, but credit products can produce materially higher revenue per engaged user. Consumer-finance beneficiaries reached 10.8 million in 2025 and funding expanded 57%, while merchant networks provide distribution at checkout. Platforms with both payment data and regulated financing capabilities are therefore positioned to capture a larger share of customer lifetime value. **Data used:** 10.8 million consumer-finance beneficiaries (2025); 57% consumer-finance funding growth (2025). **So what:** Payment-led firms should evaluate regulated lending partnerships or embedded-credit models where underwriting economics remain attractive. #### Q: What is the biggest risk for online lenders in Egypt? **A:** The principal economic risk is the interaction between high funding costs, rapid credit growth and borrower affordability. Policy rates remained elevated during 2025 even after easing began, while consumer-finance activity expanded rapidly. Faster origination can create adverse-selection and collection risk if underwriting standards do not evolve with scale. Regulatory requirements are also tightening across licensing, governance, digital identity and consumer protection. The most defensible operators will therefore combine diversified funding, behavioral underwriting, early-warning collections and disciplined merchant or payroll distribution. **Data used:** 24% deposit and 25% lending policy rates (May 2025); below 3% non-bank portfolio default rate (2025). **So what:** Investors should prioritize loss-adjusted yield, funding duration and collections performance over headline disbursement growth. #### Q: How does Egypt compare with other regional FinTech markets? **A:** Egypt is smaller by modeled 2025 market value than the UAE, Saudi Arabia and Türkiye within the selected peer set, but its 15.40% forecast CAGR is higher than the 12.56% UAE and 13.45% Saudi benchmarks and slightly above Türkiye's reported 15.23% outlook. Egypt's differentiation is scale of potential users: 54.7 million adults already hold active transactional accounts, while financial inclusion reached 77.6%. This creates a mass-market growth opportunity that differs from the higher-income but smaller-population GCC model. **Data used:** 15.40% Egypt CAGR (2025-2032); 77.6% financial inclusion (2025). **So what:** Regional entrants should treat Egypt as a volume-and-monetization market rather than replicate GCC premium-customer economics directly. #### Q: Which demand driver matters most for the next stage of FinTech growth? **A:** The most important structural driver is deeper usage by formally included customers rather than account ownership alone. Egypt had 54.7 million active transactional-account holders at end-2025 and 46.3 million active mobile wallets by Q2 2025. Wallet transaction count increased 80% year on year, demonstrating high engagement growth. These digital footprints can lower onboarding friction and improve underwriting inputs for lending, merchant finance and embedded financial products, provided operators obtain appropriate consent and meet regulatory requirements for data and risk controls. **Data used:** 54.7 million active transactional-account holders (2025); 80% mobile-wallet transaction growth (Q2 2025). **So what:** Competitive advantage will increasingly come from converting transaction frequency into compliant, personalized and repeat financial-product usage. #### Q: Which segments offer the strongest investment opportunity? **A:** Digital Lending & BNPL, SME digital finance and API-based embedded finance offer the strongest combination of unmet demand and monetization upside. Lending benefits from growing transaction histories and formalization, while SMEs remain structurally underserved by conventional credit processes. Embedded finance can reduce acquisition costs by integrating financial products directly into merchant, payroll and marketplace workflows. The investment case is strongest where platforms combine a defensible distribution channel, regulatory permissions, proprietary transaction data and disciplined credit-risk management rather than competing only on app experience or promotional pricing. **Data used:** 177 FinTech startups and PSPs (2025 ecosystem reference); 49.5% share of startup venture investment captured by FinTech firms in 2022. **So what:** Capital allocation should favor platforms with regulated monetization pathways and proprietary distribution rather than undifferentiated standalone lending applications. --- ## Table of Contents # CHAPTER 14 - Table of Contents ### Market Report Structure Comprehensive coverage across three strategic phases - Market Assessment, Go-To-Market Strategy, and Survey - delivering end-to-end insights from market analysis and execution roadmap to customer demand validation. ## Market Assessment Phase Supply-side and competitive intelligence covering market sizing, segmentation, competitive dynamics, regulatory landscape, and future forecasts. ### 1. Executive Summary and Approach ### 2. Egypt FinTech and Online Lending Market Overview #### 2.1 Key Insights and Strategic Recommendations #### 2.2 Egypt FinTech and Online Lending Market Overview #### 2.3 Definition and Scope #### 2.4 Evolution of Market Ecosystem #### 2.5 Timeline of Key Regulatory Milestones #### 2.6 Value Chain and Stakeholder Mapping #### 2.7 Business Cycle Analysis #### 2.8 Policy and Incentive Landscape ### 3. Egypt FinTech and Online Lending Market Analysis #### 3.1 Growth Drivers ##### 3.1.1 Expanding Formal Digital-Finance User Base ##### 3.1.2 Mobile-Wallet Transaction Intensity ##### 3.1.3 Rapid Consumer-Finance Formalization #### 3.2 Market Challenges ##### 3.2.1 High Funding Costs and Credit Pricing Pressure ##### 3.2.2 Licensing and Compliance Barriers ##### 3.2.3 Cybersecurity, Fraud and Data-Control Exposure #### 3.3 Market Opportunities ##### 3.3.1 Embedded Credit Across Merchant Networks ##### 3.3.2 Digital SME Working-Capital Finance ##### 3.3.3 Digital-Bank and Financial-Infrastructure Expansion #### 3.4 Market Trends ##### 3.4.1 Shift from Payments Toward Credit Monetization ##### 3.4.2 Expansion of API and Embedded Finance ##### 3.4.3 Alternative-Data Underwriting Adoption ##### 3.4.4 Digital-Bank and Super-App Convergence #### 3.5 Government Regulation ##### 3.5.1 FinTech Law No. 5 of 2022 ##### 3.5.2 PSO and PSP Licensing Framework ##### 3.5.3 Regulatory Sandbox and Digital Authorization ##### 3.5.4 Consumer-Finance Licensing Controls ### 4. SWOT Analysis ### 5. Stakeholder Analysis ### 6. Porter's Five Forces Analysis ### 7. Egypt FinTech and Online Lending Market Size #### 7.1 By Value #### 7.2 By Active Digital-Finance Users #### 7.3 By Revenue per Engaged User ### 8. Egypt FinTech and Online Lending Market Segmentation #### 8.1 Product Type ##### 8.1.1 Digital Payments & Merchant Services ##### 8.1.2 Digital Lending & BNPL ##### 8.1.3 WealthTech & Digital Investments ##### 8.1.4 FinTech Infrastructure & RegTech #### 8.2 Customer Segment ##### 8.2.1 Mass-Market Consumers ##### 8.2.2 Salaried & Gig-Economy Workers ##### 8.2.3 Micro & Small Enterprises ##### 8.2.4 Mid-Market & Corporate Merchants #### 8.3 Distribution Channel ##### 8.3.1 Mobile Applications ##### 8.3.2 Merchant & Marketplace Checkout ##### 8.3.3 API & Embedded Finance ##### 8.3.4 Agent & POS Networks #### 8.4 Institution Type ##### 8.4.1 FinTech & Digital-Lending Specialists ##### 8.4.2 Licensed Consumer Finance Companies ##### 8.4.3 Payment Service Providers ##### 8.4.4 Bank-Affiliated Digital Platforms #### 8.5 Revenue Model ##### 8.5.1 Transaction & Merchant Fees ##### 8.5.2 Interest & Financing Income ##### 8.5.3 Subscription & SaaS Fees ##### 8.5.4 Interchange & Network Revenue #### 8.6 Risk Category ##### 8.6.1 Unsecured Consumer Credit ##### 8.6.2 BNPL & Point-of-Sale Credit ##### 8.6.3 SME Working-Capital Credit ##### 8.6.4 Transaction & Fraud Risk #### 8.7 Geography ##### 8.7.1 Greater Cairo ##### 8.7.2 Alexandria & North Coast ##### 8.7.3 Delta Governorates ##### 8.7.4 Upper Egypt & Canal Cities ### 9. Egypt FinTech and Online Lending Market Competitive Analysis #### 9.1 Market Share of Key Players (Micro, Small, Medium, Large Enterprises) #### 9.2 Cross Comparison of Key Players ##### 9.2.1 Company Name ##### 9.2.2 Group Size (Large, Medium, or Small as per industry convention) ##### 9.2.3 Active Digital Customers ##### 9.2.4 Annual Monetized Volume ##### 9.2.5 Revenue Growth ##### 9.2.6 EBITDA Margin #### 9.3 SWOT Analysis of Top Players #### 9.4 Pricing Analysis #### 9.5 Detailed Profile of Major Companies ##### 9.5.1 Fawry ##### 9.5.2 MNT-Halan ##### 9.5.3 Valu ##### 9.5.4 AMAN Holding ##### 9.5.5 Paymob ##### 9.5.6 Contact Financial Holding ##### 9.5.7 Khazna ##### 9.5.8 eFinance Investment Group ##### 9.5.9 Thndr ##### 9.5.10 Money Fellows ### 10. Egypt FinTech and Online Lending Market End-User Analysis #### 10.1 Procurement Behavior of Key End-Users ##### 10.1.1 Consumer App Selection Criteria ##### 10.1.2 Merchant Payment Acceptance Decisions ##### 10.1.3 SME Digital-Credit Selection ##### 10.1.4 Corporate Embedded-Finance Procurement #### 10.2 Corporate Spend Patterns ##### 10.2.1 Payment Processing Expenditure ##### 10.2.2 Credit and Financing Costs ##### 10.2.3 API and Software Spending ##### 10.2.4 Fraud and Compliance Investment #### 10.3 Pain Point Analysis by End-User Category ##### 10.3.1 Consumer Affordability and Approval Friction ##### 10.3.2 Merchant Settlement and Fee Pressure ##### 10.3.3 SME Documentation and Credit Access ##### 10.3.4 Enterprise Integration and Compliance Complexity #### 10.4 User Readiness for Adoption ##### 10.4.1 Mobile-Wallet Engagement ##### 10.4.2 Digital-Lending Readiness ##### 10.4.3 Embedded-Finance Acceptance ##### 10.4.4 Digital-Investment Adoption #### 10.5 Post-Deployment ROI and Use Case Expansion ##### 10.5.1 Lower Customer-Acquisition Costs ##### 10.5.2 Higher Checkout Conversion ##### 10.5.3 Cross-Sell Revenue Expansion ##### 10.5.4 Automated Underwriting Efficiency ### 11. Egypt FinTech and Online Lending Market Future Size #### 11.1 By Value #### 11.2 By Active Digital-Finance Users #### 11.3 By Revenue per Engaged User ## Go-To-Market Strategy Phase Entry strategy evaluation, execution roadmap, partner recommendations, and profitability outlook. ### 1. Whitespace Analysis and Business Model Canvas #### 1.1 Underserved Digital-Credit Cohorts #### 1.2 SME Working-Capital Whitespace #### 1.3 Embedded-Finance Partnership Gaps #### 1.4 Regional Customer-Access Gaps ### 2. Marketing and Positioning Recommendations #### 2.1 Trust-Led Consumer Positioning #### 2.2 Merchant Economics Messaging #### 2.3 SME Cash-Flow Value Proposition #### 2.4 Financial-Inclusion Positioning ### 3. Distribution Plan #### 3.1 Mobile-App Acquisition #### 3.2 Merchant Checkout Integration #### 3.3 API Partnership Distribution #### 3.4 Agent and POS Expansion ### 4. Channel and Pricing Gaps #### 4.1 Merchant Fee Optimization #### 4.2 Credit Pricing Architecture #### 4.3 Embedded-Finance Revenue Sharing #### 4.4 Subscription and API Pricing ### 5. Unmet Demand and Latent Needs #### 5.1 Underbanked Consumer Credit #### 5.2 Gig-Worker Financial Products #### 5.3 SME Inventory Finance #### 5.4 Secondary-City Digital Access ### 6. Customer Relationship #### 6.1 Digital Onboarding #### 6.2 Repeat Borrower Retention #### 6.3 Merchant Lifecycle Management #### 6.4 Collections and Customer Support ### 7. Value Proposition #### 7.1 Faster Digital Approval #### 7.2 Lower Transaction Friction #### 7.3 Embedded Credit Convenience #### 7.4 Data-Driven Personalization ### 8. Key Activities #### 8.1 Regulatory Authorization #### 8.2 Underwriting Model Development #### 8.3 Merchant Network Acquisition #### 8.4 Fraud-Control Optimization ### 9. Entry Strategy Evaluation #### 9.1 Domestic Market Entry Strategy ##### 9.1.1 Licensed Entity Setup ##### 9.1.2 Regulated Partnership Entry ##### 9.1.3 Merchant-Led Distribution ##### 9.1.4 Embedded-Finance Integration #### 9.2 Export Entry Strategy ##### 9.2.1 GCC Market Prioritization ##### 9.2.2 Technology Export Model ##### 9.2.3 Cross-Border Merchant Services ##### 9.2.4 Regional Licensing Partnerships ### 10. Entry Mode Assessment #### 10.1 Standalone Licensed Operation #### 10.2 Bank Partnership #### 10.3 Consumer-Finance Joint Venture #### 10.4 API Infrastructure Provider ### 11. Capital and Timeline Estimation #### 11.1 Regulatory Capital Requirements #### 11.2 Technology Investment #### 11.3 Credit Funding Requirements #### 11.4 Customer-Acquisition Investment ### 12. Control vs Risk Trade-Off #### 12.1 Licensing Control #### 12.2 Credit Risk Ownership #### 12.3 Data-Control Requirements #### 12.4 Partner Dependency ### 13. Profitability Outlook #### 13.1 Customer-Acquisition Economics #### 13.2 Risk-Adjusted Lending Margin #### 13.3 Merchant Monetization #### 13.4 Operating Leverage ### 14. Potential Partner List #### 14.1 Banks and Digital Banks #### 14.2 Consumer-Finance Companies #### 14.3 Merchant Networks #### 14.4 Payment Infrastructure Providers ### 15. Execution Roadmap #### 15.1 Phased Plan for Market Entry ##### 15.1.1 Market Setup ##### 15.1.2 Market Entry ##### 15.1.3 Growth Acceleration ##### 15.1.4 Scale and Stabilize #### 15.2 Key Activities and Milestones ##### 15.2.1 Licensing and Governance Readiness ##### 15.2.2 Technology and Risk Integration ##### 15.2.3 Merchant and Customer Acquisition ##### 15.2.4 Portfolio and Unit-Economics Optimization ## Survey Phase Demand-side primary research conducted through structured interviews and online surveys with end users across priority metros and Tier 2/3 cities to capture consumption behavior, unmet needs, and purchase drivers. ### 1. Research Design and Sample Architecture #### 1.1 Research Objectives and Scope #### 1.2 Sample Size Rationale and Representation #### 1.3 Customer Cohort Definitions #### 1.4 Geographic Coverage - Priority Metros and Tier 2/3 Cities ### 2. Data Collection Methodology #### 2.1 Structured Interview Framework (50 In-Depth Interviews) ##### 2.1.1 Interview Guide and Question Design ##### 2.1.2 Respondent Recruitment and Screening Criteria ##### 2.1.3 Interview Execution and Quality Control ##### 2.1.4 Qualitative Coding and Insight Extraction #### 2.2 Online Survey Design (200 Structured Surveys) ##### 2.2.1 Survey Instrument and Attribute Coverage ##### 2.2.2 Platform Selection and Distribution Channels ##### 2.2.3 Response Validation and Data Cleaning ##### 2.2.4 Statistical Significance and Margin of Error ### 3. Customer Cohort Profiles #### 3.1 Cohort 1 - Large Enterprise End Users ##### 3.1.1 Cohort Definition and Size ##### 3.1.2 Key Demand Attributes ##### 3.1.3 Purchase Decision Drivers ##### 3.1.4 Represented Sample Size and Metro Distribution #### 3.2 Cohort 2 - Mid-Size Enterprise End Users ##### 3.2.1 Cohort Definition and Size ##### 3.2.2 Key Demand Attributes ##### 3.2.3 Purchase Decision Drivers ##### 3.2.4 Represented Sample Size and City Distribution #### 3.3 Cohort 3 - Small and Emerging Enterprise End Users ##### 3.3.1 Cohort Definition and Size ##### 3.3.2 Key Demand Attributes ##### 3.3.3 Purchase Decision Drivers ##### 3.3.4 Represented Sample Size and Tier 2/3 City Distribution #### 3.4 Cohort 4 - Institutional and Government End Users ##### 3.4.1 Cohort Definition and Size ##### 3.4.2 Key Demand Attributes ##### 3.4.3 Procurement and Compliance Drivers ##### 3.4.4 Represented Sample Size and Regional Distribution ### 4. Demand Attributes Analysis #### 4.1 Macroeconomic and Sectoral Growth Influences on Demand ##### 4.1.1 Income and Consumer-Credit Linkages ##### 4.1.2 Financial Inclusion and Digital Infrastructure Impact ##### 4.1.3 Funding Cycles and Credit Timing ##### 4.1.4 Cross-Border Finance Dependency #### 4.2 End-User Behavior and Consumption Patterns ##### 4.2.1 Frequency and Value of Digital Transactions ##### 4.2.2 Credit Repayment and Repeat-Borrowing Patterns ##### 4.2.3 Platform Loyalty vs. Price Sensitivity Trade-Off ##### 4.2.4 Switching Triggers and Retention Factors #### 4.3 Pricing Perception and Value Assessment ##### 4.3.1 Willingness to Pay Across Cohorts ##### 4.3.2 Financing Cost Benchmarking ##### 4.3.3 Merchant Fee Sensitivity ##### 4.3.4 Total Financial Cost Perception #### 4.4 Quality, Safety, and Compliance Expectations ##### 4.4.1 Digital Identity and KYC Expectations ##### 4.4.2 Consumer-Protection Awareness ##### 4.4.3 Data Privacy and Security Expectations ##### 4.4.4 Customer Support Expectations #### 4.5 Cultural, Regional, and Contextual Demand Factors ##### 4.5.1 Greater Cairo Demand Concentration ##### 4.5.2 Cash Usage and Trust Factors ##### 4.5.3 Peer Influence and Merchant Acceptance ##### 4.5.4 Digital Adoption and App Readiness #### 4.6 Marketing, Awareness, and Channel Influence ##### 4.6.1 Merchant Promotion Influence ##### 4.6.2 Role of Digital Marketing ##### 4.6.3 POS and Agent Network Influence ##### 4.6.4 Bank and FinTech Partnership Impact ### 5. Unmet Needs and Latent Demand Signals #### 5.1 Identified Gaps Between Current Supply and User Expectations #### 5.2 Latent Demand in Underpenetrated Credit Segments #### 5.3 Willingness to Adopt Embedded Financial Products #### 5.4 Pain Points Surfaced Across Cohorts ### 6. Key Findings and Strategic Implications #### 6.1 Top Demand Drivers Ranked by Cohort #### 6.2 Barriers to Purchase and Adoption #### 6.3 High-Priority Customer Segments for Market Entry #### 6.4 Recommendations for Product, Pricing, and Channel Strategy ### Disclaimer ### Contact Us