- At the end of 2021, Fawry Accept accounted for the largest percentage in the diversity of payment methods for the digital payments market in Egypt.
- Fawry recorded a growth of 400% in total processed value through the online gateway and 232% through Fawry acceptance POS machines.
TechInAfrica – Fawry for Banking and Electronic Payment Technology led the digital payments scene in Egypt through a series of substantial successes it achieved over the past year. The digital payments sector is also set to reach a significant qualitative leap through various online and physical payment services and solutions provided by Fawry Accept.
A product of one of the leading companies in the field of digital payments and technology, physical acceptance via Fawry POS devices was initially launched in 2015 while Fawry Accept e-payment gateway was launched in 2018, both facilitate accepting payment through all kinds of digital means approved by the Central Bank.
Fawry recently reported that the success of Fawry Accept has jumped in the volume of non-cash transactions from 2020 to 2021. During this period, we processed value of 6 billion EGP by the end of 2021. It also recorded an increase in the value of transactions estimated by 232% compared to 2020. Some of the transactions were completed through Fawry Acceptance POS devices, currently located at 150,000 retailers that accept all kinds of payment means. The processed value amounted to nearly 5 billion EGP by the end of 2021 and there was an increase of 400% compared to 2020. It also saw more than 2,407,000 active daily users.
Fawry indicated that the comprehensive payment solutions package through Fawry Accept services is available to customers through several methods. This includes the e-payment gateway service, which can be used when logging onto websites, platforms or applications online. It has more than 600 platforms and applications that accepts every kind of payment. It also offers a variety of payment and instalment options through more than six different banks, valU or Premium Card.
Customers can also utilize FawryPay that generates a unique reference code which they can use to make payments through more than 250,000 Fawry machines available at merchants, more than 160 branches of FawryPlus as well as via myfawry application and ATMs.
Fawry Accept provides advanced and flexible solutions as it accepts different payment methods with support for Meeza cards, MasterCard and Visa as well as the option for direct cash payments.
More than 250,000 Fawry machines including 150,000 machines that accept all kinds of payment means, where customers can pay bills through a variety of services available through Fawry. Offering more than 65 services, it includes the following categories: Telecom and internet bills, utilities, education, and donations, insurance, online payments, travel tickets, car licenses and other various services.
Ashraf Sabry, CEO of Fawry Group, said: “Digital payments are of great importance due to their role in promoting financial technology as a key element in advancing economic development. Financial inclusion and digital transformation in the field of electronic payments and collections work in accordance with Egypt’s 2030 vision to provide cashless payment methods on a large scale while reducing costs. We at Fawry are working to support and stimulate the use of electronic means and channels in digital payments and protect the rights of users of payment systems and services through merchant point of sale devices, Fawry Plus Branch and myfawry application for the ultimate goal of facilitating people’s lives”.
It is worth noting that during the period from 2020 to 2021, Fawry held many successful partnerships in many different fields, which helped elevate the company to leadership positions among electronic payment service providers in Egypt. Among those partnerships include the following: Jumia, Uber, Alfa Scan, Shahid, Netflix, Emirates Airlines, Tradeline and Gold’s Gym.
Fawry Company for Banking Technology and Electronic Payments was established in 2008, and it is the largest and leading platform in providing electronic payments solutions to serve all segments of society. Fawry’s primary services include electronic bill payments and mobile phone charging to serve millions of Egyptians. The company also offers other digital services such as e-tickets, TV subscriptions, and various other services. Through its business model, Fawry enables small and medium enterprises and companies to accept electronic payments through websites, mobile phones and points of sale spread across the country. The company serves more than 35 million customers per month with an average of 3 million transactions executed per day through more than 250,000 agents and a banking network of 36 banks, as well as a mobile application. For more information, please visit the website, www.fawry.com