Fawry Eyes to Provide E-Payments Services Abroad Egypt
Fawry Electronic Bill Service is targeting to provide its services abroad Egypt by the end of this year.
Eng. Ashraf Sabry, CEO of Fawry, said Fawry is currently discussing the best country for providing its services, pointing out that it differentiates between four countries including Saudi Arabia, United Arab Emirates (UAE), Qatar and Jordan.
Sabry added to Amwal Al Ghad that these countries have obtained the agreement of Broad of Directors in order to expand, excluding to go to one of the African countries within the current period due to lack in infrastructure which helps the expansion.
Sabry has noted the initial researches for the foreign markets revealed that there is no similar technologies providing from Fawry which ensures the success in case of applying it in any market.
He has emphasized that the offered technology from Fawry has been fully developed locally.
The volume of transactions and e-payments via Fawry are around EGP 330 million monthly within the first half of 2013.
Sabry has explained that the volume of transactions via Fawry reached EGP 11 million daily within the current period, noting that the number of daily transactions via Fawry are about EGP 1.2 million.
It is worth mentioning that the total number of payment points affiliated to the company reached around 32.000 points spreading across the country stressing it is aimed at increasing the services provided through their networks and amending the technological infrastructure to allow for adding new services on the network.
Sabry said Fawry is targeting to expand the number of e-payment points to reach 50.000 points by the end of this year depending on the International Finance Corporation (IFC) investments worth $ 6 million which pumped in the company by the beginning of 2013.
IFC has pumped $ 6 million in order to invest in Fawry capturing the IFC’s share which amounted at 18% from fawry’s shares.
Fawry began work paid up capital of EGP $ 77 million 75% of which is owned by institutions and Egyptian banks such as Amlak Finance and the Bank of Alexandria ,the Development Fund for Information Technology ,Arab African International Bank ,Raya Holding and HSBC and the rate cash reached EGP 87 million beginning of 2012.
The company launched in December 2009 with the approval of the Central Bank of Egypt (CBE), Fawry makes the Egyptian to receive their bills in comfortable way and paying securely through more than 25.000 payment point, Fawry is available in banks such as banks’ branches, Automated Teller Machine (ATM), Electronic Banking, the retailers which are bearing clear markers as well as post offices.
