GETTING conservative Egyptians to make the move online has proved to be a difficult and frustrating task for many companies, but Fawry, the country’s Electronic Bill Payment and Presentment (EBPP) network announced on Tuesday that it has seen over 400 000 customers in the past six months.
Fawry launched in March and hopes to make banking easier in Egypt, especially among the Internet savvy youth.
Mahmoud Reda, an investment banker and analyst in Egypt, told the Bikya Masr newspaper that the move towards online activities is growing in the country.
“The Tuesday report shows that these kinds of things (Internet bill payment services), which only a few years ago would have been unthinkable, are really making inroads into the country, so that is exciting,” said Reda.
According to a Fawry press statement, customers completed 500 000 transactions through their different networks, via banks directly, ATMs or bill payment and mobile top-up online.
“The huge customer response reflects Egyptians’ increasing trust and reliance on Fawry network channels to pay various bills,” the statement read.
“Customers have realised the benefits of using the Fawry network, which provides them with a modern, secure and convenient method to view and pay their bills through a single outlet, thereby saving time and effort.”
Customers paying their bills through the networks can eliminate costs and save time.
Ashraf Sabry, CEO of Fawry, said Fawry “are delighted at the growth in the number of people turning to Fawry to pay their bills. In fact, the number of Fawry network users is increasing monthly at a rate of over 100%. All of us at Fawry are pleased with this achievement, and expect even better growth as we continuously work on expanding the variety of bills and services that people can pay and access through our network”.
Fawry is currently signing deals with companies and institutions in various sectors while implementing its plans to expand the network and develop safe and convenient payment choices across Egypt.
JOSEPH MAYTON in Cairo, Egypt
