Home » Egyptian tycoon Ashraf Sabry’s Fawry joins forces with Taiwanese tech giant for seamless payment solutions

Egyptian tycoon Ashraf Sabry’s Fawry joins forces with Taiwanese tech giant for seamless payment solutions

by Eduardo C. Serrano
Ashraf Sabry

Fawry for Banking Technology and Electronic Payments (Fawry), a leading fintech company led by Egyptian entrepreneur Ashraf Sabry, has partnered with Taiwanese multinational information technology corporation, MSI, to offer advanced payment services for businesses and consumers.

Under the terms of the deal, Fawry will facilitate payment solutions for MSI’s customers through its extensive network of merchants in Egypt. The partnership is timely as MSI plans to launch new top-tier models designed to meet evolving business demands.

As part of the agreement, MSI Middle East will offer exclusive discounts on business laptops for SMEs and startups, with facilitated installment plans through Fawry’s network in collaboration with ABC Shop.

Heba El-Awadi, chief business officer-acceptance at Fawry, highlighted the safety and convenience of the partnership, which offers electronic payment solutions through various Fawry channels, including the “myfawry” mobile application, more than 220 “FawryPlus” outlets nationwide, and Fawry’s widespread network of retailers in Egypt.

 “The partnership provides a safe and easy electronic payment method through various Fawry channels, such as the ‘myfawry’ mobile application and more than 220 ‘FawryPlus’ outlets across the country, in addition to the Fawry POS machines of the most widespread network of retailers in Egypt,” he said.

Fawry is a joint venture between HSBC, Arab African International Bank, Bank of Alexandria, EFG Hermes, Raya Holding, and Fawry management, making it one of Africa’s leading fintech companies.

Founded by Sabry, a pioneering entrepreneur, Fawry operates an electronic bill payment network that allows the Egyptian public to pay bills and top up mobile phones through various electronic channels at banks and a network of retailers, providing a convenient and secure platform.

Sabry holds 2.345 percent of the company, or 40,036,282 shares, and has led Fawry to become a powerhouse African tech firm with over 29.3 million monthly users.

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