Fawry Archives - جريدة الاخبارية

Fawry and Wadi Degla Partner to Accelerate Digital Transformation in Egypt’s Real Estate Market

Posted on نوفمبر 4, 2025نوفمبر 4, 2025 by doha

Fawry, Egypt’s leading fintech company, and Wadi Degla Developments have signed

a strategic partnership to deliver integrated digital payment solutions for Wadi Degla

customers through Fawry’s online payment gateway and POS network. This collaboration

marks a key step in supporting digital transformation in Egypt’s real estate sector and

enhancing the overall customer experience

Streamlined Digital Payments for Wadi Degla Customers

The partnership aims to simplify and accelerate all payment processes across Wadi Degla’s diverse

real estate portfolio By leveraging Fawry’s secure and reliable digital payment solutions, customers

can enjoy faster, safer transactions, aligning with Egypt’s national strategy for digitizing the real estate sector

Enhancing Customer Experience and Smart, Sustainable Communities

Beyond traditional payment services, the collaboration will introduce innovative value-added

services, including the Fawry Business Corporate Card and digital loyalty programs. These tools

bridge the gap between financial technology and real estate, supporting Wadi Degla’s vision to

build smart and sustainable communities while creating a fully integrated digital ecosystem

Executive Insights on the Strategic Partnership

Heba El Awady, Chief Business Officer at Fawry, stated

This partnership represents a major milestone in driving digital transformation within Egypt’s real

estate sector. At Fawry, we are committed to providing developers with modern, integrated digital

payment solutions that meet the growing demand for digitization. Our collaboration with Wadi Degla

showcases how technology and real estate can come together to enhance operational efficiency and

deliver tangible value to customers

Raymond Ahdy, CEO of Wadi Degla Developments, added

“This partnership reflects the increasing adoption of financial technology in Egypt, where over 76% of

young consumers prefer digital transactions By embracing innovative digital payment solutions, we

enhance operational efficiency and advance our mission to build more connected, sustainable communities

. This collaboration is a central element of our broader digital transformation strategy, aimed at creating

added economic value and superior experiences for our customers

Supporting Egypt’s Vision 2030 Through Digital Innovation

The partnership between Fawry and Wadi Degla Developments reinforces their shared

commitment to enhancing operational efficiency and driving digital transformation in line

with Egypt’s Vision 2030 By combining Wadi Degla’s real estate expertise with Fawry’s advanced

FinTech solutions, the collaboration builds an integrated digital ecosystem that improves sector

efficiency, strengthens customer trust, and promotes a cashless, sustainable economy

Fawry Enables Apple Pay for Egyptian Customers with Banque Misr Collaboration

Posted on أكتوبر 29, 2025أكتوبر 29, 2025 by doha

Fawry, Egypt’s leading fintech company, today announced the launch of Apple Pay

for its customers in collaboration with Banque Misr This partnership introduces a safer

more secure, and private way to pay using iPhone and Apple Watch, allowing customers

to avoid handing their payment cards to others, touching physical buttons, or handling cash

Seamless and Contactless Payments

With Apple Pay, customers can simply hold their iPhone or Apple Watch near a contactless

payment terminal to complete purchases. Each transaction is secure, authenticated with Face

ID, Touch ID, or a device passcode, along with a one-time dynamic security code

Apple Pay is widely accepted in grocery stores, pharmacies, restaurants, coffee shops, taxis

retail outlets, and many other locations, making it a convenient payment solution for everyday

purchases in Egypt

Fast Payments Online and in Apps

Fawry Customers can also use Apple Pay on iPhone, iPad, and Mac to make faster and more

convenient purchases in apps or on the web via Safari, without repeatedly entering card

details, shipping, or billing information The service simplifies payments for food delivery

grocery shopping, online shopping, transportation, and parking, and can even be used for

in-app purchases on Apple Watch

Advanced Security and Privacy

Apple Pay prioritizes security and privacy When using a credit or debit card with Apple Pay

actual card numbers are never stored on the device or Apple servers Instead, a unique Device

Account Number is created, encrypted, and securely stored in the Secure Element, an industry

certified chip that safely keeps payment information on the device

Easy Setup and Rewards

Fawry Setting up Apple Pay is quick and simple Customers can

Open the Wallet app on their iPhone

Tap the + button

Follow the instructions to add their myFawry Yellow Card

Once the card is added, customers can start using Apple Pay immediately across all

compatible devices, including iPhone, Apple Watch, iPad, and Mac Customers continue

to enjoy all rewards and benefits offered by the myFawry Yellow Card

Fawry and CDS Solutions Join Forces to Deliver Seamless Payment Integration for Odoo in Egypt

Posted on سبتمبر 8, 2025 by doha

In a strategic move reinforcing its leadership in Egypt’s digital payments sector, Fawry

the country’s foremost fintech company, has announced a new partnership with CDS Solutions

the certified Golden Partner of Odoo in Egypt This collaboration aims to seamlessly integrate Fawry’s

point-of-sale (POS) systems with Odoo’s cloud-based business management platform, enhancing digital

transformation and operational efficiency for Egyptian businesses

Seamless Integration of Payment Solutions with Odoo Platform

The partnership enables merchants and businesses ranging from medium-sized enterprises

to large corporations to manage payment transactions and generate financial reports smoothly

within the Odoo system Fawry will provide integrated payment acceptance services directly within

Odoo’s platform, while CDS Solutions will offer technical support and act as the integration facilitator

This ensures a reliable and user-friendly payment experience for Odoo clients across all Egyptian governorates

Leadership Insights: Empowering Egypt’s Digital Economy

Bassem Lotfy, Head of Business Development at Fawry, highlighted the significance of the partnership

This collaboration marks a key milestone in our journey, enabling us to integrate our innovative payment

solutions with a globally recognized platform like Odoo through CDS Solutions This integration not only

streamlines financial operations but also fosters growth for thousands of Egyptian businesses

He added Our commitment is to deliver comprehensive digital payment solutions that support Egypt’s Vision

2030 by empowering merchants and consumers with secure, flexible financial services

Echoing this, Eng. Ramadan Khalil, Co-Founder and CEO of CDS Solutions, stated

“With deep expertise in Odoo solutions for retail, food & beverage, and hospitality sectors

CDS has built a proven track record with leading brands in Egypt. Partnering with Fawry, the leader

in digital payments, enables us to offer clients fully integrated and secure payment systems within Odoo

enhancing their operational agility and competitive advantage

Driving Digital Transformation and Market Competitiveness in Egypt

This strategic alliance is part of Fawry’s broader vision to drive digital transformation in Egypt

through partnerships with leading global platforms like Odoo By delivering fully integrated

electronic payment solutions, Fawry empowers companies to boost operational efficiency

and competitiveness in a fast-evolving market This initiative reaffirms Fawry’s commitment

to building a comprehensive digital ecosystem that supports diverse sectors and simplifies

financial and commercial operations for businesses of all sizes

Fawry Reports Strong 1Q2025 Results with Significant Revenue and Profit Growth

Posted on مايو 15, 2025 by maryem

15 Fawry (FWRY.CA on the Egyptian Exchange), Egypt’s leading fintech company,

.announced today its consolidated financial results for the quarter ending 31 March 2025.

The Company reported revenues of EGP 1,794.8 million in 1Q2025, marking a robust 65.1% year-on-year (y-o-y) increase

This strong top-line performance was fueled by the expansion and diversification of Fawry’s business offerings.

Combined with effective cost control,

this led to solid profitability margins. Net profit for the quarter reached EGP 605.4 million,

reflecting an impressive 97.1% y-o-y increase and a net profit margin (NPM) of 33.7%.

The results highlight Fawry’s ability to scale efficiently while sustaining profitability .

Fawry Drives Growth Across Core Segments, Led by Financial Services

Eng. Ashraf Sabry, Chief Executive Officer of Fawry, commented:
“I am pleased to report that Fawry has started 2025 on a strong footing,

delivering continued operational and financial growth in the first quarter,

while making significant strides in advancing our long-term value creation strategy.”

Financial Services emerged as the leading growth driver, contributing 40% of the company’s

overall top-line expansion with an exceptional 164.2% increase y-o-y. Fawry’s Banking Services segment

—its second-largest revenue contributor—also recorded solid growth, up 55.9% y-o-y. Meanwhile

, Supply Chain Solutions posted a 35.3% y-o-y rise in revenues, demonstrating Fawry’s strategic evolution into a comprehensive ecosystem offering a broad range of value-added services.

The Alternative Digital Payments segment sustained healthy momentum, growing 30.2% y-o-y,

and continued to serve as the backbone of Fawry’s interconnected digital platform.

Fawry Focuses on Expanding Digital Services and Operational Efficiency

Sabry added that a key driver of continued growth has been Fawry’s strategic focus on expanding its digital service

offerings, enabling consumers to meet everyday financial needs and helping businesses grow

more effectively via integrated platforms. Simultaneously, Fawry has made targeted investments

to streamline internal operations, enhancing its ability to serve clients with increased agility, efficiency, and precision.

A major strategic focus area is the monetization of Fawry’s proprietary technology,

which saw a remarkable 125% y-o-y increase in technology-related revenues.

This growth underscores the success of Fawry’s ongoing efforts to commercialize its technology stack,

which is set to become a critical revenue engine in the years ahead.

On the consumer front, the myFawry app and Prepaid Yellow Card continue to function

as a unified financial hub, offering bill payments, promotional offers, BNPL solutions,

medical insurance, and access to Fawry’s Money Market Fund.

Annualized throughput on myFawry surged by 117.5% to EGP 27.4 billion.

The BNPL loan portfolio exceeded EGP 1.3 billion as of 1Q2025, while the NAV

of the Money Market Fund surpassed EGP 1.8 billion, reinforcing myFawry’s positioning

as a next-generation neo-banking platform.

On the enterprise side, Fawry continued to enhance its Fawry Business platform,

tailored for SMEs and corporates

. Beyond payroll cards and acceptance solutions, Fawry introduced corporate cards and supplier payment tools,

empowering businesses with better expense control and real-time cash flow visibility.

These enhancements reflect Fawry’s growing focus on embedded financial services that

enable operational efficiency and financial agility.

Fawry has also embedded working capital financing directly into the payment journey,

offering seamless access to credit at the transaction point. This approach minimizes friction,

improves liquidity for merchants, and aligns with Fawry’s mission to build an inclusive,

digitally empowered business ecosystem.

Fawry is advancing its strategy to leverage big data and artificial intelligence acros

s key operational areas including dynamic customer engagement, fraud detection,

credit scoring, and code generation.

These initiatives are designed to deliver more personalized user experiences,

drive data-informed decisions, and enhance productivity throughout the organization.

A major innovation milestone was achieved with Fawry’s in-house developed Soft POS solution,

Tap N Pay, receiving MPOC certification. Fawry is now the first company in the MENA

region to secure both CPOC and MPOC certifications, and the 10th globally to achieve MPOC.

Tap N Pay is the first fully Egyptian-built Soft POS platform,

with full copyright ownership retained by Fawry.

“These achievements are a testament to our unwavering focus on innovation and our commitment to

meeting the diverse needs of our customers,” concluded Sabry.

“Our strong performance in 1Q2025 underscores our ability to execute on strategic priorities

while continuing to expand offerings, improve customer experience, and lead the digital transformation

of financial services in Egypt. Looking ahead, Fawry remains firmly committed to delivering sustainable

growth and long-term value for all stakeholders, while playing an active role in the development of Egypt’s

financial sector and broader digital economy.”

Fawry Joins Forces with Microsoft to Drive Digital Transformation for Egyptian SMEs Through Fawry Business

Posted on مايو 4, 2025 by maryem

4 Fawry, Egypt’s leading Fintech company, has announced a collaboration with Microsoft to drive digital transformation for small and medium-sized enterprises (SMEs) in Egypt by integrating Microsoft 365 (M365) solutions with Fawry Business service products. This collaboration is set to revolutionize the SME landscape by offering an integrated suite of digital and financial solutions, enhancing efficiency and supporting business growth.

Fawry Joins Forces with Microsoft to Drive Digital Transformation for Egyptian SMEs Through Fawry Business

Building on its commitment to empowering businesses, Fawry continues to deliver cutting-edge solutions that simplify operations, boost efficiency, and alleviate daily business challenges. The integration of Microsoft 365 provides essential productivity tools, while Fawry’s financial services offer seamless payroll management, medical insurance solutions, efficient POS transactions, cash collection services, and investment opportunities through the Fawry Yawmy Fund.

To ensure seamless adoption, Microsoft will conduct extensive training programs for Fawry’s sales representatives on M365 and the Microsoft Copilot suite, equipping them with the knowledge to introduce the bundled solutions to SME customers. Additionally, Fawry and Microsoft have collaborated with KlayyTech, a trusted implementation partner specializing in digital transformation for SMEs, who will oversee the integration process, providing SMEs with the technical support they need to maximize the benefits of these solutions.

Commenting on the partnership Eng. Ashraf Sabry, CEO of Fawry stated: “Fawry is firmly committed to accelerating the digital transformation and financial inclusion for Egypt’s SME sector. By integrating Microsoft 365 with our robust financial services, we will deliver a seamless, all-in-one solution that enhances efficiency, boosts competitiveness, and fuels sustainable growth for our SME partners. Together, we are empowering businesses with the tools they need to thrive in an evolving digital economy, reinforcing our dedication to innovation and success.”

For her part, Mirna Arif, General Manager, Microsoft Egypt, explained, “At Microsoft, we are dedicated to empowering businesses with the latest cutting-edge technologies they need to succeed in today’s dynamic business landscape. Our collaboration with Fawry allows us to bring Microsoft 365 to SMEs in a way that directly enhances their productivity, security, and efficiency. By integrating these capabilities with Fawry’s financial services, we are accelerating digital adoption and helping businesses become more agile, competitive, and prepared for the future.”

Adel Abdel Hamid, Channel Sales Manager at Microsoft Egypt, added, “This collaboration is a strategic milestone for enabling SMEs to achieve more. By integrating Microsoft 365 with Fawry’s robust financial services, we are providing businesses with enhanced security and AI-ready solutions that will drive their growth and success in the digital era.”

Ihab Fathi, General Manager at KlayyTech, said, “As a digital transformation enabler, KlayyTech plays a vital role in ensuring the smooth adoption of new technologies. Our expertise in implementation and integration will ensure that SMEs can seamlessly adopt and leverage these powerful solutions, driving their digital transformation journey.”

Sherif Abou Shady, SMEs Director at Fawry, added, “SMEs are the backbone of the Egyptian economy, and this partnership equips them with essential tools to thrive in an increasingly competitive market. Aligned with Fawry’s mission to deliver integrated business solutions, this combination of financial and productivity tools will drive growth, efficiency, and long-term success for SMEs.”

By combining technology, financial solutions, and seamless implementation, the collaboration between Fawry, Microsoft, and KlayyTech is set to ignite a new era of digital empowerment for Egyptian SMEs by building a digitally inclusive business landscape, strengthening Egypt’s position as a digital transformation hub in the region.

Fawry Releases FY2024 Results

Posted on مارس 2, 2025 by aberabozaher

Fawry Releases FY2024 Results
Fawry continues its stellar performance, achieving outstanding growth with year-over-year revenue increase of 68.4% for FY2024 and 124.6% for the bottom-line for the same period, which reflected in the highest FY EBITDA and net income margins since the company’s inception, 49.9% and 29.2%, respectively.

02 March 2025 – (Cairo, Egypt) Fawry (the “Company”, FWRY.CA on the Egyptian Exchange), Egypt’s leading provider of e-payments and digital finance solutions, announced today its consolidated results for the quarter ended 31 December 2024. The Company booked revenues of EGP 5,510.6 million in FY2024, up by 68.4% year-on-year (y-o-y). Strong top-line performance was driven by the expansion and diversification of the Company’s business offerings, which alongside effective cost control measures resulted in robust profitability margins leading to a net profit growth of 124.6% to reach EGP 1,606.7 million. Net profit for the quarter stood at EGP 500.1 million, up by an impressive 118.6% y-o-y yielding an associated net profit margin (NPM) of 30.0%.

Fawry

Financial & Operational Highlights
• Throughput value maintained its upward momentum, up 72.9% year-on-year to EGP 601.7 billion in FY2024, supported by the company’s ability to broaden its portfolio to address a diverse user base in Egypt.
• The company’s gross loan portfolio for both MSMEs and Consumers by end of 2024 came 2.6x that of 2023, surpassing EGP 3.1 billion.

• Fawry’s top-line increased by 68.4% year-on-year, marking its highest growth rate since 2015, reaching EGP 5,510.6 million in FY2024. While for 4Q2024, topline year-on-year growth recorded a whopping 74.4%. This robust performance was driven by strong results across the company’s business lines.

• The ADP segment experienced substantial year-on-year growth of 34.7%, fueled by the continuous addition of new billers, expansion of Point of Sale (POS) services, increased engagement with customers and merchants, and a rise in average ticket sizes driven by price increases in select industries. Despite this growth, ADP’s contribution decreased to 31.0% in FY2024 from 38.8% in FY2023 as other revenue streams continued to grow.
• As a testament for the company’s success in its revenue diversification strategy, Banking services saw revenues increase by 83.3% year-on-year, financial services surged by 137.7% year-on-year, supply chain solutions experienced a notable year-on-year increase of 53.4%, and the technology and other sectors grew by 45.0% year-on-year.

• EBITDA more than doubled in FY2024 to EGP 2,747.1 million, reaching an EBITDA margin of 49.9%, with an EBITDA margin expansion of 9.6 ppts year over year, reflecting the company’s success in growing its revenue streams while capitalizing on service synergy and improving operational cost efficiency. It is worth mentioning that the EBITDA margin has gone up by 19.2% vs. FY2022.
• Fawry’s bottom-line increased by an impressive 124.6% year-on-year to EGP 1,606.7 million in FY2024, reflecting both revenue growth and EBITDA margin enhancement.

Chief Executive’s Review
I am thrilled to share our FY2024 results, where we have once again exceeded market expectations, achieving unprecedented growth across both revenue and profitability. Our continued success reflects our commitment to expanding and diversifying our offerings across multiple verticals, advancing our long-term strategy for value creation and revenue diversification.

Fawry’s top-line surged by 68.4% year-on-year in FY2024, while profitability remained strong, with an exceptional EBITDA margin of 49.9% (+9.6 points)—the highest since the company’s inception. Bottom-line growth reached 124.6%, with an associated margin improvement of 7.3 percentage points to 29.2%, also marking an all-time high. These achievements were driven by increased customer engagement, revenue diversification, enhanced cross-selling initiatives, and cost-control measures.

Banking Services remained a primary driver of revenue growth, achieving an impressive 83.3% year-on-year increase, reflecting our strategy to diversify revenue streams and enhance financial inclusion.

Financial Services for MSMEs and Consumers saw exceptional momentum, with neobanking services fueling a 137.7% year-on-year revenue increase in FY2024. This growth was propelled by the launch of SME lending services and the Overdraft (BNPL for Business) product, leading to a 102.2% increase in the MSME gross loan portfolio, now reaching EGP 2.1 billion.

Fawry’s Consumer BNPL portfolio continued its strong expansion, surpassing EGP 1.0 billion as of December 31, 2024. This growth is further propelled by the increasing capabilities of the myFawry app, which has evolved into a comprehensive financial platform. The seamless integration of Prepaid Cards, BNPL services, and the Money Market Fund “Fawry Yawmy,” along with the recent addition of Emergency and Medical insurance options, has significantly enhanced the app’s value proposition. These strategic enhancements have cemented Fawry’s position as a leading provider of holistic financial solutions, driving a threefold year-on-year increase in myFawry’s throughput to EGP 26.8 billion.

Our Alternative Digital Payments segment maintained robust growth of 34.6% year-on-year, reinforcing its role as the backbone of our digital ecosystem. Additionally, our Supply Chain Solutions division recorded a 53.4% increase in revenue, further cementing Fawry’s transformation into a comprehensive financial services ecosystem.

Operationally, Fawry delivered outstanding performance in FY2024, with mobile wallet transactions increasing by 53.9% year-on-year, and total processed value via mobile wallets growing by 155.7% y-o-y to EGP 486.3 billion.

As we look to the future, our focus remains on building a multi-sided platform that fosters seamless interactions across our network. Through continuous innovation and service expansion, we are committed to addressing the diverse needs of our customers while driving financial inclusion for Egypt’s unbanked and underserved communities.

We are also particularly excited about the launch of “Fawry Business”, which will significantly enhance our position as a one-stop digital business solutions provider. By expanding Fawry Business capabilities in ERP and financial management tools, integrating seamless digital payment solutions, and developing tailored fintech innovations for SMEs and large enterprises, we are paving the way for a more interconnected and efficient digital economy.

FY2024 has been a landmark year for Fawry, and we remain steadfast in our mission to drive innovation, expand access to financial services, and deliver long-term value for all stakeholders.

Fawry, Banque Misr, and EBC Launch Cash in and out interoperable for E-Wallets to Promote Financial Inclusion

Posted on فبراير 26, 2025 by aberabozaher

Fawry, Banque Misr, and EBC Launch Cash in and out interoperable for E-Wallets to Promote Financial Inclusion

18 February 2025 – (Cairo, Egypt) Fawry, Egypt’s leading e-payments solutions provider, in collaboration with Banque Misr and Egyptian Banks Company for Technology Advancement (EBC), announced the launch of a new cash in and out interoperable for e-wallets via Meeza Digital Scheme. This service enables customers who hold e- wallets from any bank or financial institution to easily and flexibly perform cash in and out interoperable at electronic points of sale (POS) available through Fawry’s nationwide network. This initiative reflects the commitment of Fawry, Banque Misr, and EBC to enhance financial inclusion and intensify efforts to increase accessibility to financial services for broader segments of the society.

Fawry

This new service further strengthens Fawry’s leadership in the fintech market. Thanks to this service, customers can now perform deposit and withdrawal securely and efficiently, with a maximum limit of EGP 4,000 per transaction, through Fawry’s nationwide network and FawryPlus branches. This makes the service easily accessible to customers across Egypt. The strategic partnership between Fawry, Banque Misr, and EBC marks a significant advancement in Egypt’s financial services sector, providing innovative and user-friendly payment solutions that drive economic growth and promote digital transformation. Individual customers benefit from this collaboration by accessing various financial options tailored to their diverse needs, boosting confidence in the economic system, and encouraging investment.

Commenting on the launch of the e-wallet deposit and withdrawal service via Meeza Digital Scheme, Tarek Zohairy, Chief Commercial Officer- Financial Services & Digital Solutions at Fawry, said: “We are proud to take an important step forward in our mission to expand financial inclusion in Egypt. The partnership with Banque Misr and EBC to launch this service significantly advances our ongoing efforts to drive digital transformation and create a more inclusive financial community. At Fawry, we are committed to ensuring that everyone can access the opportunities offered by financial technology securely and seamlessly, anytime and anywhere across the country.”

For his part, Mohamed Shawky, Deputy Business Development GM at Egyptian Banks Company for Technological Advancement (EBC), stated: “At EBC, we believe that innovation is the key to making financial transactions more accessible and efficient. Therefore, we are delighted to collaborate with Fawry and Banque Misr to launch new cash in and out interoperable for e-wallets, utilizing the latest payment technologies. This service is available anytime and anywhere, contributing to a more digital and financially inclusive future while strengthening Egypt’s position as an attractive investment destination. This strategic partnership reaffirms our commitment to innovation and delivering payment solutions that meet the evolving needs of our customers and empower the end-user with multiple digital payment methods.”

Banque Misr takes pride in its strategic partnership with all parties, which has resulted in the launch the Cash In and Out interoperable at Electronic Points of Sale (POS) via Meeza Digital Scheme. This aligns with the bank’s plan to expand its services through various electronic channels, providing customers with services more smoothly, enabling them to manage their financial transactions with ease and security using technology and secure systems in financial transactions . It also supports the state’s efforts in promoting financial inclusion, which requires the collective efforts of various entities and institutions, as well as providing incentives that encourage users to engage in the electronic payment system, while also continuing Banque Misr’s pioneering role in supporting the Egyptian economy.

The cash deposit and withdrawal service for e-wallets is currently available at all Fawry branches, specializing in banking and electronic payment technology nationwide. It will soon be expanded to include all Fawry network points of sale (POS), including retail distribution, ensuring broader and more widespread access to the service. The successful collaboration between Fawry, Banque Misr, and the Egyptian Banks Company for Technological Advancement (EBC) reflects their shared commitment to developing innovative financial solutions that address the needs of the Egyptian market. This partnership aims to enhance financial inclusion, which aligns with Egypt’s Vision 2030.

Fawry Breaks Ground as the 1st in MENA & 10th in the world to Achieve Dual CPOC and MPOC Certifications for its Soft POS Solution

Posted on نوفمبر 4, 2024 by malak ahmed

Fawry (the “Company”, FWRY.CA on the Egyptian Exchange), Egypt’s leading e-payments solutions provider, announced today that its fully in-house developed Soft POS solution has successfully completed the MPOC certification cycle, making it the first company in the MENA region to achieve both CPOC and MPOC certifications and the 10th globally to receive the MPOC certification. Fawry holds full copyright ownership of ‘Tap N Pay,’ the first fully Egyptian-built Soft POS solution.

This dual certification enhances the company’s ability to provide secure, compliant, and cutting-edge payment solutions in the MENA region. Being both CPOC and MPOC certified demonstrates the company’s commitment to the highest standards in contactless payment security, fostering trust among merchants and customers. This accomplishment streamlines deployment of secure, mobile-enabled point-of-sale solutions and contactless payments, enabling expansion into new markets, improving customer acquisition, and strengthening relationships with financial partners and regulatory bodies.

The Soft POS technology will enable Fawry to enhance its e-commerce offerings by integrating seamless payment solutions, elevate its mobility solutions for better functionality and user experience, and expand its market reach within the service industry to better serve transportation, logistics, and maintenance sectors by integrating their mobility applications to the company’s payment infrastructure.

Eng. Ashraf Sabry, Chief Executive Officer of Fawry, commented: “I am incredibly proud of the efforts of our technology team in achieving this remarkable success. Being the first company in the MENA region with a fully in-house developed Soft Pos solution to get the MPOC and CPOC certification is not only a testament of Fawry’s commitment but also further demonstrates the trust and believe the company has in local talent. Being a locally built product will enable Fawry to offer the service at a cost advantage over competitors”.

CPOC (Certified Procure-to-Pay Operations Certified) and MPOC (Master Procurement Operations Certified) are professional certifications related to procurement and supply chain management, issued by the PCI Security Standards Council (PCI SSC). They focus on the essential skills needed to manage procurement operations effectively and streamline the procure-to-pay (P2P) process. Both certifications aim to enhance a professional’s ability to manage procurement operations efficiently, improve supplier relations, and implement best practices in purchasing and supply chain management.

Zoho Records 33% Revenue Growth in Egypt and Allocates $35 Million in a joint partnership with Fawry

Posted on أكتوبر 25, 2024 by Fatma abdelhamed

Zoho Records 33% Revenue Growth in Egypt and Allocates $35 Million in a joint partnership with

Fawry to Digitally Empower Businesses

: Zoho Corp., a leading global technology company,

announced a remarkable 33% revenue growth and a 110% increase in its channel partners in Egypt since 2023,

highlighting the significant adoption of its business solutions.

This announcement was made during Zoholics Egypt 2024,

Zoho’s annual user conference, where Zoho Corp., and Fawry,

Egypt’s leading e-payments solution provider,

signed a Memorandum of Understanding (MoU) to accelerate the digitalization of Egyptian businesses,

where Zoho will allocate up to $35 million in wallet credits to support Fawry’s extensive network of 70,000 businesses,

empowering them to adopt digital tools that enhance operational efficiency and promote sustainable growth.

This partnership underlines both companies’ commitment to advancing Egypt’s digital economy and supporting

local enterprises with cutting-edge technological solutions.

Business Growth in Egypt

Zoho announced growth in its operations in Egypt,

achieving a remarkable revenue increase and significant expansion of its local partner network in 2023.

The growth comes as more businesses in Egypt seek to digitalize their operations, abandon costly competition,

and adopt the latest technology.

“Egypt’s vibrant market, with its abundant talent and innovative ideas,

presents a prime opportunity for businesses seeking to stay ahead of the curve.

Our products are ideally suited to help companies in Egypt drive efficiency,

enhance customer experiences, and achieve sustainable growth.

The remarkable market expansion Zoho witnessed this year underscores the increasing maturity of Egypt’s technology ecosystem and the strong demand for innovative solutions,”

said Hyther Nizam, President of Middle East and Africa (MEA) at Zoho.

This remarkable achievement underscores Zoho’s unwavering commitment to transnational localism,

a strategy that involves operating globally while deeply understanding and adapting to local markets.

By prioritizing the localization of its products and services,

Zoho has been able to address the specific needs and preferences of businesses in Egypt.

This strategic approach has enabled Zoho to build strong relationships with customers

and partners in the local market, fostering trust and driving sustainable growth.

Zoho’s top products in Egypt are Zoho One, Zoho Workplace, Zoho CRMPlus, Zoho People, Zoho Desk,

and Zoho Books.

Stemming from this strategy, Zoho also continues to offer localized customer support,

Arabic-supported apps, and flexible pricing plans tailored to the specific needs of local businesses.

The company’s localised pricing strategy ensures businesses can access Zoho’s services at a fair

and affordable cost without the added complexities of currency conversions or fluctuating exchange rates.

Empowering local businesses in Egypt

In a signing ceremony that took place during Zoholics Egypt, Fawry and Zoho Corp.,

signed an MoU marking a significant collaboration aimed at digitally transforming the business landscape in Egypt.

Through this strategic partnership, Zoho will allocate up to $35 million in wallet credits over the next few years,

enabling over 70,000 businesses in Fawry’s extensive network to embrace digital solutions.

The joint effort combines, Zoho’s comprehensive suite of cloud-based applications with Fawry’s

leadership in digital payments will provide new customers with wallet credit access of $500

(more than EGP 24,000) to utilize any of its 55+ applications free of charge for one year.

This initiative will not only make technology more accessible for businesses

but also accelerate their digital transformation by integrating Fawry Business’s digital payment solutions

with Zoho’s software tools.

Commenting on the MoU signing, Mohamed Kamel, Head of Business Development at Fawry,

said:”Fawry has always been at the forefront of advancing digital payment solutions for businesses in Egypt.

Partnering with Zoho allows us to expand our commitment to supporting local businesses by equipping them

with cutting-edge technological tools to enhance their operations and drive growth.

This collaboration reflects our commitment to fostering a digitally empowered business ecosystem in Egypt.

where businesses of all sizes can thrive in the evolving market.”

“Zoho is committed to empowering businesses globally through digital transformation.

By partnering with Fawry in Egypt, we aim to take part in accelerating the nation’s digitalization journey

and equipping businesses with the tools they need to succeed,”

said Premanand Velumani, Associate Director, Strategic Growth, MEA at Zoho.

“Our focus on creating tangible impact ensures that Egyptian entrepreneurs can innovate and grow without being

burdened by the complexities of operations. This also contributes to bringing about a more prosperous and

interconnected future for Egypt,” Velumani added.

This partnership between Zoho and Fawry represents a significant step towards fostering digital transformation

within Egypt’s business ecosystem.

By combining Zoho’s extensive suite of cloud-based applications with Fawry’s expertise in digital payment solutions,

both companies are dedicated to empowering local enterprises to operate more efficiently, scale sustainably,

and thrive in an increasingly digital economy.

Together, Fawry and Zoho aim to drive innovation and provide businesses

with the tools necessary to succeed in the evolving market landscape,

reinforcing their shared commitment to advancing Egypt’s digital economy.