Fawry To Collect 32.000 Payment Points Of Allianz Egypt Premiums

Fawry Electronic Bill Service will be starting to activate collection services through the collection points of the company which spreading in the pharmacies ,supermarkets and ATMs.

Eng. Ashraf Sabry, CEO of Fawry, said Fawry has contracted with Allianz Egypt  in order to provide premium collection services for its customers via payment points of Fawry, pointing out that the financial sectors is one of the most important parties which his company is focusing on to provide e-services within the coming period.

He added to Amwal Al  Ghad that his company is contracted with Misr Life Insurance company so as to collect premiums, asserting that his company seeks to cooperate with other companies operating in the market and which affected with the contract of  the rival companies to accept the use of service.

Fawry is planning to launch 200-300 “Sophisticated”automatic teller machine (ATM) by the end of this year in order to provide more specialized payment services with the International Finance Corporation (IFC) investments worth about $ 6 million that pumped in the company in the beginning of the current year.

 Sabry said the new (ATM) will be deployed across the country within the six coming months, noting that the new machinery provides ticketing services for travel and others.

The total volume of transactions and electronic payments via Fawry network reached about EGP 330 million monthly during the first half of this year.

Sabry has emphasized that the total volume of transactions reached EGP 11 million daily within the current period, pointing out that the number of daily transactions via Fawry are about 1.2 million, as well as 750.000 paid up.

He added 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.

Allianz Egypt acquires a market share in the General Insurance amounting to about 4%, ranked fifth across public companies and property, while Allianz Egypt for Life Insurance seizes 22% market share ranked second between Life Insurance Company, the total number of customers within 2012 of the General Insurance Company reached 18.618 thousand clients  compared to 26.586 thousand clients of Life Insurance company with total assets up EGP 3.3 billion.