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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.
kenza_abdelhaq

TPAY Mobile Company Profile: Funding & Investors | PitchBook - 0 views

pitchbook.com/...233058-34

TPay Mobile Algeria payments

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • Developer of an open mobile payment platform in Dubai. The company's platform leverages the mobile network operator billing relationship and collection network to allow mobile phone users to buy online products and services using only their cell phone number with the purchase costs being added to their cell phone bill or deducted from their balance, enabling telecom operators and online merchants to get a seamless Direct Carrier Billing (DCB) ecosystem.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Services offered by Tpay Mobile.
  • kenza_abdelhaq on 12 Feb 21
     
    "Developer of an open mobile payment platform in Dubai. The company's platform leverages the mobile network operator billing relationship and collection network to allow mobile phone users to buy online products and services using only their cell phone number with the purchase costs being added to their cell phone bill or deducted from their balance, enabling telecom operators and online merchants to get a seamless Direct Carrier Billing (DCB) ecosystem."
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

Omidyar Network Awards $5 Million Grant to Kiva to Spur Growth of Microfinance in Under... - 0 views

omidyar.com/...finance-in-underserved-markets

Kiva kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • Omidyar Network will match up to $2 million of online donations from individual Kiva lenders. Amy Klement, Vice President, Investments at Omidyar Network, will join Kiva’s board of directors.
  • Kiva will use the funding to further develop its technology platform, expand its network of field partners, and continue to invest in due diligence and monitoring capabilities across its growing portfolio. The commitment, which marks the largest grant in Kiva’s history, reflects Omidyar Network’s focus on bringing microfinance to underserved markets as well as catalyzing social impact through technology.
aminej

Dayra, an Egyptian fintech wins $15,000 grant from Y Combinator's Startup School - MENA... - 0 views

www.menabytes.com/dayra-yc-startup-school-grant

Fintech Online Service Mobile Transfer Money Platform Insurance

shared by aminej on 12 Feb 21 - No Cached
  • Share246TweetShareWhatsAppEmail246 SharesCairo-based fintech Dayra has won $15,000 grant from Y Combinator’s Startup School, becoming the first startup from the Middle East & North Africa to win it. The winners, most of which were from the United States, were announced by Y Combinator on Friday. MENAbytes also understands that there are at least three startups from the region that have made it to Y Combinator’s current accelerator batch (Winter 2020) that YC will reveal at its demo day in March 2020 – good few months for MENA at YC.
    • aminej
      aminej on 12 Feb 21
       
      It is amazing to see that North African Fintechs are also doing really well and even winning some competition and money to help develop themselves.
sawsanenn

Frontiers | FinTech: A New Hedge for a Financial Re-intermediation. Strategy and Risk P... - 0 views

www.frontiersin.org/...full

FinTech Financial inclusion Strategies

shared by sawsanenn on 13 Feb 21 - No Cached
  • FinTechs and the Value Chains in the Financial IndustryIt is beneficial to remember how things worked before and after FinTechs and TechFins or big techs in the financial industry.Banking models are shifting significantly from a pipeline, vertical, paradigm, to modular solutions that pave the way to new banking paradigms that entail higher levels of openness toward third parties and a growing number of modular services bundled together.Value is created in platforms through economies of scope in production and innovation (Gawer, 2014). In order for platforms to work, adoption and network effects are essential. Models can go to mere compliance with the prescriptions of openness of PSD2, to the inclusion of new services, the opening of the banking core and data, and the aggregation of those within a platform experience. In particular, we assist both to the evolution of a Bank-as-a-Platform model and a tech-platform-driven model supporting banking and financial intermediation, which both constitute a new interesting field of analysis.Since the wave of digital transformation started entering the financial industr
  • , banking-as-a-business has started moving from a product/service perspective to more contextual solutions where providers are customer needs-driven. This is because customer-driven companies outperform the shareholder-driven ones, and this requires an outside-in approach.Having said that, it is beneficial to remember that digital transformation implies four main categories of innovation (product, process, organizational and business model) (Omarini, 2019, p. 340); all of them require rediscovering that a new strategy paradigm exists. This regards the concept of co-creation, and because of this no single firm can unilaterally carry out a process of continuous experimentation, risk reduction, time compression, and minimizing investment while maximizing market impact. Co-creation requires access to resources from extended networks (suppliers, partners, and consumer communities).Under these new market conditions, FinTechs have become an important piece of a bigger puzzle, each one in its own area of business (payment, lending, etc.), while at the beg
  • inning most of them started as mono-business companies. Only a few of them may become leaders in the market. On the one hand, there are those that make their strategy become international, and on the other, there are FinTechs which enlarge their services-scopes. However, the majority of them will become part of ecosystems where the direction could swing from banks to tech companies or to FinTechs as well, able to manage the network by developing kinds of conglomerate-as-a-service.Another interesting point to outline regards this recent period where all of us have experienced lockdowns around the world, and some effects have also impacted FinTechs as well. The valuations of most unicorns have crashed overnight, while on the FinTechs side there are different situations. Some of them have experienced a dramatic reduction in their
  • ...6 more annotations...
  • strategy development process, especially when the various units and individuals in the network must collectively execute that strategy. The key issue is this: balancing act between collaborating and competing is delicate and crucial” (Prahalad and Ramaswamy, 2004, p. 197).If co-creation is fundamental to the industry, this needs to leverage on a wider customer perspective that requires introducing the idea of developing ecosystems where the customer is truly free to move and choose the best deal in more competitive markets able to let consumers' ability to make informed decisions against any possible market concentrations among market providers.A business ecosystem (Moore, 1996) reflects the new paradigm of competition in a better way. Traditional management models aimed at gaining competitive advantage, such as vertical or horizontal integration, economies of scale and scope, are not effective anymore. The value of today's companies is determined by the size of its ecosystem (Tewari, 2014). Business ecosystems consist in crossovers of a variety of industries, of which companies cooperate and embrace open innovation to satisfy new customers' needs an
    • samiatazi
      samiatazi on 13 Feb 21
       
      Digital transformation implies four main categories of innovation: product, process, organizational and business model. FinTechs have become a significant piece of a greater riddle, every one in its own zone of business. The victors are those that have sufficient liquidity and money to purchase great innovation. This is particularly valid for installments that will be progressively contactless. Individuals costs and per-client commitment edge are key elements, and important markers. The more wellsprings of incomes an organization holds, the better it is for it to be a FinTech.
  • sons can be learnt from difficult times especially due to external factors such as the following:- People costs and per-customer contribution margin are key factors, and valuable indicators. They are valuable for incumbents too. When staff costs rise, then this becomes a burden if growth is not going to move on. Then, if we move on the per-customer contribution margin (revenue, minus variable costs including credit losses), then this makes a FinTech earn more money per bank account than the cost of running those bank accounts.- One more point has to do with the way a FinTech makes its revenues per customer, and net income is the figure to look out for here. This means that the more sources of revenues a company holds, the better it is for it. If we think of some of the best-known FinTechs, they gather their net income from interchange fees, ATM withdrawals, which can diminish during the pandemic, but gathering revenues from other sources such as lending, investing, or again from referring customers to third-party services, and earning commissions from these referrals.Under this oncoming market structure configuration, a focus on control and ownership of resources is giving way to the importance of accessing and leveraging resources through unique ways of collaboration. “The co-creation process also challenges the assumption that only the firm's aspirations matter. (…) Every participant in the experience network collaborates in value creation and competes in value extraction. This result in constant tension in the
  • evaluation, others were quite lucky and suffered less.There are many and different feelings on the way FinTechs will exit this situation, which as far as we understand has overall accelerated some strategic choices.First of all, there are many and different FinTechs in the market. What is critical is to look at the fundamentals of the business. All of them are about answering what society is going to look like in the future (attitudes, behaviors, habits, etc.), so that if we no longer need to go to retail stores anymore, why do we need some services based on this situation? This, again, underlines that banking is a people business (Omarini, 2015) and this requires a business to be resilient to become adaptive to consumer changes or moves into a different market where you can still apply the service because the society is not yet ready to shift somewhere else, which means the same business in different markets. Just think of the ongoing situation where the recent wave of people is rethinking and restructuring their finances, so that they have decided to switch rates to digital banks. In this scenario, the winners are those that have enough liquidity—or better still cash-rich—to buy good technology and invest in new directions, also taking the opportunity to use the pandemic to its advantage. This is especially true for payments that are going to be increasingly contactless. However, some more les
  • One more point has to do with the way a FinTech makes its revenues per customer, and net income is the figure to look out for here. This means that the more sources of revenues a company holds, the better it is for it. If we think of some of the best-known FinTechs, they gather their net income from interchange fees, ATM withdrawals, which can diminish during the pandemic, but gathering revenues from other sources such as lending, investing, or again from referring customers to third-party services, and earning commissions from these referrals.
    • hichamachir
      hichamachir on 13 Feb 21
       
      Pula can benefit so much from expanding its revenues streams. It lets the customers use the product or service in different ways which can't make them feel lazy to use a specific way.
  • The emergence of new technologies and players, along with a favorable regulatory framework (PSD2 Directive), is changing the banking industry. FinTechs and TechFins have allowed the introduction of new services and changed the way customers interact to satisfy their financial needs. The FinTech landscape is constantly evolving in the market. Different business value propositions are entering the financial services industry, moving from increasing the user's experience to developing a time to market framework for banks to innovate products, processes, and channels, increasing the cost efficiency and looking for a “partnering on order” to lighten the regulatory burdens for banks. The many businesses of banks are changing their value chains, and banks' business models should do the same accordingly. Strategists could no longer take their value chains as a given; choices have to be made on what needs to be protected and maintained, what abandoned and the new on coming to make banks evolve and become more resilient in doing their job. Banking is shifting significantly from a pipeline, vertical paradigm, to open banking business models where open innovation, modularity, and ecosystem-based bank's business model may become the ongoing mainstream and paradigm to follow and develop. Opportunities and threats for banks are many and new ones to re-gaining their role in the market throughout a re-intermediation process.
    • ghtazi
      ghtazi on 13 Feb 21
       
      FinTechs and TechFins have enabled new services to be launched and changed the way clients communicate to meet their financial needs. In the industry, the FinTech landscape is continuously changing.
  • They have brought to the traditional banking industry a wave of competition and broken pipeline value chains, unbundling them into different modules of products or services, which may be combined among themselves. These companies on the one hand and the BigTechs (Google, Facebook, Apple, Samsung, Alibaba, etc.) on the other have been forcing the industry to change, transform, and evolve in a set of new financial intermediation directions. Use of data and customer experience are both FinTechs' major assets and threats as well. On the one hand, they please the customers as individuals and introduce the paradigm of contextual banking. On the other, the two selling points are threatening both the incumbent players and regulators in different ways. For banks, it is even more urgent to react actively because their “no fee zone” is expanding, due to new regulations from the Consumer Financial Protection Bureaus (CFPB) and similar entities in different countries.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      Since the digitalization wave entered the banking industry, financial institutions has begun to move from a product/service standpoint to more semantic alternatives where suppliers are pushed by customer needs. This is because the customer-driven firms outclass the investor ones, and this necessitates an outside strategy.
kenza_abdelhaq

Private equity investment in leading mobile payments platform | responsAbility - 0 views

www.responsability.com/...ading-mobile-payments-platform

Fawry Egypt Services

shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • Fawry is the leading mobile payments platform in Egypt. Through a network of 65,000 agents, mostly small shop owners, Fawry allows 20 million customers to perform a variety of transactions such as utility bills payments, airtime top-ups or merchant transactions. Over the years, Fawry has created a platform connecting all clients’ channels of payments including bank accounts, credit cards and mobile wallets with any of the 23 banks connected to its platform. Fawry’s success has been to build acceptance and usage from clients as well as banks and merchants.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Fawry's services, operations, and network include small shop owners, a variety of transactions, and a platform connecting clients and more than 20 banks.
  • Speaking on behalf of Fawry, Ashraf Sabry, CEO, said: “Our efficient payment platform and network will enable us to provide financial services for sections of the population that have so far been underserved – at costs that will allow the model to be commercially sustainable. At the same, we aim to further spread cashless transaction in Egypt, thereby serving customers as well as commerce.”
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Fawry is targeting customers as well as commerce while focusing on providing financial services to the underserved. The company focuses on financial inclusion while maintaining a certain level of costs to have a commercially sustainable model.
  • kenza_abdelhaq on 13 Feb 21
     
    "Fawry is the leading mobile payments platform in Egypt. Through a network of 65,000 agents, mostly small shop owners, Fawry allows 20 million customers to perform a variety of transactions such as utility bills payments, airtime top-ups or merchant transactions. Over the years, Fawry has created a platform connecting all clients' channels of payments including bank accounts, credit cards and mobile wallets with any of the 23 banks connected to its platform. Fawry's success has been to build acceptance and usage from clients as well as banks and merchants."
mehdi-ezzaoui

​Belcash Technology Solutions PLC - 0 views

www.belcash.com

Fintech Africa payments

shared by mehdi-ezzaoui on 09 Feb 21 - No Cached
  • Over the last four years, our service has allowed the Ethiopian population to access the following services using their mobile phones: Health advice (HelloDoctor), Market access (HelloMarket / HelloGebeya), Labour market access, (HelloJobs / HelloSera), Legal advice (HelloLawyer / HelloTebeka), Mobile Trade service (HelloBroker/ HelloDelela).
    • kenzabenessalah
      kenzabenessalah on 09 Feb 21
       
      BelCash has given an opportunity to the Ethiopian population to conduct their usual services online. This leads to efficient, safe, and less time consuming daily affairs.
  • Belcash Technology Solutions PLC (BCTS) is a registered Value Added Service (VAS) provider legally operating in Ethiopia. BCTS has obtained its licenses from Ministry of ICT and with a signed agreement with Ethio Telecom to provide services to the Ethiopian market.
    • kenzabenessalah
      kenzabenessalah on 09 Feb 21
       
      This is important because it emphasizes the safety and legitimacy of the platform. With multiple services, BelCash must have a data protection regulation.
  • The HelloCash Network is the largest financial service network in Ethiopia with 9,900 Service outlets across the country. Currently, within HelloCash network there are over 1,500,000 HelloCash customers. The network is expected to grow to 20,000 service outlets (Agent Network) by end of 2020.  
nouhaila_zaki

My PAGA - transact mobile payments; send cash via mobile; pay bills via mobile. - 0 views

www.mypaga.com/...C48866E180618E0E570B5BE493B-s1

Paga Nigeria Overview

shared by nouhaila_zaki on 13 Feb 21 - No Cached
  • We are a team of passionate Africans determined to tackle what we consider a critical issue paramount to Africas development - the availability of financial services to all Africans. Paga was founded early 2009 on the simple belief that the ubiquity of mobile phones can be leveraged to bring financial services to all Africans. We aim to accomplish our mission by working in partnership with select Banks, Microfinance institutions, and all Mobile Network Operators. Innovation is at the core of our company - we strive to develop "appropriate technology" suited for the local markets where we operate. We also work hard to ensure our services are low cost and accessible via our agent network - in doing so we can strive towards universal access. Paga works on the most basic SMS enabled phone and on all mobile networks so customers have the liberty to have their Paga account available at their finger tips regardless of what phone or network they are using. For consumers, our core offering is a money transfer service - with Paga you can send money to anyone with a mobile phone. You can either use Paga by yourself (if you own a Paga account) or by going to any Paga Agent. We also offer several other products such as: buying/sending airtime credits, bill payments, and retail payments. For ultimate convenience we provide several channels for consumers to use Paga - SMS, Online, a mobile application, USSD, or IVR (automated line). Paga Merchant Services allows businesses to collect payment from all spectrums of the population - whether banked or not. By leveraging the Paga e-widget, businesses can integrate a world class online checkout process on their own websites. Businesses can also leverage our agent network to collect payment for goods and services or provide customers the convenience of paying via SMS or online at Pagas customer portal. Our current services are the beginning of a journey. Through our innovation lab "Paga labs" and in conjunction with our partners we will continue to develop and deliver valuable offerings to our customers. Together with our partners we will achieve our mission and bring financial services within reach of millions of Africans!
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is an introductory statement of the company Paga, its operations, its goals, its customers, its core offerings, and its innovation programs.
mehdi-ezzaoui

Pula: Insuretech Startup Closes $6M Series A Funding to Scale Up Business Across Africa - 1 views

thespiritedhub.com/artup-closes-6m-funding-africa

PULA FinTech Festival

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • Funding Pula: Insuretech Startup Closes $6M Series A Funding to Scale Up Business Across Africa 0 SharesShareTweetSharePin The African Insuretech service provider, Pula, has recently closed a US$6 million Series A funding round led by TLcom Capital and had participation from Women’s World Banking. It specializes in digital as well as agric insurance to derisk smallholder farmers across Africa. This new round of investment to the insuretech startup will be used to scale up operations in the company’s existing 13 markets across Africa. Pula has so far impacted over 4.3 million farmers on the continent and the new funding will help push its expansion into Asia to power resilience and profitability for Asian smallholder farmers. Pula was launched by Rose Goslinga and Thomas Njeru in 2015, to design and deliver innovative agricultural insurance and digital products to help smallholders farmers improve their farming practices, endure climate risks and bolster their incomes. This has become necessary because for smallholder farmers in emerging markets, the traditional method of calculating insurance through farm visits is often expensive, meaning they are often neglected from financial protection against climate risks.
  • mehdi-ezzaoui on 13 Feb 21
     
    This new round of investment to the insuretech startup will be used to scale up operations in the company's existing 13 markets across Africa. Pula has so far impacted over 4.3 million farmers on the continent and the new funding will help push its expansion into Asia to power resilience and profitability for Asian smallholder farmers.
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

NCA Sanctions MTN » National Communications Authority - 1 views

www.nca.org.gh/...nca-sanctions-mtn

MTN Regulation Africa Fintech

shared by hindelquarrouti on 12 Feb 21 - No Cached
  • The National Communications Authority (NCA) has sanctioned Mobile Network Operator (MNO), MTN Ghana for failing to comply with directives which were sent to them following some challenges with their network recently. In the directive, the Authority directed MTN to submit a report on the challenges within 24 hours of receipt of the directive among other directives. 
  • The National Communications Authority (NCA) has sanctioned Mobile Network Operator (MNO), MTN Ghana for failing to comply with directives which were sent to them following some challenges with their network recently.
  • hichamachir on 12 Feb 21
     
    This sanction shows that MTN needs to be careful with regulations. Any bad move can hurt the image of the company which can lead to some bad consequences like losing some important market share.
  • hindelquarrouti on 13 Feb 21
     
    For a company of its calibre, MTN should be very careful in this kind of situations since such "scandals" are not expected from a well-established company.
ghtazi

BelCash story - HelloEthio - 0 views

www.helloethio.com/belcash-story

technology Platform buisnesses

shared by ghtazi on 12 Feb 21 - No Cached
  • BCTS has successfully implemented its HelloCash mobile banking platform and 8 000 agents network with 6 local banks and 2 microfinance institutions, making it the largest financial network in the country.This achievement has gained recognition from the UN initiative for financial inclusion, which was substantiated by the visit of UN ambassador for financial inclusion, her Royal Majesty Queen Maxima of the Netherlands in May 2019.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      Being recognized f=by the UN for financial inclusion adds a lot of value to the company making it more secure to the eyes of its customers. This is important because it places the company in a higher standard in the technology industry.
  • With 17 strong through partnerships, across multiple sectors and an ownership structure in full compliance with the Ethiopian regulations, BelCash Payments-As-A-Platform model spurred numerous “HelloServices”. These services include airtime eTop-up, Pay-As-You-Go solar, Healthcare, eCommerce, Jobs, Entertainment, and many more, providing the Ethiopian population access to essential services through the HelloCash platform and agents network.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      Thanks to these services offered, belcash has reached more than 1.4 million customers, and made it as the largest financial network in Ethiopia
  • BelCash Technology Solutions Ltd. (BCTS) was established in Ethiopia in 2011, as a registered Value-Added Service (VAS) . It'main activity is to provides its digital technology platforms to businesses as a service (PaaS).
    • ghtazi
      ghtazi on 13 Feb 21
       
      belcash was established in Ethiopia in 2011, The key task is to provide organizations with their digital technology systems as a service.
sawsanenn

Visa partners with Paga for payments technology | FinTech Alliance - 0 views

fintech-alliance.com/...technology

Nigeria FinTech E-payments

shared by sawsanenn on 13 Feb 21 - No Cached
  • Paga account holders will now be able to transact on Visa’s global network. Both companies will work together to develop technology and aim to drive larger payments volumes for both companies. The partnership also reflects Visa’s priorities in Africa.
    • ghtazi
      ghtazi on 13 Feb 21
       
      with the partnership of VISA and Paga, paga's account holders will be able to make purchases across the worldwide Visa network. Both businesses will join their strengths and work together to improve technologies and strive to maximize payment volumes. The relationship represents the goals of Visa in Africa as well.
  • In Brief: Paga was founded in Lagos and scaled in West Africa. It has a multichannel network for 14mn customers in Nigeria. People can use the tool to transfer money, pay bills and buy things digitally through the mobile app or agents.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt does a good job in quickly introducing Paga and the partnership with Visa. The most important idea to extract is that thanks to the partnership with Visa, people can transfer money, pay bills and purchase digitally through the mobile app or agents.
  • Paga account holders will now be able to transact on Visa’s global network. Both companies will work together to develop technology and aim to drive larger payments volumes for both companies. The partnership also reflects Visa’s priorities in Africa.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this partnership with visa will allow paga's users to make more transactions and can attract visa's customers to use paga as well
sawsanenn

Visa, Nigeria's Paga Team For Global FinTech | PYMNTS.com - 0 views

www.pymnts.com/...sa-nigeria-paga-global-fintech

Nigeria FinTech E-payments

shared by sawsanenn on 13 Feb 21 - No Cached
  • “We are excited to partner with Visa, a leader in payments globally, as they are constantly building world-class solutions for consumers and businesses. Our goals are well-aligned. As we scale our wallet across emerging markets such as Nigeria, Mexico and Ethiopia, partnering with Visa to give both consumers and businesses, who have been underserved, access to Visa’s global network made sense to us,” the company said in a press release.
    • ghtazi
      ghtazi on 13 Feb 21
       
      I believe that this collaboration is a plus for both companies. It will help VISA to concur Africa and it will help Paga to reach new horizons.
  • Share Tweet Share Share Share EmailVisa is partnering with the Nigeria-based startup Paga to bring payments technology to Africa and abroad, according to reports on Monday (March 9).Paga has created a multi-channel network that enables more than 14 million Nigerian users to transfer money, make payments and shop digitally, either through its mobile app or via its 24,840 agents. The payments platform acts as a mobile wallet, giving users the power to electronically transfer money and make mobile payments.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it presents the user base of Paga, which amounts to 14 million Nigerians. The excerpt also briefly introduces the main services and products offered by the start-up.
  • Although Visa’s partnership with Paga doesn’t include a monetary investment, the collaboration aligns with the company’s strategy to expand across Africa and work with the continent’s top startups. The move is expected to drive larger payment volumes for both firms.“We want to digitize cash – that’s a strategic priority for us. We want to expand merchant access to payment acceptance and we want to drive financial inclusion,” said Otto Williams, head of strategic partnerships, FinTech and ventures for Visa in Africa. “Based on the partnership, we’re going to launch QR codes and NFC [payments] into the market in Nigeria – alternative ways of receiving payments than bringing out a physical card.”
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it introduces the partnership between Visa and Paga and what that entails for the latter. The collaboration is expected to be a first move towards an expansion of Paga in the African continent, and as a great opportunity to further advance with the financial inclusion mission of Paga.
  • ...1 more annotation...
  • The partnership gives Paga account holders the ability to transact on Visa’s global network, and will also see both companies work together on technology developments. The arrangement will bring new merchant options to Paga’s network.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt is important because it shows the good side of this partnership which will bring new options to both companies
mehdi-ezzaoui

SIMBA Payment App Launches Using Stellar Network - 1 views

www.globenewswire.com/...hes-Using-Stellar-Network.html

SimbaPay Kenya Stellar Network payments

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • SIMBA Pay is open source and designed for developers who wish to integrate blockchain-based payment systems. SIMBA Pay offers built-in support for a wide array of third-party technologies and services, including CoinBase and cold wallets. The ease-of-use for developers will accelerate the growth of the cryptocurrency industry and make integrations with traditional financial systems easier down the road. “We believe our technology stack provides a unique advantage for developers,” said Joel Neidig, CEO of SIMBA Chain. “SIMBA’s world-class developer tools have already made cloud-based dapps easier to create than ever and provide transparency and verification for complex digital workflows. It’s never been easier to jump into this exciting space, no matter where you are in your developer journey.” “We are excited to see SIMBA Chain, a Stellar Service Provider, launch their open source payment application to foster greater adoption of Stellar and end-user accessibility through lower fees as compared with traditional payment solutions,” said Boris Reznikov, Director of Business Development at the Stellar Development Foundation.
  • mehdi-ezzaoui on 13 Feb 21
     
    Simba pay app launches a new service using stellar network
mehdibella

Credit scoring the unbanked - alternative solutions used in global markets | Penser - 0 views

www.penser.co.uk/...lutions-used-in-global-markets

Jumo Fintech finance SouthAfrica

shared by mehdibella on 12 Feb 21 - No Cached
  • JUMO builds its credit profiles using behavioral data gathered from mobile wallets, cell phones and transaction data.
  • JUMO is a transaction and predictive technology platform that partners with mobile network operators and banks to offer customers microloans and access to savings and insurance products. They are currently active in six markets – Ghana, Tanzania, Kenya, Uganda, Zambia and Pakistan – with plans to soon launch in India, Bangladesh, Côte d’Ivoire and Nigeria. JUMO has helped disburse over $1.6 billion in funding to small and micro enterprises, and has helped connect over 15 million people to credit and savings services.
    • hindelquarrouti
      hindelquarrouti on 13 Feb 21
       
      Jumo is currently operating in different countries in Africa. It has been successful in funding small and micro enterprises, providing credit and saving services. Also, it collects behavioural data from transaction or even cell phones, this is very interesting as it contributes in creating financial identity.
  • JUMO builds its credit profiles using behavioral data gathered from mobile wallets, cell phones and transaction data.
  • ...4 more annotations...
  • JUMO works with a number of mobile network operators and financial service providers, including Airtel, MTN, Telenor, Ecobank, Barclays Africa among others.
    • mehdibella
      mehdibella on 13 Feb 21
       
      They are currently active in six markets (Ghana, Tanzania, Kenya, Uganda, Zambia and Pakistan) with plans to soon launch in India, Bangladesh, Côte d'Ivoire and Nigeria.
  • This creates a financial identity and credit rating for low-income individuals and enterprises, who can then access savings, loan and insurance products through a mobile interface.
    • mehdibella
      mehdibella on 13 Feb 21
       
      JUMO has helped disburse over $1.6 billion in funding to small and micro enterprises, and has helped connect over 15 million people to credit and savings services.
  • JUMO is a transaction and predictive technology platform that partners with mobile network operators and banks to offer customers microloans and access to savings and insurance products. They are currently active in six markets – Ghana, Tanzania, Kenya, Uganda, Zambia and Pakistan – with plans to soon launch in India, Bangladesh, Côte d’Ivoire and Nigeria. JUMO has helped disburse over $1.6 billion in funding to small and micro enterprises, and has helped connect over 15 million people to credit and savings services.
  • JUMO builds its credit profiles using behavioral data gathered from mobile wallets, cell phones and transaction data. This creates a financial identity and credit rating for low-income individuals and enterprises, who can then access savings, loan and insurance products through a mobile interface. JUMO works with a number of mobile network operators and financial service providers, including Airtel, MTN, Telenor, Ecobank, Barclays Africa among others.
  • chaimaa-rachid on 12 Feb 21
     
    It makes a monetary identity and a financial assessment for low-pay people and organizations, who would then be able to get to reserve funds, credits through mobile phone.
  • ...1 more comment...
  • hichamachir on 12 Feb 21
     
    JUMO is a very interesting company that offers many important services like micoloans and insurance products. I believe that this company is doing a great business because of its variety of important services.
  • hindelquarrouti on 13 Feb 21
     
    Jumo is currently operating in different countries in Africa. It has been successful in funding small and micro enterprises, providing credit and saving services. Also, it collects behavioural data from transaction or even cell phones, this is very interesting as it contributes in creating financial identity.
  • mohammed_ab on 13 Feb 21
     
    This article explains the procedures and technology used by JUMO in order to create a credit rating for its customers. This credit rating allows the company to know the amount of loan they can give to someone.
kaoutarchennoufi

Fawry - Crunchbase Company Profile & Funding - 1 views

www.crunchbase.com/...fawry

B2B B2C Grow Channels

shared by kaoutarchennoufi on 13 Feb 21 - No Cached
  • Fawry is a pioneering Electronic Payment Network, offering financial services to consumers and businesses
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Fawry is a business that offers services not only to customers but to businesses as well.
  • Fawry is a pioneering Electronic Payment Network, offering financial services to consumers and businesses through more than 65 thousand locations and a variety of channels. It offers a convenient and reliable way to pay bills and other services in multiple channels (online, using ATMs , mobile wallets and retail points)The company'snetwork of retailers includes small groceries, pharmacies and stationaries, and post-offices, all equipped with point-of-sale machines – the same ones used for credit card payments.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Fawry does not focus only focus on customers but it creates services geared toward other businesses as well. It has a large network with 65 thousands locations and many channels. selling to both consumers and businesses is a good strategy to grow faster, and increase market share.
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.
  • "WatchIT" Provides its Services Electronically through "FawryPay" - Fawry
  • 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.
  • ...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.
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
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