Egyptian government gets digital with payment platform Fawry

When it comes to the global trend of making financial services available to all segments of society, the quickening pace is as prevalent in developing countries as anywhere else. For Egypt there is Fawry.

Launched in 2009 as a payment service that allows customers to send money electronically, Fawry is now the country’s leading electronic bill delivery and payment (EBPP) platform. Their services have come very far since the start; this was made clear at their recent conference in Cairo entitled “Towards a more inclusive financial and governmental services” where they announced their plans to be working with the Egyptian government.

The Fawry partnership with the government comes in the wake of a study, published at the end of 2013 by the Central Agency for Public Mobilization and Statistics, in which it was revealed that 40% of the Egyptian population is living in poverty. They used the conference as an opportunity to look at tackling the possibility of creating digital communication channels between citizens and governmental services including payment services.

And their work on financial inclusion doesn’t stop there. Fawry are also working on an initiative for Egypt by working with its two partners International Finance Corporation (IFC), and MasterCard for credit cards.

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Egyptian government gets digital with payment platform Fawry