Egypt's e-biller Fawry plans UAE foray
Dubai, May 11, 2014
Fawry, the leading nationwide electronic bill presentment and payment (EBPP) platform in Egypt, has announced its plans to enter the UAE followed by other GCC markets as part of its expansion strategy.
The announcement comes ahead of the company’s participation in the 'Cards and Payment Middle East,' show where it will be presenting its Middle East success story to over 400 regional and international delegates.
The region’s largest smart card and payments show, 'Cards and Payment Middle East' will be held from May 13 to 14 in Dubai.
Fawry CEO Ashraf Sabry, who will be a key speaker at the event said: “Today billers, whether telephone, water and electricity companies, retail outlets or online portals are under pressure from more cognisant and connected Arab consumers who demand to have a choice of how and where they get, view and pay their bills."
"Fawry can support these entities by allowing them to meet their consumers at their preferred point of payment. We did this successfully in Egypt, and we can replicate this success throughout the region," he stated.
"Fawry is a bi-lingual Arabic-English platform that provides convenient and secure one-stop electronic bill payment services to the public, connecting consumers, merchants, governments and financial institutions on a consolidated gateway for the straight-through processing of electronic bill (‘e-bill’) presentment and payment through multiple payment channels, including online payments, mobile wallet and Point of Sale (POS) machines that are available 24/7," explained Sabry.
The payment, whether to purchase a ticket, pay for your telecommunications bills or make a charity donation is reflected on the biller system immediately in real-time, i.e. at the same moment that the payment is transacted and finalised, he added.
The Egyptian firm said it enhances the existing vendor billing and consumer payment experiences with its innovative e-billing and hassle-free bill management capabilities, using the most advanced payment and banking solutions and IT technologies in the world today.
The platform allows consumers from across the socio-economic strata in more than 300 cities and suburbs across Egypt to pay for their bills online, on mobile and at more than 40,000 points of presence across the nation, including 15 banks and 4200 ATMs; 1300 Egypt Post branches; 35000 retailers comprising pharmacies, supermarkets and convenience stores; as well as mobile and internet.
Currently, more than one million transactions are processed daily via Fawry, offering businesses and governments alike cost-efficient integration with the platform for real-time settlement of transactions and live access to billers’ accounts, the company said in its statement.
The platform operates with strict and robust security in place and in full compliance with ISO 27001 and PA DSS standards, it added.
“The main driver of Fawry’s growth is reach: first, we set out to cater to all customer segments, whether banked or un-banked and, second, we went on to acquire a large number of billers and banks. This way we ensured that a wide segment of the Egyptian population is using and benefiting from Fawry,” said Sabry.-TradeArabia News Service