Fawry, one of Egypt’s leading e-payments services providers, is set to provide money transfer services soon, CEO of Fawry Ashraf Sabry said on Wednesday.
Sabry made his remarks during a press conference the company held to launch “Fawry Business”, offering innovative solutions for businesses of all types and sizes, mainly targeting small and medium-sized enterprises (SMEs).
Sabry noted that Fawry is currently in talks with a wide range of companies in the local market in this respect. He also unveiled that the company has plans to expand in the Arab region markets, chiefly the UAE and Saudi markets through creating partnerships with already-existing companies that already provide fintech and e-payment services in both markets.
In this regard, Sabry affirmed that Fawry will not establish or open offices of Fawry in these markets.
On the newly-launched “Fawry Business”, Sabry stated that the platform aims to streamline operations, enhance efficiency, and alleviate daily pressures. This initiative aligns with Fawry’s ongoing commitment to providing digital solutions that simplify financial processes and equip businesses with the tools they need to succeed. Fawry’s role as a trusted partner in Egypt’s business ecosystem reflects its strategy to support digital transformation and financial inclusion in the country.
Fawry Business offers a set of solutions for both SMEs and large enterprises across various sectors, including manufacturing, healthcare, education, restaurants, retail, logistics, real estate, and facilities management. The platform features an HR system that simplifies employee management by enabling attendance tracking through geolocation, overtime and payroll calculations, and streamlined processing of employee requests. These tools provide businesses with reliable and effective solutions to support their daily operations and achieve long-term success.
The platform also enables users to manage both cash and electronic receivables, offering a comprehensive view of income streams. It provides multiple mechanisms for companies to settle their obligations electronically using the Fawry Corporate Card, developed in collaboration with Banque Misr, with built-in spending controls. Companies can monitor payments in real-time, and thanks to the system’s ability to track receivables and payments, businesses can efficiently manage their cash flows. By recording transactions electronically, Fawry can assess customers’ creditworthiness and provide financing solutions while monitoring fund usage.
Additionally, the Fawry Daily system allows companies to invest their receivables instantly to maximize returns on revenue.
Fawry Business also offers diverse commercial enablement solutions, including accepting all types of payments through integrated payment systems, cashier system integration with Fawry POS machines, and online payment solutions such as payment gateways, payment links, and in-store payment options like contactless payments. This includes the “Tap N Pay” application, Egypt’s first locally developed Soft POS solution, fully created by Fawry, enabling merchants to accept payments securely and efficiently using their mobile phones without additional hardware.
To provide innovative money management solutions, Fawry Business offers cash collection services through Fawry Plus branches and allows deposits at any time throughout the week via a network of over 300 locations across Egypt, with funds transferred to bank accounts by the next business day. Additionally, the platform introduces an innovative investment fund leveraging fintech, enabling companies to invest working capital and earn daily returns of up to 23% annually.
Fawry Business also provides a comprehensive suite of integrated services for businesses, including a financing system that offers loans with fast and flexible approval processes, simplified application procedures, and customizable repayment plans tailored to diverse needs. This underscores Fawry’s strategy to support economic growth, financial inclusion, and innovation in Egypt, while contributing to the country’s digital transformation agenda.
Sabry asserted that Fawry Business solutions align with the needs of local companies, Fawry has invested in prominent Egyptian firms such as Codezone, VCFO, and Dirac. These investments enable Fawry to leverage local expertise, enhancing its ability to develop solutions that meet and exceed entrepreneurs’ expectations, helping them manage their businesses with flexibility and efficiency. Through these investments, Fawry continues to play a leading role in driving technological advancement and empowering businesses, solidifying its position as a key driver of innovation and growth in Egypt’s fintech and business solutions sector.
