Looking to align Egypt with international standards, Fawry negotiates with 12 banks to allow Egyptians to pay for their bills using their mobile phones.
It looks like Egyptians will be able to start paying bills using their mobile phones, as CEO of electronic payments company Fawry announces they have signed contracts with 12 banks operating in the domestic market.
Talking with Daily News Egypt, the CEO of Fawry, Ashraf Sabry, announced that the company has already begun launching the service with a number of banks, but without mentioning any names, claiming that other banks are also adopting their services.
According to Sabry, the company’s goal is to reach consumers across the country to support the government’s efforts to promote a cashless system, as well as facilitating payment of government fees for citizens.
Currently, Fawry facilitates 1.5-1.8 million transactions per day, providing over 100 e-payment services in cooperation with banks allowing citizens to pay for everything from electricity and water bills to insurance and car licence fees electronically.