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mehdibella

Egypt's Fawry is now a billion-dollar company - 1 views

www.menabytes.com/fawry-billion-dollar

Kiva kenya Nairobi Fintech finance

shared by mehdibella on 12 Feb 21 - No Cached
  • Fawry had witnessed a surge in its stock price during the first two months after its public markets debut but the price afterward remained almost flat until March – when they also saw it drop to one of its lowest points of EGP 7 per share. But since then, it has been on an upward trajectory – which also coincides with Covid-19.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      the pandemic has created a surge in demand for electronic payment services and Fawry being the leading player in Egypt benefitted a lot from that.
  • Fawry that is the only technology company on The Egyptian Exchange currently offers over 250 electronic payment services through its network of over 105,000 service points across 300 cities in Egypt – that include ATMs, mobile wallets, retail shops, post offices, and little vendor kiosks.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Fawry has a large network of service points and diversified services spread out in different cities in Egypt.
  • The pandemic has created a surge in demand for electronic payment services and Fawry being the leading player in Egypt obviously has benefitted a lot from that – which is also evident from company’s just-announced financials for the second quarter.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      The demand for electronic payment services mainly provided by Fawry in Egypt increased in the context of the pandemic.
  • ...7 more annotations...
  • Share7KTweetShareWhatsAppEmail7K SharesEgyptian electronic payments company Fawry now has a market cap of over $1 billion. It achieved the feat during the intraday trading, with its share price rising to EGP 22.69 which gives it a market cap of EGP 16 billion or $1 billion (for the first time). With this, Fawry has become the first technology company in Egypt to get to the billion-dollar valuation.
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      It's important to keep in mind that Fawry started out small and then became the first technology company in Egypt to get a market cap of $1 billion.
  • Egyptian electronic payments company Fawry now has a market cap of over $1 billion. It achieved the feat during the intraday trading, with its share price rising to EGP 22.69 which gives it a market cap of EGP 16 billion or $1 billion (for the first time). With this, Fawry has become the first technology company in Egypt to get to the billion-dollar valuation.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      This achievement was partly, or mainly, due to the Covid-19 pandemic that pushed many people to place a high demand on Fawry's many e-payment solutions and services.
  • Its revenue for the first half of 2020 has increased by 47 percent (year-on-year) to EGP 549.26 million ($34.41 million) from EGP 373.33 million ($23.38 million) for the same period of 2019. The net profit of the company in H1 2020 has increased by over 135 percent YoY to EGP 85.9 million ($5.38 million) from EGP 36.47 million ($2.29) in H1 2019.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Fawry leads the Fintech Egyptian Market, its stock price has increased, and its revenue has increased as well in 2020.
  • Its stock price has increased by over 300 percent since its debut at The Egyptian Exchange in August last year. It had gone public with its shares priced at EGP 6.46 (per share).
  • Egypt's Fawry is now a billion-dollar company
  • Its stock price has increased by over 300 percent since its debut at The Egyptian Exchange in August last year. It had gone public with its shares priced at EGP 6.46 (per share).
    • mehdibella
      mehdibella on 13 Feb 21
       
      Fawry had witnessed a surge in its stock price during the first two months after its public markets debut but the price afterward remained almost flat until March -
  • Its revenue for the first half of 2020 has increased by 47 percent (year-on-year) to EGP 549.26 million ($34.41 million) from EGP 373.33 million ($23.38 million) for the same period of 2019. The net profit of the company in H1 2020 has increased by over 135 percent YoY to EGP 85.9 million ($5.38 million) from EGP 36.47 million ($2.29) in H1 2019.
    • mehdibella
      mehdibella on 13 Feb 21
       
      The pandemic has created a surge in demand for electronic payment services and Fawry being the leading player in Egypt obviously has benefitted a lot from that - which is also evident from company's just-announced financials for the second quarter
  • kenza_abdelhaq on 13 Feb 21
     
    "Fawry that is the only technology company on The Egyptian Exchange currently offers over 250 electronic payment services through its network of over 105,000 service points across 300 cities in Egypt - that include ATMs, mobile wallets, retail shops, post offices, and little vendor kiosks."
  • mehdi-ezzaoui on 13 Feb 21
     
    Fawry that is the only technology company on The Egyptian Exchange currently offers over 250 electronic payment services through its network of over 105,000 service points across 300 cities in Egypt - that include ATMs, mobile wallets, retail shops, post offices, and little vendor kiosks.
hibaerrai

CONSORTIUM ACQUIRES MAJORITY STAKE IN FAWRY, EGYPT'S LEADING E-PAYMENT SERVICES PLATFOR... - 0 views

fawry.com/ng-e-payment-services-platform

Fawry Egypt E-payments Online Fintech Shares

shared by hibaerrai on 13 Feb 21 - No Cached
  • Founded in 2008, Fawry is Egypt’s first and largest Electronic Payment Network, offering financial services to consumers and businesses through more than 50,000 collection points and a variety of channels nationwideBased on its own-patented technology, that is fully compliant with international security standards of the ISA 27001 and PA DSS certifications, Fawry performs more than a million financial operations daily.Fawry services include collection services, customer acquisition, electronic cash, payment facilitation, and business-to-business collection centres.  In 2014, Fawry’s revenue reached EGP 210 million, and the company served more than 15 million customers.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it touches upon many aspects of Fawry: the nature of the company, the nature of services and products offered amongst other things.
  • A consortium of international financial investors comprising the Egyptian-American Enterprise Fund (“EAEF”), Helios Investment Partners (“Helios”, acting on behalf of funds it advises) and the MENA Long-Term Value Fund (“MENA LTV”) (together, the “Consortium”) today announced it has acquired a majority stake in Fawry, the leading electronic bill presentment and payment platform in Egypt at a purchase price valuing the company at EGP 773 million, approximately US$ 100 million.Headquartered in Cairo, Fawry provides users with a secure electronic bill presentment and payment services solution, connecting consumers, merchants, governments and financial institutions on a consolidated gateway that is accessible through multiple channels, including Point of Sale (POS) machines, ATMs, post offices, online and through mobile wallets.  Since its establishment in 2009, Fawry has been at the forefront of electronic payments in Egypt, providing pioneering, innovative and convenient payment solutions to its customers. The company today processes over one million transactions a day and operates a network of over 50,000 collection points in 300 cities and suburbs across the country.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      The Egyptian American Enterprise Fund acquired a majority stake in fawry which is a huge investment for the fintech. It promotes financial inclusion.
  • nouhaila_zaki on 13 Feb 21
     
    "Founded in 2008, Fawry is Egypt's first and largest Electronic Payment Network, offering financial services to consumers and businesses through more than 50,000 collection points and a variety of channels nationwide Based on its own-patented technology, that is fully compliant with international security standards of the ISA 27001 and PA DSS certifications, Fawry performs more than a million financial operations daily. Fawry services include collection services, customer acquisition, electronic cash, payment facilitation, and business-to-business collection centres.  In 2014, Fawry's revenue reached EGP 210 million, and the company served more than 15 million customers."
mohammed_ab

Egypt calls for financial inclusions - Wamda - 1 views

www.wamda.com/...ypt-calls-financial-inclusions

Fawry Financial inclusion Regulations

shared by mohammed_ab on 13 Feb 21 - No Cached
  • For years, Egyptian companies have been paying salaries in cash, and people have been saving money outside banks.  Only 10 percent of Egyptians have bank accounts, according to Payfort’s State of Payments in the Arab World 2014 report. Over the previous decade, the electronic payment market has been penetrated by two firms: state-owned e-Finance, which handles electronic payments from and to the government through banking channels, and private-sector Fawry, which was launched in 2008 to provide payment solutions through ATM machines, mobile wallets, and retail points. Chief technology officer of Fawry, Mostafa Elnahhas, told Wamda that his company succeeded in spreading 65,000 collection points in 300 cities for banked customers in Egypt. However, the electronic payment is still small-sized due to the large amount of unbanked customers and the low credit card penetration.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Fawry's main concerns for the next years is the large number of customers not familiar with electronic payment making fintech entry more challenging. E-services awareness should be made in that regard.
  • Regulations are, however, crippling entrepreneurs. Mourad Alashry, CEO of PayMe, launched his startup in August 2016. It  allows companies and businesses to collect electronic payment without signing contracts with banks or paying extra fees.  The startup offers a simple payment tool for companies to allow them to set up an account and have customers send money through it. PayMe app was forced by Egypt’s fiscal regulator to stop operating for four months to abide by regulations. (Photo via PayMe) However, shortly after its launch, the Central Bank of Egypt, the state regulator, suspended Payme’s operations as a payment firm as it wasn’t cooperating with a bank. The firm had to abide by this regulation until it followed the requirements and collaborated with state-owned bank the National Bank of Egypt, then resumed its business in January 2017.  
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Egypt's regulations are quite strict. If a fintech doesn't cooperate with a bank for instance, the central bank will suspend its activities until further notice.
  • Regulations are, however, crippling entrepreneurs. Mourad Alashry, CEO of PayMe, launched his startup in August 2016. It  allows companies and businesses to collect electronic payment without signing contracts with banks or paying extra fees.  The startup offers a simple payment tool for companies to allow them to set up an account and have customers send money through it.
  • ...1 more annotation...
  • Bureaucracy, the absence of clear government regulations in the electronic payment sector, and the low percentage of debit and credit card users in Egypt are affecting the sector, said Al Salahy.
  • mohammed_ab on 13 Feb 21
     
    This article shows that regulatory agencies are still very strict with fintech firms in Egypt. It makes the work for fintech very difficult as they need to abide by these regulations even if it affects their operations and growth.
hindelquarrouti

How to develop digital payments or is it how to reduce cash use - 1 views

www.stratexis.com/...ts-or-maybe-to-reduce-cash-use

fawry online payments success

shared by hindelquarrouti on 11 Feb 21 - No Cached
  • Fawry is educating unbanked population to trust electronic payments. Fawry would not have existed in a mature economy, where electronic payments are dominant. In that sense, Fawry is filling a gap left by banking players in Egypt.
  • One of the most striking differences between banking in Europe and in Egypt is cash management. Withdrawals and deposits of cash are the dominant operations in the Egyptian banking branches. It is frequent to meet customers with big bags of money in or out of banking branches. In Europe, anti-money laundering laws and electronic payments popularity made large cash operations extremely rare.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Although not everyone trusts online payment in Egypt, Fawry persuaded them by offering numerous services with simple usage and protection. Almost all Egyptians currently use fake services, especially in the telecommunications sector.
  • The success of Fawry comes from leveraging the best of the 2 means of payment: cash for its reliability and availability, and electronic systems for their seamless and fast processing.
  • ...1 more annotation...
  • What is very promising is that the success of Fawry inspired a lot of other players to create fintech companies and contributed to the transformation of Egyptian financial services, which will bring higher value to Egyptian customers.
  • chaimaa-rachid on 11 Feb 21
     
    Even though in Egypt not everyone trusts online payment, Fawry convinced them by offering different services with easy use and security. Currently, almost all Egyptians use Fawry services, especially in the telecommunications sector.
  • hindelquarrouti on 13 Feb 21
     
    It is interesting that Fawry's success can be tracked back to its use of two means. Cash payment and electronic systems. It has tried since its beginnings to make unbanked people trust electronic payments. It is also inspiring other companies in the field.
mohammed_ab

Electronic Transactions Reshape Egypt's Economy - 3 views

www.ifc.org/...egypt-digital-payments

Fawry Egypt Fintech Positive Impact Economy

shared by mohammed_ab on 11 Feb 21 - No Cached
  • The rise of online banking around the world has helped other economies solve these very challenges. Cash, for example, is hard to transport. Coins and bills are prone to theft, and their use makes dodging taxes easier for those so inclined. For individuals who must pay in person, getting across a gridlocked city like Cairo is logistically difficult. Together, these problems can constrain an economy. In Egypt, where 94 percent of all transactions were cash as recently as 2014, such a system stymies economic growth.
  • Fawry is part of a new wave of technology companies ushering Egypt into the digital age. Many of these firms are helping transform industries like banking, health care, and transport, and in the process creating good jobs for young Egyptians, more than 30 percent of whom are unemployed.
  • Sabry, a former salesperson at IBM Egypt, launched Fawry because he knew these issues kept Egypt’s economy from achieving its promise. The early years were lean as the company worked to convince tech-wary Egyptians that Fawry’s systems were secure—and that their money wouldn’t disappear into an electronic void.
  • ...6 more annotations...
  • “Time is of the essence, and Fawry saves me a lot of it,” says Shawky, who owns three electronics stores in the Egyptian capital.
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Fawry is available for its customers day and night which attracts a large range of people.
  • It was something that Cairo-based shop owner Nader Shawky had come to dread: paying his phone bill. Every month, he trekked to the offices of his mobile provider where he and dozens of others stood in line—sometimes for up to two hours—to settle their bills. It was, he admits, a maddening process.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      By providing online banking financial administrations that allow you to cover your bills, transfer cash, and access a record of your checking account transactions from your internet browser, Fawry makes the life of its clients less difficult. Banking from anywhere, at any time of day or night, makes it a little easier to do anything you do about your finances.
  • Fawry, a fast-growing Cairo-based company that specializes in electronic payments, makes it possible for Shawky to take care of his accounts online.
  • Fawry’s growth has had a profound effect on Egypt’s economy, says Akef el Maghrabi, the vice chairman of Banque Misr, one of Egypt’s biggest banks and an early Fawry partner. “When you eliminate or reduce the reliance on cash, then you fight corruption, you provide convenience, you lower costs, and you grow the economy. [Electronic payments] do a lot of good for the country.”
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      With a system that relies mainly on cash transactions, the economy faces too many challenges that stops its growth and development. For instance, cash is hard to transport, coins and bills can easily be stolen, and their use makes dodging taxes and corruption easier.
  • IFC invested $6 million in Fawry in 2013 and helped guide founder Ashraf Sabry and his team as they built their business. Now the 12-year-old company handles 2.5 million transactions a day. In 2018 Fawry processed 40 billion Egyptian pounds (about $2.5 billion) in electronic payments. Earlier in 2019, Fawry became Egypt’s largest financial technology firm to list on the national stock exchange. It now employs 1,600 people.
    • samielbaqqali
      samielbaqqali on 13 Feb 21
       
      By providing online banking financial administrations that allow you to cover your bills, transfer cash, and access a record of your checking account transactions from your internet browser, Fawry makes the life of its clients less difficult. Banking from anywhere, at any time of day or night, makes it a little easier to do anything you do about your finances.
  • As the Fawry network grew, shop owners who installed the system saw significant benefits, too. Fawry’s terminals drew new customers into stores, providing the consumer traffic that is the lifeblood of small shops. Mahmoud El Rawy, a grocery store owner and father of three, can attest to that. His shop struggled until he installed a Fawry payment terminal. “Fawry has had a big impact on my business,” says El Rawy, who now owns three supermarkets. “It helped bring me more customers and it’s why many come to me now.”
  • chaimaa-rachid on 11 Feb 21
     
    Fawry is making the life of its customers less difficult by offering online banking financial administrations that empower you to cover your bills, move cash, and access a record of your checking account transactions from your internet browser. Banking from anywhere, at any time of the day or night, makes all what you do with your finances somewhat simpler.
  • ...1 more comment...
  • hichamachir on 12 Feb 21
     
    Fintech is providing a very fast business and customer are really satisfied with it. I think that fast service is the main objective of Fintechs.
  • hindelquarrouti on 13 Feb 21
     
    Fawri is helping Egyptians in handling their bills online rather than spending hours on this kind of processes if done traditionally.
  • mohammed_ab on 13 Feb 21
     
    It's interesting to see that Fawry has a positive impact on its customers but also its business partners like small show owners.
ghtazi

Ethiopia: Ethio Pay to Push Visa Cards Out | MFW4A - Making Finance Work for Africa - 2 views

www.mfw4a.org/...-ethio-pay-push-visa-cards-out

VISA card ATM

shared by ghtazi on 11 Feb 21 - No Cached
  • The utilisation of Ethio Pay branded electronic cards will harness the hard currency payment to foreign companies, according to the company's management.
    • kenzabenessalah
      kenzabenessalah on 11 Feb 21
       
      This excerpt is important because EthioPay cards are being implemented more and more in commercial banks and are controlling the different payments to foreigners.
  • Currently, over six million people are using ATM Visa cards. Founded in 2011, with a capital of 80 million Br, Eth-Switch facilitated transactions worth 2.9 billion Br in the past fiscal year.
  • The utilisation of Ethio Pay branded electronic cards will harness the hard currency payment to foreign companies, according to the company's management.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this article shows that ethiopay is taking control not only of inter-banks and companies but foreign ones too.
  • ...2 more annotations...
  • Eth Switch, established by the 17 commercial banks to integrate Automated Teller Machines (ATMs) and Point of Sale (PoS), has already implemented Ethio Pay cards in five commercial banks so far, whereas the remaining are still use visa cards. Until now, the banks have been paying a lot of money for using the trademark of the VISA cards.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it explains how 17 commercial banks decided to integrate Ethiopay electronic cards in all the banks of the country, at the expense of VISA cards which have been dominating the market thus far.
  • Eth Switch S.C, the consortium of private banks, is to implement electronic cards belonging to the same brand- Ethio Pay, in all the banks of the country. Eth Switch, established by the 17 commercial banks to integrate Automated Teller Machines (ATMs) and Point of Sale (PoS), has already implemented Ethio Pay cards in five commercial banks so far, whereas the remaining are still use visa cards. Until now, the banks have been paying a lot of money for using the trademark of the VISA cards. The utilisation of Ethio Pay branded electronic cards will harness the hard currency payment to foreign companies, according to the company's management. Currently, over six million people are using ATM Visa cards. Founded in 2011, with a capital of 80 million Br, Eth-Switch facilitated transactions worth 2.9 billion Br in the past fiscal year. Source: All Africa
    • ghtazi
      ghtazi on 13 Feb 21
       
      this is important because it shows us that there are 5 commercial banks that have implemented Ethiopay cards so far.
  • mehdi-ezzaoui on 13 Feb 21
     
    Using Ethio Pay branded electronic wallets, according to management, the business can use hard currency transfers to international companies and could push VISA out
tahaemsd

Bank of Ghana Licenses First Fintech; Zeepay Ghana to Operate as an Electronic Money Is... - 0 views

www.proshareng.com/...50782

fintech payments africa modernization electronic

shared by tahaemsd on 12 Feb 21 - No Cached
  • In furtherance of efforts to deepen financial inclusion and in accordance with the Payment Systems and Services Act, 2019 (Act 987), the Bank of Ghana has issued its first Dedicated Electronic Money Issuer Licence, to a local Financial Technology (Fintech) company, Zeepay Ghana Limited.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      This license authorises Zeepay to operate as a dedicated electronic money issuer
hindelquarrouti

IfG.CC - Egypt: Fawry launches first nation-wide electronic bill payment and presentmen... - 0 views

www.ifg.cc/...t-and-presentment-network.html

fawry Egypt Fintechs User-friendly

shared by hindelquarrouti on 13 Feb 21 - No Cached
  • Fawry service can immediately be used by Egyptians to receive and pay their bills electronically among an ever growing list of billers and supporting banks. Consumers can already use Fawry for bill presentment and payment for telecommunications services including Etisalat, Mobinil, and Vodanfone.
  • hindelquarrouti on 13 Feb 21
     
    Fawry inaugurated EBPP, electronic bill payment and presentment in order to satisfy its customers needs. Also, it is experiencing a remarkable increase in the number of users and thanks to that it is bringing Egypt steps forward in the field of e-payment.
hindelquarrouti

The launch of MasterCard Bill Pay services in cooperation with Fawry | Al Bawaba - 0 views

www.albawaba.com/vices-cooperation-fawry-384022

MasterCard Fawry Payments

shared by hindelquarrouti on 12 Feb 21 - No Cached
  • For the first time in Egypt, MasterCard Worldwide has teamed up with Fawry, the nationwide Electronic Bill Payment and Presentment (EBPP) network, to launch MasterCard Bill Pay services to enable MasterCard cardholders to use their cards for bill payments and mobile top-up via Fawry’s retail network. MasterCard cardholders can now settle their Internet, mobile and fixed line bills and also utilize the top-up payment services through Fawry-MasterCard enabled retail locations across Egypt.
  • For the first time in Egypt, MasterCard Worldwide has teamed up with Fawry, the nationwide Electronic Bill Payment and Presentment (EBPP) network, to launch MasterCard Bill Pay services to enable MasterCard cardholders to use their cards for bill payments and mobile top-up via Fawry’s retail network. MasterCard cardholders can now settle their Internet, mobile and fixed line bills and also utilize the top-up payment services through Fawry-MasterCard enabled retail locations across Egypt.
  • For the first time in Egypt, MasterCard Worldwide has teamed up with Fawry, the nationwide Electronic Bill Payment and Presentment (EBPP) network, to launch MasterCard Bill Pay services to enable MasterCard cardholders to use their cards for bill payments and mobile top-up via Fawry’s retail network. MasterCard cardholders can now settle their Internet, mobile and fixed line bills and also utilize the top-up payment services through Fawry-MasterCard enabled retail locations across Egypt.
  • ...2 more annotations...
  • This is the first time the service has been introduced in Egypt and MasterCard cardholders will be the first to enjoy this fast, easy, secure and convenient bill payment channel. MasterCard and Fawry opted to launch this service in Egypt as a key market in the Middle East and Africa regions.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      MasterCard is committed to offering creative transaction solutions for the Egyptian industry, which is continuously evolving electronic installments. MasterCard replied to the needs of Egyptian consumers, who are continually progressing and need to make their regular payments with more adaptable and safe payment options.
  • Recognizing the need to continue providing our customers with innovative payment options, we worked closely with MasterCard to offer cardholders a new and convenient method for bill payments,” said Ashraf Sabry, CEO, Fawry
  • chaimaa-rachid on 12 Feb 21
     
    MasterCard is devoted to delivering innovative transaction solutions for the Egyptian market where electronic installments are continually developing. MasterCard tended to the necessities of Egyptian customers, who are consistently progressing and require more adaptable and secure payment choices to make their everyday installments.
  • hindelquarrouti on 13 Feb 21
     
    It is remarkable how a company like Fawry, that started in a market with a considerable number of unbanked people, and sceptical people regarding online financial payments, made it to a partnership with MasterCard.
mehdibella

"WatchIT" Provides its Services Electronically through "FawryPay" - Fawry - 0 views

fawry.com/lectronically-through-fawrypay

Kiva kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • In the framework of its concern in making it easy for citizens to pay for accessing its e-services via the Internet, in order to reach a society more dependent on electronic payments; WATCH iT! has announced signing a partnership agreement with Fawry the leading Fintech network in Egypt to offer its services through “Fawry Pay” to the public. WATCH iT! It is the first of its kind in Egypt and the newest in the Middle East and North Africa, where the number of its users reaches 1.5 million users and has a huge library the most diverse, containing more than 650 thousand entertainment hours of movies, series and programs that suit all ages.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Fawry has signed up an agreement with Watch IT in order to expand the Fintech network and encourage online payment in Egypt. Therefore, I believe that this partnership will enable both businesses to reach more customers, increase productivity, and therefore increase profits.
  • In the framework of its concern in making it easy for citizens to pay for accessing its e-services via the Internet, in order to reach a society more dependent on electronic payments; WATCH iT! has announced signing a partnership agreement with Fawry the leading Fintech network in Egypt to offer its services through “Fawry Pay” to the public.
  • "WatchIT" Provides its Services Electronically through "FawryPay" - Fawry
  • ...2 more annotations...
  • Mohamed Okasha, Managing Director of Fawry, said that the partnership with WATCH iT! is the result of a joint cooperation to provide outstanding services to customers, highlighting that “Fawry Pay” payment methods include payment either cash through any of Fawry outlets or online using credit cards (MizaCard, MasterCard and Visa) in addition to bank channels linked to Fawry’s network (ATM, Internet banking, mobile wallets) and also through “myFawry” application available for smart phones.
  • “Fawry Pay” platform provided by Fawry for the online shopping sector, offers customers different payment methods and various e- services. Over one million and 100,000 transactions were made on “Fawry Pay” platform during this year till the end of August 2019 for more than 280 e-merchants dealing with the service.
mehdibella

SnapScan: innovative system of payment / News / Std bank - Standard Bank Moça... - 0 views

www.standardbank.co.mz/...n-innovative-system-of-payment

Fintech finance SouthAfrica snapscan

shared by mehdibella on 13 Feb 21 - No Cached
  • “The introduction of these two electronic platforms is in response to the Central Bank’s challenges of financial inclusion of the citizens. The USSD and the SnapScan, which are in the testing phase, will allow people from remote locations, even without bank branches, to perform fast and safe operations”, said the Managing Director from Standard Bank.With these two platforms, as mentioned, Standard Bank also intends to boost the migration of banking transactions from branches to electronic platforms, making the bank more accessible, in a quick, convenient and safe manner from anywhere, anytime.
    • samiatazi
      samiatazi on 13 Feb 21
       
      The manager of The standard bank here highlights the importance of digital transformation of the banking system using financial technologies and its positive benefits on the customer.
  • With these two platforms, as mentioned, Standard Bank also intends to boost the migration of banking transactions from branches to electronic platforms, making the bank more accessible, in a quick, convenient and safe manner from anywhere, anytime.
  • “The introduction of these two electronic platforms is in response to the Central Bank’s challenges of financial inclusion of the citizens. The USSD and the SnapScan, which are in the testing phase, will allow people from remote locations, even without bank branches, to perform fast and safe operations”, said the Managing Director from Standard Bank.
mehdibella

FWRY.CA - Fawry for Banking Tech and Elec Pay SAE Key Developments | Reuters - 0 views

www.reuters.com/...key-developments

Kiva kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • Fawry Shareholders Approve To Sell 1000 Shares In Fawry Dahab Electronic Services To Banque Misr
  • FAWRY FOR BANKING TECHNOLOGY AND ELECTRONIC PAYMENT <FWRY.CA>::SHAREHOLDERS APPROVE TO SIGN AGREEMENT TO SELL 1000 SHARES IN FAWRY DAHAB ELECTRONIC SERVICES TO BANQUE MISR.SAHREHOLDERS APPROVE FCILITY AGREEMTNT BETWEEN UNIT FAWRY MICROFINANCE AND EGPYTIAN AMERICAN ENTERPRISE FUND IN A LIMIT OF EGP 160 MILLION .TO SELL SHARES IN FAWRY DAHAB ELECTRONIC SERVICES AT EGP 6,705 PER SHARE.SHAREHOLDERS APPROVE FINANCING OFFER FORM BANQUE MISR IN AUTHORISED CASH LIMIT OF EGP 150 MILLION.SAHREHOLDERS APPROVE AUTHORIZED CAPITAL INCREASE TO EGP 1 BILLION FROM EGP 500 MILLION.SHAREHOLDERS APPROVE ISSUED CAPITAL INCREASE TO EGP 453.7 MILLION FROM EGP 353.7 MILLION.SHAREHOLDERS APPROVES ISSUED CAPITAL INCREASE TO EGP 853.7 MILLION FROM EGP 453.7 MILLION THROUGH RIGHTS ISSUE.
kaoutarchennoufi

Fawry | Helios Investment Partners | Helios Investment Partners - 0 views

www.heliosinvestment.com/fawry

shared by kaoutarchennoufi on 12 Feb 21 - No Cached
  • Fawry provides users with a secure electronic bill payments solution, connecting consumers, merchants, governments and financial institutions on a consolidated gateway that is accessible through multiple channels, including Point of Sale (POS) machines, ATMs, post offices, online and through mobile wallets. 
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      how Fawry is pioneering electronic bill presentment and payment platform
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Fawry is able to connect different types of segments and people from consumers to merchants to government, etc.
  • Fawry provides users with a secure electronic bill payments solution, connecting consumers, merchants, governments and financial institutions on a consolidated gateway that is accessible through multiple channels, including Point of Sale (POS) machines, ATMs, post offices, online and through mobile wallets. 
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Many people are concerned with the level of security of these financial services providers and sometimes they refuse to use them because of this matter. However, Fawry provides its customers with a secure electronic bill payments solution through multiple channels including point of sale which is easy to use and increases efficiency.
hindelquarrouti

Deezer to provide collection services via Fawry Pay - Daily News Egypt - 1 views

dailynewsegypt.com/...lection-services-via-fawry-pay

fawry Deezer partnership

shared by hindelquarrouti on 11 Feb 21 - No Cached
  • Deezer platform, which specialises in music broadcasting, has agreed with the electronic payment company Fawry to have the Fawry Pay platform provide payment and subscription services for its various music package
  • Deezer aims to attract music streaming market. Fawry already provides electronic payment services for other entertainment services, such as movie tickets, theatres, and football matches, as well as facilitating ways to pay subscriptions to watch dramas and more
  • Mohamed Okasha, managing director of Fawry, said that the partnership with Deezer aims to attract music streaming market. Fawry already provides electronic payment services for other entertainment services, such as movie tickets, theatres, and football matches, as well as facilitating ways to pay subscriptions to watch dramas and more
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Fawry has collaborated with Deezer to make it easier for clients to pay than before.
  • ...5 more annotations...
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • chaimaa-rachid on 11 Feb 21
     
    I think it's a good idea that Fawry has partnered with Deezer in order to make payment easier for customers than before.
  • hindelquarrouti on 13 Feb 21
     
    Fawry made a smart partnership with Deezer because it has seen that this later has experienced an increasing demand. Fawry now targets users of music streaming markets as it provides them with electronic payment services.
aminej

Fawry Banking and Payment Technology Services: Overview | LinkedIn - 0 views

www.linkedin.com/...nd-payment-technology-services

Egypt Fintech Service Payment Mobile Platform ATM Convenient

shared by aminej on 12 Feb 21 - No Cached
  • Fawry Banking and Payment Technology Services- a joint venture between HSBC, Arab African International Bank, Bank of Alexandria, EFG Hermes, Raya Holding and Fawry management)- is an electronic bill payment and presentment (EBPP) network that enables the Egyptian public to conveniently and securely pay their bills and topup their mobile phones through the various electronic channels available at banks and a network of retailers. Consumers will be able to pay their bills, buy their tickets, topup their phones and process other types of payments by seeking the service through any member bank or member retailer on the network. We link billers of all sectors to our nationwide network and integrate with them to make their bills available in electronic format
    • aminej
      aminej on 12 Feb 21
       
      I like this service a lot since it is very practical for people who work all day and who do not have time to go to different places in order to pay for their different bills. It is also convenient for people who want to order groceries but do not want to go and lose time there. They offer services that people need on a daily basis in a practical way
hindelquarrouti

Fawry changing the culture of payment in Egypt: Top management - Daily News Egypt - 1 views

dailynewsegypt.com/...e-payment-egypt-top-management

fawry Fintechs Services

shared by hindelquarrouti on 11 Feb 21 - No Cached
  • our solution is based on high technology and based on Service Oriented Architecture (SOA) standard. We are highly available and our system is scalable as it can carry huge numbers of transactions. We are now certifying for the Payment Application Data Security Standard (PA-DSS) for security development and we’re following the standards of the Interactive Financial Exchange (IFX), ISO27001 and other different standards related to technology and security. Our solution is based on applying the latest technology, following the latest standards and being reliable. Moreover we allow easy access through more channels than competition to satisfy our customers’ needs. Also we’re covering more sectors and providing more services than our rivals.
  • Fawry is an Egyptian company that started in 2009 with the purpose of offering electronic payment services through several payment channels. The service started at banks and a big network of outlets all over the republic as well as Egypt post.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      The business aims to be creative as much as possible and to make all its offerings very realistic in order to make it simpler for its customers. Fawry cares a lot about the happiness of its customers. I believe Fawry recognizes the value of customer loyalty and how it allows an organization to retain profitability.
  • Fawry is an Egyptian company that started in 2009 with the purpose of offering electronic payment services through several payment channels. The service started at banks and a big network of outlets all over the republic as well as Egypt post.1 Now we are covering about 60 types of bills, where we cover the telecommunications sector and lately we covered all electrical companies in the country and some water companies. We also offer our services at universities and syndicates. Adding to that, users can now buy their airline tickets through us.
  • ...1 more annotation...
  • Fawry is an Egyptian company that started in 2009 with the purpose of offering electronic payment services through several payment channels. The service started at banks and a big network of outlets all over the republic as well as Egypt post. Now we are covering about 60 types of bills, where we cover the telecommunications sector and lately we covered all electrical companies in the country and some water companies. We also offer our services at universities and syndicates. Adding to that, users can now buy their airline tickets through us.
  • chaimaa-rachid on 11 Feb 21
     
    Fawry cares a lot about the satisfaction of its customers, the company tries to be innovative as much as possible and to make all its services very practical in order to make life easier for its customers. I think Fawry knows the importance of customer satisfaction and how it helps a business maintain sustainability.
  • hindelquarrouti on 13 Feb 21
     
    Fawry is gaining more and more popularity in Egypt. Also, it has developped two methods of payments: 1) anonymous: in which customers can pay their bills without actually revealing their identity. 2)Account creation: in this case the customers need to create an account with Fawry; this last one makes the process much easier for the customer
nouhaila_zaki

Fawry's market cap swells to over $2 billion - MENAbytes - 1 views

www.menabytes.com/fawry-2-billion

Fawry Egypt Stock Market Pandemic

shared by nouhaila_zaki on 13 Feb 21 - No Cached
  • ess than six months after becoming the first billion-dollar technology company in Egypt, Fawry has hit another milestone by surpassing the $2 billion market cap for the first time. Its stock has doubled in the last six months and closed at an all-time high of EGP 46.90 today, pushing its market cap to over EGP 32 billion. This makes it the fourth most valuable company listed on The Egyptian Exchange (EGX) and it seems that it’s only a matter of days before it takes the second position. The Egyptian payments firm had gone public in August 2020 by listing its shares on EGX at the price of EGP 6.46 per share. The share price has surged over 7x after company’s public market debut about eigtheen months ago.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Rapid Stock growth of Fawry after introduction in the Egyptian Exchange On August 2020. It is currently the fourth most valuable company listed in the EGX.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it discusses Fawry's market cap which increased to $2 billion in 2021, thus becoming the fourth most valuable company listed on the Egyptian stock exchange. Fawry is also expected to take the second position in a matter of days.
  • Being the leading the electornic payments player in Egypt, Fawry is arguably the biggest benificiary of acceleration of digital payments there. It offers hundreds of electronic payment services through its network of over over close to 200,000 service points across Egypt – whcih include ATMs, mobile wallets, retail shops, post offices, and vendor kiosks. Fawry has introduced many new payments and lending products for both consumers and businesses over the last tweleve months and is apparently on additional new services too that are expected to be rolled out within the next few months.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Large network and diversified services related to payments makes Fawry the leading electronic payments player in Egypt and the only technology stock listed on the Egyptian Exchange.
  • Fawry is yet to announce the results for fourth quarter of 2020 but for the first nine months of last year, the company made about $57 million (EGP 892.7 million) in revenue, an 45.2 percent increase year-on-year basis. For the same period, it doubled its net profit (on a YoY basis) to $7.5 million (EGP 119 million). The company has been witnessing decent growth over the last few years but it seems that Covid-19 has accelerated it even further.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects how the covid-19 pandemic accelerated the growth and increased the net profit of Fawry.
  • hindelquarrouti on 13 Feb 21
     
    Fawry is experiencing a drastic growth and it is becoming the leading electronic payments company in Egypt. It is benefiting from the acceleration of digital payments in Egypt.
sawsanenn

Fintech Collaboration: SystemSpecs, Paga Partner to Boost Digital Payments - SystemSpec... - 0 views

systemspecs.com.ng/...tner-to-boost-digital-payments

Nigeria FinTech E-payments

shared by sawsanenn on 13 Feb 21 - No Cached
  • According to Ezinne Obikile, SystemSpecs Executive Director, Infrastructure and Payments Gateway; “SystemSpecs is committed to driving financial inclusion and providing payment convenience to all, which underscores this strategic partnership with Paga to extend a wide range of financial solutions and services to customers everywhere, even at a time as this.”
    • ghtazi
      ghtazi on 13 Feb 21
       
      Paga and SystemSpecs want to have a partnership so both companies can extend a wide range of financial solutions and services to customers everywhere.
  • Also commenting, Jay Alabraba, Co-founder and Director of Business Development, Paga said: “In our commitment to make payments easier for all Nigerians and businesses, we are pleased to collaborate with SystemSpecs. Our goal is to always provide an improved experience to our customers everywhere, by leveraging digital technology. This collaboration would further help us meet the needs of individuals who seek to make various bill payments, including those in emerging markets.”
    • ghtazi
      ghtazi on 13 Feb 21
       
      Paga wants to make payments easier for all Nigerians and businesses. and with Paga's collaboration with SystemSpecs, they will facilitate it even more.
  • SystemSpecs, Nigeria’s leading fintech company and providers of Remita, and Paga, the foremost mobile money service providers in the country have partnered to extend the frontiers of electronic payments in Nigeria. This comes as Nigerians social distance, stay at home and remain safe in the face the Covid-19 pandemic.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt introduces the partnership that occurred between SystemSpecs and Paga during the covid-19 pandemic in order to advance with electronic payments in Nigeria.
  • ...2 more annotations...
  • The immediate impact of the collaboration on the public is the easy generation of Remita Retrieval Reference (RRR) and payments into the Federal Government’s Treasury Single Account. It would also enable payments to other Remita billers such as state governments, tertiary institutions and other organisations by Paga customers and agents directly through Paga platforms.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it discusses the impact of this collaboration on the public, but also on other institutions i.e. state governments etc.
  • In a recent announcement by the organisations, the first phase of the collaboration would enable Paga customers to easily initiate and complete payment to all Remita billers and merchants right from Paga’s web channel – paga.com. Paga’s agents nationwide would also be able to process end-to-end payments to all Remita customers from their platforms. The initiative is applauded by industry enthusiasts and is expected to chart the path for deeper collaboration within the fintech ecosystem, making electronic payments more attractive and less stressful for customers irrespective of their needs and location.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this partnership can not only develop new services but also attract more customers.
mehdibella

Cape Town goes cashless as mobile payment apps take off - BBC News - 0 views

www.bbc.com/...business-30184359

Fintech finance SouthAfrica snapscan

shared by mehdibella on 13 Feb 21 - No Cached
  • Fast paymentsViews like these account for the arrival of a number of different mobile payments options. SnapScan has garnered the most attention, but the sector also includes the likes of FlickPay, Zapper and GustPay.
    • nourserghini
      nourserghini on 13 Feb 21
       
      This is useful because it states that other fast payment companies in the region's sector are FlickPay, Zapper and Gustpay, which makes them potential competitors for Snapscan.
  • SnapScan merchants receive a static QR [quick response] code - or SnapCode - identifier to display next to their tills.
  • "SnapScan does not charge shoppers any fees. Merchants pay a small transaction fee that is comparable or cheaper than using normal credit card facilities."
  • ...4 more annotations...
  • "SnapScan instead tries to give access to electronic payments to a large group of merchants who do not qualify for formal card payment facilities, or where card machines do not make sense," he says.
    • mehdibella
      mehdibella on 13 Feb 21
       
      I find that SnapScan is very useful as it provides its customers with an easy navigation platform, security, and a 10 min max sign-up process, in addition to many key features. Furthermore, This mobile payment app serves not only small startups and vendors but also larger merchants.
  • "We've seen a lot of interest from churches in the last few weeks, for instance, as the app allows for immediate, relatively large donations, while also eliminating the hassle of managing and administrating cash collections," he says.
  • "At its core, SnapScan is about giving everyone access to fast, convenient and safe electronic purchases," says co-founder Kobus Ehlers. "We designed the product to suit a wide variety of shops, from the largest retailer to a small street vendor selling fruit next to the side of the road."
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      SnapScan is offering fast, convenient, and safe electronic purchases.
  • Instead, she's one of a growing number of people in South Africa's Mother City who are leaving their wallets at home in favour of digital money apps."I use SnapScan," she says. "I love it. If I find someone using SnapScan I will buy something even if I wasn't intending to. "I find myself telling small coffee shops and vendors at markets that they should get it. I love not needing cash on me. I love not handing over my credit card."
    • ayoubb
      ayoubb on 13 Feb 21
       
      Snapscan
kenzabenessalah

Fawry Banking and Payment Technology Services: About | LinkedIn - 0 views

www.linkedin.com/...about

Banking Channels Efficiency

shared by kenzabenessalah on 13 Feb 21 - No Cached
  • Fawry Banking and Payment Technology Services- a joint venture between HSBC, Arab African International Bank, Bank of Alexandria, EFG Hermes, Raya Holding and Fawry management)- is an electronic bill payment and presentment (EBPP) network that enables the Egyptian public to conveniently and securely pay their bills and topup their mobile phones through the various electronic channels available at banks and a network of retailers.
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      This service has helped the Egyptian community secure their bills through new electronic channels that weren't present before.
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