Fawry To Launch 300 ATMs By IFC Investments End-June

Fawry Electronic Bill Service 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.

Eng. Ashraf Sabry, CEO of Fawry, 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.