Fawry and cashU forge alliance
Cairo, January 25, 2011
Fawry, a leading electronic bill payment and presentment network in Egypt, and cashU, the region’s first prepaid online payment gateway, have joined hands to offer online shoppers a variety of safe and convenient payment options.
The alliance between Fawry and cashU will allow cashU customers the opportunity to top up their accounts using the extensive network of Fawry covering post offices and retail outlets.
The tie-up also makes Fawry the official payment service in Egypt for cashU, said a senior official.
To celebrate this joint initiative, cashU is offering their first 1,000 customers who use Fawry services to fund their account a free $5 cashU credit that will be added automatically to their account.
Ashraf Sabry, CEO of Fawry, said: 'In line with our commitment to support the growth of e-commerce in Egypt, we are happy to partner with a pioneering Internet payment company like cashU.'
'Fawry’s reach and reliability combined with cashU’s technological expertise offer customers the perfect online payment option,' he remarked.
'Our alliance will provide cashU customers the opportunity to top up accounts easily and quickly using Fawry network. Further, it will encourage people to shop online frequently with the knowledge that it is safe and also provides a hassle-free shopping experience.'
'In fact, more and more people are using the Fawry network than ever before as it provides payment solutions that are secure, convenient and simple to understand,' he noted.
Martin Waldenstrom, CEO of cashU, said: 'With e-commerce expected to grow between 13-16 per cent worldwide in 2011, Fawry and cashU are happy to join hands to make online shopping even more convenient and safe.'
'By partnering with Fawry, we have provided our customers a unique method to top up their accounts that is hassle-free and quite safe. The Fawry service also offers more flexibility, round-the-clock availability and a wide choice of options to top up their accounts,' he added.
A cashU account holder uses funds in his account to shop online through the cashU portal, which gives access to more than 4,500 merchants in over 35 countries.
At present there are more than 350,000 users of cashU in Egypt, who shop online for a variety of services and products including online gaming, communications, IT services, web hosting and design, as well as those shopping for a range of merchandise.
Now, for the first time, cashU customers in Egypt are being offered the first direct top-up method through the Fawry network, said Waldenstrom.
They can use the Fawry service to top up their accounts and then use these funds to shop online, he added.-TradeArabia News Service