Damen e-Payment – has chosen BKN301, a fintech company that develops payment services and Banking-as-a-Service functionalities – and Cashflo, BKN301’s exclusive Egyptian partner, to fully digitize its product infrastructure, expand its offering with innovative services and improve the user experience through its technology platform. BKN301 brings its solutions to international markets with a strong focus on fast-growing markets (Africa, the Middle East and Eastern Europe), where there is high demand, very little supply and are characterized by a population with low average age, rapid demographic growth, high mobile penetration and significant literacy in payment-related technologies.
The BaaS platform developed by BKN301, through its wallet and 301XB, a product that enables cross-border transactions, will allow Damen to provide new features & solutions to its customers and facilitate transactions with key Egyptian trading partners in the GCC countries. Through the technology provided by BKN301, and once all regulatory approvals have been obtained, Damen’s customers will be able to receive money internationally from more than 100 countries (including markets that are more difficult to reach due to the lack of common systems) using over 50 currencies, while having extreme visibility over fees, processing times and transaction monitoring.