Fawry Says EGP 330 Mln Transactions On Its Network Monthly

The total volume of transactions and e-payments via Fawry Electronic Bill Service are about EGP 330 million monthly within the first half of 2013.

Eng. Ashraf Sabry, CEO of Fawry, said the volume of transactions on the network reached EGP 11 million daily during the current period, pointing out that the number of daily transactions on the network are about 1.2 million, in addition 750.000 payment.

Sabry added to Amwal Al Ghad  the number of the payment points affiliated to Fawry reached around 32.000 points across the worldwide, asserting that it eyes to increase the provided services via its network and amend the technological infrastructure.

Sabry has emphasized that Fawry aims to expand the payment points in order to reach 50.000 points by the end of this year, depending on International Finance Corporation (IFC) worth $ 6 million that pumped in the company in the beginning of 2013.

IFC has pumped $ 6 million in the earlier of this year to invest in Fawry in Egypt capturing IFC’s share estimated at 18% of the company’s share.

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.