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May 12, 2014updated 04 Apr 2017 4:07pm

Egyptian electronic payment platform Fawry to expand into gulf region

Fawry, the Egyptian Electronic Bill Presentment and Payment (EBPP) platform, has unveiled its expansion strategy into the UAE as well as the other Gulf Cooperation Council (GCC) regions.

By Verdict Staff

Fawry, the Egyptian Electronic Bill Presentment and Payment (EBPP) platform, has unveiled its expansion strategy into the UAE as well as the other Gulf Cooperation Council (GCC) regions.

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Fawry CEO Ashraf Sabry was quoted by zawya.com as saying, "Today billers, whether telephone, water and electricity companies, retail outlets or online portals are under pressure from a more cognisant and connected Arab consumers who demand to have a choice of how and where they get, view and pay their bills."

"Fawry can support these entities by allowing them to meet their consumers at their preferred point of payment. We did this successfully in Egypt, and we can replicate this success throughout the region."

Operating as a bi-lingual Arabic-English platform, Fawry allows billers to electronically present their bills through Fawry’s network and allows consumers to pay for them through a single, robust and secure network that supports a variety of payment channels.

The payment channels supported by Fawry network include ATM machines, online banking, mobile phones, customer call centres, Integrated Voice Response (IVR) systems as well as a network of enabled retail outlets across Egypt.

Furthermore, Fawry can simplify and accelerate the development and deployment of new e-billing services by governments, financial institutions and commercial organisations by providing a robust, scalable infrastructure for Service Oriented Architecture (SOA).

Fawry was introduced in Egypt in 2009, and currently has more than 40,000 points across the country, including 15 banks, 4,200 ATMs, 1,300 Egypt Post Office branches, and 35,000 retailers across Egypt.

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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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