Fawry, the Egyptian e-payment gateway, generated approximately USD 700 million in non-cash transactions over 2021 through its “Fawry Accept” package of payment solutions as Egyptians increasingly turn toward electronic payments.
Fawry Accept offers two services for non-cash transactions, FawryPOS points of sale, and payment via the Internet through the Fawry electronic portal.
POS and online
Fawry’s POS devices, used by 150,000 retailers, accounted for approximately USD 381 million of the total amount generated, having jumped 232% YoY, the company said in a bourse statement. Transactions through the online gateway rose by 400% to nearly USD 318 million in 2021, it added.
The company’s online portal has registered more than 2.4 million daily active customers. “Digital payments are extremely important, given their role in promoting financial technology, as a key element to drive economic development,” said Ashraf Sabry, CEO of Fawry.
600 platforms
Accept Fawry can be used through several methods, including online payments through the electronic payment gateway service and can be used on websites, platforms or online applications such as Jumia, Uber and Netflix. The system is available across 600 platforms that allow for electronic payment via bank cards and advantage cards.
The company also offers a number of payment and installment plans through local banks.
Fawry Company for Banking Technology and Electronic Payments was established in 2008, and its main services include electronic bill payment, mobile phone charging, and other digital services. The company serves more than 35 million customers per month with an average of 3 million transactions executed per day through more than 250,000 agents and a banking network of 36 banks, as well as a mobile application.
Last summer, as part of its expansion into promising tech-related areas, Fawry acquired a stake in food delivery platform elmenus.
