Wadi Degla Developments, a leading real estate developer in Egypt, has formed a strategic alliance with Subsbase, supported by Banque Misr, a key investor, Invest-Gate reports.

Subsbase, a renowned platform for managing recurring revenue and subscriptions, will collaborate with Wadi Degla to integrate receivables transactions into its systems, streamlining overseas recurring payments.

The partnership aims to enhance financial visibility, optimize cash flow, fortify customer relationships, and create growth opportunities.

Raymond Ahdy, Deputy CEO of Wadi Degla Developments, expressed excitement for the collaboration, highlighting its transformative impact on real estate payments by aligning them with modern banking services. He emphasized the move as a substantial shift in internal practices, reinforcing customer commitment and adapting to contemporary commercial realities.

Moreover, Mohamed Farag, CEO of Subsbase, underscored the partnership’s significance, describing it as a major milestone. The collaboration introduces real-time payments to improve efficiency, cut costs, enhance security, and offer a more convenient experience.

As Egypt transitions toward a cashless economy, Wadi Degla’s partnership with Subsbase becomes essential, addressing the surge in digital payments valued at EGP 7.8 tn since 2019.

Furthermore, Subsbase’s cloud-based platform automates billing processes and improves operational effectiveness by reducing business overhead and minimizing errors. The collaboration includes integration with Egyptian and international banks, facilitating seamless transactions, especially those involving foreign currencies.

Sherif Aziz, Co-Founder and Chief Business Officer of Subsbase sees the collaboration with Wadi Degla as a case study inspiring innovation in the industry. Wadi Degla aims to provide customers with worry-free overseas payments through Subsbase platforms, contributing to overall satisfaction.