AMAN

What AMAN does

AMAN for E-Payments is an Egyptian fintech company and wholly-owned subsidiary of Raya Holding, one of the largest economic groups in the Middle East and Africa region (EGX-listed since 2005, ~7,500 employees across offices in Nigeria, Poland, Saudi Arabia, and the UAE). Founded in November 2016 and headquartered in 6th October City, Egypt, AMAN operates an electronic payment platform built around three core products: a merchant POS acceptance network, bill payment services, and mobile recharge for Vodafone, Orange, and Etisalat. The technology stack combines physical POS terminal hardware deployed at retail merchant locations with electronic bill presentment and recharge infrastructure, accessed by consumers through a nationwide agent and merchant network; the company describes itself as Egypt's fastest-growing e-payment acceptance network with a stated target of adding 70,000 retailers.

AMAN's business model is transaction-fee based, generating revenue from per-transaction fees on POS-processed payments and commissions on bill payment and mobile recharge flows. Go-to-market is sales-led, with a dedicated direct sales team onboarding merchants (call center: 16374) and consumer support via a separate call center (19910). The company serves three primary customer segments: retail merchants and SMEs requiring electronic payment acceptance, unbanked and underbanked Egyptians (86% of the adult population) seeking basic financial services without a bank account, and telecommunications operators extending bill collection and prepaid distribution reach.

FY2025 fintech segment revenue reached EGP 9.6 billion (49% YoY growth) within Raya Holding's EGP 63.8 billion consolidated top line, supported by capital injections including ~$32.7M raised across two 2025 funding rounds, an earlier 2023 round of ~$14.6M, and an EGP 300M MSMEDA SME-finance facility signed in March 2026. Strategic partnerships span all three major Egyptian telecom operators, the MSMEDA government agency, FutureTECH by Raya, AUC Venture Lab, and LaunchPad Expo, positioning AMAN as the default electronic payment distribution layer for both banked and unbanked transactions in Egypt.

Name

AMAN

Legal name

AMAN for E-Payments

Website

https://epayments.aman.eg

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

AMAN for E-Payments is an Egyptian fintech subsidiary of Raya Holding that operates Egypt's fastest-growing POS acceptance network, offering merchants electronic payment acceptance and consumers nationwide bill payment and mobile recharge services for Vodafone, Orange, and Etisalat, targeting financial inclusion for the country's 86% unbanked adult population.

Ownership category

akta.pro rank

Product category

Electronic Payment Services

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (51821)

SIC

Finance Services (6199)

akta.pro primary industry

POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)

akta.pro secondary industries

Payment Initiation & Account-to-Account (A2A) Payments (PIS, RTP initiation) (FSAGACAI), Account Verification & Ownership (AVS/AOV, micro-deposits, auth) (FSAGACAB)

Keywords

• Electronic payment processing
• POS terminal network
• Mobile recharge services
• Bill payment services
• Financial inclusion fintech

Headquarters

HQ city

October 6

HQ country

Egypt

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Fintech Transaction Fees: AMAN generates revenue through transaction fees on electronic payments processed via its POS terminal network. The fintech operations grew 49% to reach EGP 9.6 billion in revenue for Raya Holding's fiscal year 2025.
2. Bill Payment and Mobile Recharge Commissions: AMAN earns commissions on bill payments and mobile recharge services facilitated through its network of merchants and agents across Egypt.
3. Merchant POS Services: Revenue is generated from merchants by providing POS terminal hardware and transaction processing services, with the network described as the fastest-growing in Egypt.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

AMAN is an Egyptian fintech company that operates an electronic payment platform providing POS terminal acceptance services to merchants, bill payment services for telecom and utility providers, and mobile recharge services across a nationwide agent and merchant network. The company targets financial inclusion for Egypt's unbanked population, enabling cashless transactions through its deployed POS infrastructure and integration with major telecom operators.

Product overview

AMAN for E-Payments is a fintech company and subsidiary of Raya Holding operating as a unified e-payment platform in Egypt. The core offering combines bill payment services, mobile recharge (for Vodafone, Orange, and Etisalat networks), and a merchant POS acceptance network. The company targets financial inclusion for Egypt's unbanked population (approximately 86% of adults without banking access) with convenient, accessible electronic payment solutions. The product portfolio centers on a merchant network that provides POS terminals to retailers, enabling consumers to pay bills, recharge phones, and conduct electronic transactions at convenient locations nationwide.

Differentiator

Problem solved

Functional benefit

Products and services

• AMAN for E-Payments A unified electronic payment platform operated by Raya Holding's fintech subsidiary in Egypt, providing POS-based payment acceptance, bill payment, and mobile recharge services to merchants and consumers.
• Bill Payment Service Enables customers to pay utility bills, telecommunications bills, and other recurring payments through AMAN's nationwide merchant and agent network across Egypt.
• Mobile Recharge Service Allows customers to recharge mobile phone credit for Vodafone Egypt, Orange Egypt, and Etisalat Egypt at AMAN merchant locations across Egypt.
• Merchant POS Network Deployment of POS terminals and electronic acceptance infrastructure to retail merchants across Egypt, positioned as the fastest-growing e-payment acceptance network with a target of 70,000 retailers.
• Mobile Payment and E-Wallet Technology-enabled mobile payment solutions and electronic wallet services targeting both banked and unbanked Egyptians in support of a cashless society.

Quantifiable outcome

• 49% year-on-year revenue growth to EGP 9.6 billion in FY2025

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• FutureTECH by RayacoreStrategic or Co-development Partner · 17 June 2026FutureTECH by Raya, AMAN Holding, and AUC Venture Lab partnered to accelerate startup growth across technology, fintech, retail, consumer services, and supply chain sectors in Egypt. The initiative provides participating startups with mentorship, technical guidance, investment readiness support, and potential collaboration pathways with Raya's portfolio companies. The goal is to build a pipeline of investment-ready startups by integrating academic expertise with real business opportunities.
• AUC Venture LabcoreStrategic or Co-development Partner · 17 June 2026AUC Venture Lab, Egypt's leading university-affiliated startup accelerator, partnered with AMAN Holding and FutureTECH by Raya to accelerate startup growth across multiple verticals. The partnership integrates academic expertise with market opportunities, providing mentorship, investment readiness support, and collaboration pathways with Raya's portfolio companies.
• The Strategic Co.minorGTM or Marketing Partner · 15 May 2026AMAN Holding served as Official Financial Partner for LaunchPad Expo's second edition held at The GrEEK Campus in Cairo, May 15–16, 2026. The event brought together over 3,000 registered attendees, 60+ exhibitors, 20 sponsors, and 40+ speakers to address operational efficiency and sustainable growth for Egypt's startups and SMEs. AMAN connected with founders and service providers across payments, legal services, HR, insurance, logistics, technology, and business infrastructure.
• Vodafone EgyptcoreChannel Partner/ Reseller/ DistributorAMAN enables Vodafone Egypt customers to pay bills and recharge mobile phones through AMAN's nationwide network of retail merchants and agents. This partnership extends Vodafone's distribution reach for prepaid credit top-ups and bill collection without requiring traditional banking channels.
• Orange EgyptcoreChannel Partner/ Reseller/ DistributorAMAN enables Orange Egypt customers to pay bills and recharge mobile phones through AMAN's nationwide network of retail merchants and agents, extending Orange's physical distribution reach for bill payments and prepaid services.
• Etisalat EgyptcoreChannel Partner/ Reseller/ DistributorAMAN enables Etisalat Egypt customers to pay bills and recharge mobile phones through AMAN's nationwide network of retail merchants and agents, extending Etisalat's bill collection and prepaid credit distribution capabilities.

Scale indicators6 records

Recent moves3 records

Expansion highlights6 records

Direct peers

• Fawry: Egypt's largest listed e-payments platform providing bill payment, POS, and digital financial services across overlapping customer segments (unbanked Egyptians, SMB merchants, telcos). The closest pure-play comparable to AMAN's core business in the same Egyptian market.
• PayMob: Egyptian payment gateway enabling online and offline merchants to accept digital payments via POS and online checkout. Operates in the same Egyptian fintech infrastructure layer with overlapping SMB merchant and unbanked-consumer use cases.
• MNT-Halan: Egyptian fintech offering payments, lending, and consumer finance targeting underbanked and unbanked populations. Overlaps with AMAN's financial inclusion mission and customer base, while extending into credit products that AMAN's installments offering could also serve.

Emerging players

• valU: Egyptian consumer-finance and installments platform under EFG Hermes offering BNPL and digital payments. Comparable to AMAN's installments business line with similar target customers (underbanked, mobile-first Egyptians).
• Khazna: Egyptian fintech offering BNPL and embedded financial services to underbanked segments. Competes in the same financial-inclusion niche and shares AMAN's focus on extending credit and payments to unbanked consumers via mobile-first channels.
• Telda: Egyptian digital bank/fintech providing mobile-first banking and payments to younger consumers. Overlaps with AMAN's e-wallet and mobile-payment product line and competes for the same digitally native Egyptian user base.

Broad incumbents

• Network International: Large MENA-focused payment processor serving merchants and financial institutions across the region. Offers overlapping acceptance and processing capabilities to AMAN but at much broader regional scale and with a bank-led GTM.

Regional players

• OPay: Africa-focused mobile money and payment platform serving unbanked and underbanked consumers across multiple African markets. Comparable to AMAN's financial-inclusion playbook but operating primarily outside Egypt with similar low-ticket transaction economics.
• M-Pesa: Africa's largest mobile money platform operated by Safaricom (Vodafone) across Kenya and other African markets. Comparable to AMAN's distribution-via-merchant-network model and the broader unbanked-population thesis, though at vastly greater scale and in different geographies.
• PayTabs: MENA-focused online payment processor providing digital payment infrastructure to merchants across the region. Comparable to AMAN's payment-processing layer but primarily serves online (not in-person POS) merchants and operates across multiple MENA geographies rather than Egypt-only.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/AMAN.EPAYMENT

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds4 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AMAN