Fawry, an Egyptian FinTech platform specializing in electronic payments, has announced that it is expanding to the UAE by the end of 2019. Not stopping there, the company also harbors plans of launching operations in Sauri Arabia and Kuwait sometime next year.
It provides an exhaustive payments network that enables a range of financial services including the ability to pay bills electronically in a secure and reliable way. Aside from that, Fawry also serves as a payment gateway and e-commerce solution.
The company has so far done a commendable job by bringing financial inclusion to a large chunk of Egypt’s unbanked population. It accomplished that feat by extending its services to more than 65,000 locations over several different channels including mobile wallets, ATMs, internet, and retail points.
Mohammed Okasha says the company’s primary objective is to introduce its services to millions of Egyptians spread throughout the Arab world. However, he also acknowledged that the company doesn’t have any plans yet to further expand into the rest of Africa.
Fawry claims to have more than 20 million customers who collectively carry out more than 2.1 million transactions on the platform on a daily basis.