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Ashraf Sabry, CEO of Fawry electronic payment company, disclosed that his company has received an investment of $20m from a foreign investment fund. Currently, the company is working to expand and develop the services it provides to consumers. Fawry annually invests EGP 30-40m to develop its technological infrastructure and increase the number of points offering …
The demand for instalment services has increased in light of the current economic conditions in Egypt. Nevertheless, an investment opportunity is created for electronic payment companies to represent the link between the installment customer and the collection, especially that Egypt aims to implement financial coverage. Fawry, the main electronic payment network in the Egyptian market, …
EGP 1bn to be collected on a quarterly basis from 200,000 customers within the mortgage finance agreement
“Fawry,” the Egyptian Market electronic payment company, has continued their role of facilitating donations throughout the year into the holy month of Ramadan. The organisation donates to a vast number of NGOs and charities in Egypt, including the largest institutions that cover most of the governorates. “Fawry’s” goal is to spread the spirit of cooperation …
The adoption of an integrated network between the Civil Status Authority and other government agencies will allow opening bank accounts without going to banks, says Sabry
From the beginning of November, instalments for the new phase of the social housing project reached EGP 1.08bn paid by 270,000 people. These instalments are to book 400,000 units dedicated to low-income citizens in new cities and governorates. Mohamed Okasha, managing director of Fawry, said 270,000 people have paid booking deposits through Fawry. Each …
40% expected growth for the size of the company in 2017
We aim to increase the number of payment points in Egypt to 70,000 in 2017
We began launching the service with a number of banks and will soon be activated with others, says Fawry CEO
We aim to increase payment outlets to 60,000 by the end of 2016, says CEO
E-payments market is set to grow by 60%, says CEO
The company is preparing to launch new services and access 17 million users
By Mohamed Alaa El-Din and Hossam Mounir Fawry Company will allocate EGP 20m for investments in payment solutions for the electronic trade sector in the upcoming period, company CEO Ashraf Sabry revealed in a statement to Daily News Egypt. The service will launch before the end of the first quarter of 2016, he said. However, …
Approximately 20% of the shares were acquired by the Egyptian American Enterprise Fund, 40% by Helios International Partners (on behalf of the funds it consults for), and 25% of the share was acquired by the MENA Long Term Value Fund.
Service to be activated in the next month, with studies conducted to provide credit services for smart electricity metres
The company started working through a paid capital worth EGP 77m, of which 75% belonged to Egyptian banks and entities including: Amlak Egypt, AlexBank, the Information Technology Development Fund, the Arab African International Bank, Raya Holdingand HSBC.
Five new financial services sought in cooperation with banks during 2015, says Sabry
Daily transaction rate has gone up from 1,000 per day by the end of 2009 to over 1m, says CPIO
Expansion brings bank’s total number of ATMs to 286 across the country
Egypt’s EBPP leader provides convenience and efficiency to vehicle owners
In an exclusive interview with the Daily News Egypt, Magdy Hassan, Country Manager of MasterCard Egypt, highlighted the programmes and services the credit card provider offers. He also highlighted the “Road to Inclusion Report” adopted by MasterCard.
Value of financial transactions made through Fawry’s service $571m; 40 thousand outlets across the country for e-payment; one million transactions made daily through the company’s services; plans to expand to Arab Gulf countries in the coming period.
Fawry plans to begin regional expansion in the United Arab Emirates before moving on to other markets in Gulf Arab states
This service will allow citizens to obtain their car license directly from traffic units skipping several procedures except the technical examination process
North Cairo Electricity Distribution Company and National Bank of Egypt sign agreement to receive payments online
MasterCard praises Fawry for ‘producing a non-traditional payment solution tailored to the market’
The investment in ‘Fawry’ the electronic payment provider, will be used to extend the network of payment terminals across the country