Fawry achieves LE11B in non-cash transactions in 2021



Sun, 30 Jan 2022 - 11:50 GMT


Sun, 30 Jan 2022 - 11:50 GMT

Photo courtesy of Fawry's twitter account

Photo courtesy of Fawry's twitter account

CAIRO - 30 January 2022: Fawry for electronic payments achieved a volume of non-cash transactions amounting to about LE 11 billion during 2021, through the comprehensive “Accept Fawry” package of electronic payment solutions.


“Accept Fawry” offers two services for non-cash transactions, the first is “FawryPOS” points of sale, and the second is electronic payment via the Internet through the Fawry electronic portal.


The company clarified in a filing to the Egyptian Exchange (EGX), that the value of transactions through “FawryPOS” points of sale grew by 232 percent by the end of 2021 on an annual basis, to reach about LE 6 billion. 


With regard to electronic payment transactions via the Internet through the Fawry electronic portal, the value of financial transactions reached nearly LE 5 billion by the end of 2021, with an annual increase of 400 percent.


“Digital payments are extremely important, given their role in promoting financial technology, as a key element to drive economic development,” said Ashraf Sabry, CEO of Fawry.


Fawry's online portal has registered more than 2.4 million daily active customers, stopping what was stated in the statement.


Fawry provides comprehensive payment solutions through “Accept Fawry” services to customers through several methods such as online payment through the electronic payment gateway service.


It can be used when logging in on websites, platforms or online applications such as Jumia, Uber, Netflix and other lists that include more than 600 platforms and applications of platforms that allow electronic payment via bank credit cards as well as advantage cards.


Fawry also offers a variety of payment and installment options by cooperating with more than 6 different banks.


Fawry Company for Banking Technology and Electronic Payments was established in 2008, and Fawry's main services include electronic bill payment, mobile phone charging, and other digital services.


The company serves more than 35 million customers per month with an average of 3 million transactions executed per day through more than 250,000 agents and a banking network of 36 banks, as well as a mobile application.




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