The adoption of Fawry by retailers highlights the strong demand for simplified payment solutions for both banking and non-banking Egyptians and follows a recent event in March 2010 which saw hundreds of retailers from diverse retail segments in Egypt signing up to offer Fawry at their stores.
Through its availability at 700 clearly marked Fawry retail outlets, consumers can simply request their bill at the cashier for any of the supported services and be presented outstanding payment, without having a printed bill on hand as the POS machine displays the due amount.
Consumers can then pay in cash against the presented bill and receive an immediate receipt that their bill is paid and an SMS confirmation, eliminating the need for frustrating, sometimes costly and time consuming visits to pay for bills at the service provider’s sales or customer support centers.
“Fawry represents a dynamic shift from Egypt’s current bill presentment and payment model as it is the first true national electronic network that offers Egyptians a simple, cost effective and completely secure means of receiving and paying their bills. Never before has there been a viable and comprehensive means for any Egyptian to receive bills for regularly used services, pay for them through a single payment point and receive an immediate receipt against that payment. Additionally, the payment points were chosen from pharmacies, supermarkets and convenience stores where consumers regularly visit during their daily routine to buy frequently needed goods, making accessibility to Fawry easier,”
said Mohamed Okasha, Managing Director of Fawry Retail Division.
“The decision to integrate Fawry into existing POS machines versus other terminals was that these machines offered secure and reliable service while also supporting immediate printing of consumer receipts and use of bank cards for payment where the retailer can establish a relationship with any Fawry member banks. With the ongoing rollout of Fawry on POS machines and the addition of thousands of retailers each year, Egyptians will be able to benefit from the Fawry service at shops on just about any street corner in Egypt,” he added.
With 700 new retail outlets onboard and comprised of medium to large grocery stores and pharmacies, Fawry is expected to increase its service reach to over 3,000 outlets by the end of 2010 and 12,000 outlets by 2012. At its launch last December, Fawry had already secured the support of 10 major banks in Egypt to offer Fawry services on their different channels. Today, 4 of these banks (National Bank of Egypt, Bank of Alexadria, Banque Misr and Banque du Caire) offer live services on their bank ATMs which currently number 2,200 ATMs. As the remaining 6 member banks enable the service on their channels during 2010, Fawry will be available on more than 3,000 ATM machines in Egypt.
“The Fawry network was launched in December 2009, to enable Egyptians to conveniently view bills for commonly used goods and services and pay for them securely through a single, unified electronic network covering Egypt,” said Magda Habib, chief commercial officer at Fawry.
“Initially, the ability to view bills, pay for goods and services and receive an immediate receipt on the Fawry network was possible through the Fawry member banks and using existing bank payment channels like online banking, ATM machines, mobile banking, as well as call centers and through Integrated Voice Response (IVR) systems. Now, Egyptians can also benefit by using Fawry via point of sale machines at 700 retail stores exhibiting Fawry signage inside and outside their outlets across Egypt,” Magda added.
A major milestone for Fawry has been the activation of its mobile top-up service which gives retailers the ability to offer mobile line recharge facilities to all 3 operators; Etisalat, Mobinil and Vodafone, which is unique to Fawry. In addition to GSM bill payment and top-up, Fawry has recently added other utility bill payments for Telecom Egypt (fixed line), TE Data and Link DSL which will go live this month. More services will also be added to the Fawry network in the future to further simplify bill payments for additional utilities and regularly used services.
“The Fawry network offers limitless possibilities for the future in terms of bill presentment and payment in Egypt thanks to the tremendous investment made in its technology as well as its flexibility in being able to support virtually any payment for almost any good or service,” said Ashraf Sabry, CEO of Fawry. “To illustrate further on the possibilities for future applications, Fawry could be used to support bill payment for anything from vehicle and medical insurance, utilities and government services, to making payments towards monthly premium satellite TV subscriptions.“
Thursday, April 8- 2010 @ 15:09 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.