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Fawry extends electronic retail point network

Cairo, April 8, 2010

Fawry, Egypt’s leading electronic bill presentment and payment (EBPP) network, has added 700 bill payment and mobile top-up points at various retail outlets across Cairo and Alexandria.

This is in addition to the existing service through Fawry member banks, a statement said.

The adoption of Fawry by retailers highlights the strong demand for simplified payment solutions for both banking and non-banking Egyptians and follows a recent event in March 2010 which saw hundreds of retailers from diverse retail segments in Egypt signing up to offer Fawry at their stores.

Through its availability at 700 Fawry retail outlets, consumers can simply request their bill at the cashier for any of the supported services and be presented outstanding payment, without having a printed bill on hand as the POS machine displays the due amount.

Consumers can then pay in cash against the presented bill and receive an immediate receipt that their bill is paid and an SMS confirmation, eliminating the need for visits to pay for bills at the service provider’s sales or customer support centres.

“Fawry represents a dynamic shift from Egypt’s current bill presentment and payment model as it is the first true national electronic network that offers Egyptians a simple, cost effective and completely secure means of receiving and paying their bills,” said Mohamed Okasha, managing director of Fawry retail division.

“Never before has there been a viable and comprehensive means for any Egyptian to receive bills for regularly used services, pay for them through a single payment point and receive an immediate receipt against that payment,” he added.

“Additionally, the payment points were chosen from pharmacies, supermarkets and convenience stores where consumers regularly visit during their daily routine to buy frequently needed goods, making accessibility to Fawry easier.”

“The decision to integrate Fawry into existing POS machines versus other terminals was that these machines offered secure and reliable service while also supporting immediate printing of consumer receipts and use of bank cards for payment where the retailer can establish a relationship with any Fawry member banks,” Okasha continued.

“With the ongoing rollout of Fawry on POS machines and the addition of thousands of retailers each year, Egyptians will be able to benefit from the Fawry service at shops on just about any street corner in Egypt.”

With 700 new retail outlets onboard and comprised of medium to large grocery stores and pharmacies, Fawry is expected to increase its service reach to over 3,000 outlets by the end of 2010 and 12,000 outlets by 2012, the statement said.

At its launch last December, Fawry had already secured the support of 10 major banks in Egypt to offer Fawry services on their different channels. Today, four of these banks offer live services on their bank ATMs which currently number 2,200 ATMs.

As the remaining six member banks enable the service on their channels during 2010, Fawry will be available on more than 3,000 ATM machines in Egypt.

“The Fawry network was launched in December 2009, to enable Egyptians to conveniently view bills for commonly used goods and services and pay for them securely through a single, unified electronic network covering Egypt,” said Magda Habib, chief commercial officer at Fawry.

“Initially, the ability to view bills, pay for goods and services and receive an immediate receipt on the Fawry network was possible through the Fawry member banks and using existing bank payment channels like online banking, ATM machines, mobile banking, as well as call centers and through integrated voice response (IVR) systems,” he added.

“Now, Egyptians can also benefit by using Fawry via point of sale machines at 700 retail stores exhibiting Fawry signage inside and outside their outlets across Egypt,” Habib concluded. – TradeArabia News Service




Tags: Cairo | ATM | POS | Electronic payment | Fawry | Retail point network |

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