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Editor in Chief Mohamed Wadie

Fawry Wins Citi MENA Award for Cash Services in Egypt


Wed 23 Oct 2019 | 10:18 PM
shawar ibrahim

Fawry the Egyptian Leading Fin-Tech Company Won the Citi MENA Fintech Challenge in digitizing cash collections in Egypt.

Citi announced today the winners of the MENA Fintech Challenge. Fawry, the leading Egyptian FinTech won in digitizing cash collections in Egypt.

Fawry is the leading financial Platform in Egypt, offering financial services and E- payment solutions to both consumers and businesses. Fawry offers a convenient reliable and secure way to pay bills and other services, through different channels (online, using ATMs, mobile wallets) and thousands of service points all around Egypt.

The company Serves More than 23 Million Egyptians on monthly basis, with more than 2.5 million transactions daily for over 500 Services including telecommunication bills, tickets and tourism, online payments, various utilities, insurance, education fees, donations, financial payments and banks, subscriptions and ads, and renewingcar license, through more than 110,000 service points around Egypt with 30+ major banks , more than 2500 post office branches , Mobile wallets in 23 banks plus 110,000 retailers and Fawry plus locations around Egypt and last but not least "myFawry" online Portal and Application .

Fawry services for businesses include collection services, customer acquisition, electronic cash, payment facilitation, and business-to-business collection centers.

Fawry easy, secure and efficient winning solution for digitizing cash collection in the Citi MENA Fintech Challenge offers a single platform that provides bill payment service through different channel types (POS / Mobile application) in all Fawry Service points, along with other benefits for Citi and its Corporates like the E- ordering system for FMCG’s and white label technology for regional expansion.

“We called FinTechs with relevant innovative solutions, ranging from existing enterprises to early stage start-ups, to participate in this challenge. This challenge was an important milestone in our quest to uncover innovative solutions for our clients”, said Emre Karter, Treasury and Trade Solutions Head, MENAPT, Citi. “By offering the FinTech community the opportunity to showcase their ideas, we hope to contribute to the development and growth of FinTech companies in the region.’’

“it’s a great pleasure to work with Citi bank in Egypt, winning Citi MENA Fintech Challenge in digitizing cash collections in Egypt encourages us for expanding regionally with big partners such as Citi Bank” Mohamed Okasha, Managing Director, Fawry for banking and Financial Technology services “this is another step in our journey to come up with more innovative business solutions in the Fintech industry