#fawry egypt

[egyfoxtechnology]

ايه هي فروع فوري في مصر ؟ - فوري من اهم الخدمات اللي بيحتاجها اي شخص عشان مدفوعاته او شحن بطاقاته البنكيةفي المقالة ديه كل فرع من فروع فوري في كل محافظة في مصر 

[finextcon]

The Rise of Fintech Companies in MENA: Transforming Financial Landscapes

Introduction

The Middle East and North Africa (MENA) region is undergoing a significant transformation driven by the rapid rise of fintech companies. These innovative enterprises are leveraging technology to revolutionize financial services, enhance accessibility, and promote financial inclusion across the region. In this blog, we explore the factors driving the fintech boom in MENA, key players, and the impact on the financial landscape.

The Driving Forces Behind Fintech Growth

1. Young, Tech-Savvy Population MENA boasts a predominantly young population that is highly tech-savvy. With increasing smartphone penetration and internet access, this demographic is eager to adopt digital financial services, creating a fertile ground for fintech innovation.

2. Government Support and Regulatory Reforms Governments in the MENA region are actively fostering fintech growth by implementing supportive policies and regulatory frameworks. Initiatives like regulatory sandboxes, fintech hubs, and favorable licensing conditions are encouraging startups and investors to enter the market.

3. High Unbanked Population A significant portion of the MENA population remains unbanked or underbanked. Fintech companies are addressing this gap by offering accessible and affordable financial solutions, from mobile wallets to digital lending platforms, thus promoting financial inclusion.

4. Investment and Collaboration The region has seen a surge in investment in fintech startups, with venture capitalists and financial institutions recognizing the potential for substantial returns. Collaborations between traditional banks and fintech firms are also driving innovation and expanding the reach of digital financial services.

Key Players in the MENA Fintech Ecosystem

1. PayTabs PayTabs, a Bahrain-based payment solutions provider, is a prominent player in the MENA fintech landscape. The company offers secure and seamless online payment processing, catering to businesses of all sizes across the region.

2. Fawry Egypt's Fawry is a leading electronic payment network, providing a wide range of financial services, including bill payments, mobile banking, and e-commerce solutions. Fawry's extensive network of retail locations makes it a critical player in promoting digital financial services.

3. Souqalmal Based in the UAE, Souqalmal is a financial comparison platform that empowers consumers to make informed financial decisions. The platform offers comparisons of banking, insurance, and investment products, enhancing transparency and competition in the financial sector.

4. Sarwa Sarwa, a robo-advisory platform from the UAE, is democratizing investment by offering affordable and accessible wealth management services. The platform leverages technology to provide personalized investment portfolios tailored to individual risk profiles and financial goals.

Impact on the Financial Landscape

1. Enhanced Financial Inclusion Fintech companies in MENA are playing a crucial role in bridging the financial inclusion gap. By offering digital banking, payment solutions, and microfinance services, they are empowering previously underserved populations to participate in the formal economy.

2. Increased Efficiency and Innovation The integration of technology in financial services is streamlining operations, reducing costs, and enhancing efficiency. Fintech firms are driving innovation in areas such as blockchain, artificial intelligence, and machine learning, setting new standards for the industry.

3. Competition and Consumer Empowerment The rise of fintech is fostering healthy competition in the financial sector. Traditional banks are compelled to innovate and improve their services to keep pace with agile fintech startups. Consumers, in turn, benefit from a broader range of choices and improved service quality.

4. Economic Growth and Job Creation The fintech boom is contributing to economic growth by attracting investment, fostering entrepreneurship, and creating jobs. As the fintech ecosystem expands, it generates opportunities for skilled professionals in technology, finance, and related fields.

Conclusion

The fintech revolution in the MENA region is transforming the financial landscape, driving financial inclusion, and fostering economic growth. With continued support from governments, investors, and consumers, the region's fintech ecosystem is poised for even greater expansion and innovation. As fintech companies continue to disrupt traditional financial services, they are paving the way for a more inclusive, efficient, and dynamic financial future in MENA.

[bouxmounir]

Mylerz obtient 9,6 millions de dollars de Lorax Capital Partners et Fawry pour développer ses solutions logistiques en Afrique du Nord

Mylerz obtient 9,6 millions de dollars de Lorax Capital Partners et Fawry pour développer ses solutions logistiques en Afrique du Nord

Le Caire, Egypte, 11 mai 2022– (FIL D’AFFAIRES) – Mylerz, une société égyptienne d’innovation dans le domaine de la livraison et de la gestion des commandes de dernière minute, a annoncé aujourd’hui la clôture d’une table ronde de 9,6 millions de dollars détenue par Lorax Capital Partners pour développer et étendre ses opérations en Égypte et en Afrique du Nord. Fawry, la principale société de…

[uniquequotesonlife]

dLocal expands footprint, partners with Fawry and Verve

dLocal expands footprint, partners with Fawry and Verve

dLocal has expanded her payment network to cover Senegal, Ghana, Kenya, and Cameroon while integrating new partners in Egypt and Nigeria. The firm plans on leveraging her API payments technology platform that offers flexibility and supports 300 payment methods across 23 emerging countries, China, Indonesia, Brazil, Mexico, and India.

Merchants integrate once to  dLocal’s API when accepting…

[ken-research-market-research]

Egypt International Remittance Market is Expected to Reach USD 20.5 Billion in Terms of Total Transaction Value for the Financial Year Ending 2023: Ken Research

Egypt International Remittance Market is Expected to Reach USD 20.5 Billion in Terms of Total Transaction Value for the Financial Year Ending 2023: Ken Research

Buy Now

  Owing to changing Saudi Arabia’s policies, Egyptian Migrants have been forced to return back to their home countries, which are expected to impact the inbound remittance in Egypt.

Egypt is expected to retain its position as sixth largest remittance receiving country in the world and will continue to be its key foreign exchange earner.

Egypt Bill Payment Market is expected to register…

[gulf-career-hunt]

Internal Audit Officer Cairo Egypt

Position: Internal Audit Officer

Date posted: 2020-03-24

Industry: Other

Employment type: Full Time

Experience: 2 year of relevant experienc

Qualification: University degree of economics; accounting; banking; finance

Location: Cairo, Egypt

Company: fawry micro finance

Description:

Internal Audit Officer – Cairo

Internal Audit Officer is responsible for evaluation and…

[mikemortgage]

Egypt’s Fawry eyes UAE deal, Saudi and Kuwaiti markets

CAIRO -- Egyptian digital payments company Fawry plans to expand into the United Arab Emirates by the end of the year and also hopes to enter Saudi Arabia and Kuwait in 2020, its managing director said. Read More from Financial Post https://ift.tt/316Oebl via IFTTT Blogger Mortgage Tumblr Mortgage Evernote Mortgage Wordpress Mortgage href="https://www.diigo.com/user/gelsi11">Diigo Mortgage

[businessliveme]

Egyptian E-Payment Firm Fawry Surges in Trading Debut in Cairo

(Bloomberg) — The first company to make its trading debut on Egypt’s bourse this year, electronic-payments firm Fawry for Banking & Payment Technology Services S.A.E., saw its shares jump after its initial public offering.

The stock rose 29% to trade at 8.31 Egyptian pounds as of 10:07 a.m. local time after shares were sold at 6.46 Egyptian pounds in the IPO. The offering represented 36% of Fawry’s share capital and raised about 1.6 billion Egyptian pounds ($97 million). EFG Hermes Holding was the manager of the sale.

Fawry is an 11-year-old company that facilitates electronic bill-payments in urban neighborhoods, and counts 20 million Egyptians as customers, according to its website. Its retail network includes grocers and pharmacies. A tranche of the IPO offered to institutional investors was oversubscribed by 15.9 times, according to EFG Hermes.

Fawry is the first IPO on the EGX since Sarwa Capital in October 2018, as high interest rates attract investors to fixed income rather than equities. The government has delayed plans to offer stakes in some state-run companies, sales that were supposed to streamline the bloated public sector and turn around loss-making enterprises.

Following the “good reception” to the IPO, the stock will likely outperform within its first month of trading, said Amr Elalfy, the head of research at SHUAA Securities Egypt.

A stock stabilization fund managed by EFG Hermes will help sustain the stock price in the first month of trading. This measure “should support the stock holders from the public offering,” Elalfy wrote in a message earlier this week. Potential risks to the stock’s performance include low liquidity, revenue, and growth rates that fail to meet market expectations and weakening margins, he said.

 –With assistance from Mirette Magdy.

The post Egyptian E-Payment Firm Fawry Surges in Trading Debut in Cairo appeared first on Businessliveme.com.

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[exactlyweepingtale]

Now you can enjoy online payment services in more than 300 branches across Egypt to carry out bank services, book tickets, pay bills and more easily and safely.

[afroinsider]

Egypt’s banking customer base “weak”, it's not good timing for cryptocurrencies: CIB - Daily News Egypt

Egypt’s banking customer base “weak”, it’s not good timing for cryptocurrencies: CIB – Daily News Egypt

Mohamed Farag, head of International Transactions and Digital Banking at the Commercial International Bank (CIB), described Egypt’s banking customer base as “weak”, with only 14 million customers.

He explained that the country should have at least 60 million banking customers, and this low current figure is related to the banking service costs, especially in rural areas.

“After Fawry Plus was in…

[michaeljtraylor]

Online payment solutions crucial to travel, as Middle East travelers book later and more often

At WiT Middle East, Checkout.com’s Remo Giovanni Abbondandolo (vice president of business development, MENA) presented a comprehensive report on the state of online payments in the Middle East travel industry.

During his exclusive presentation, Abbondandolo gave an in-depth view on the purchasing behaviors of travelers in the Middle East, where the opportunities lie and what some of the core challenges facing the industry are, as online payments begin to overtake traditional methods.

The Middle East is a powerful microcosm of how the travel online payments industry can develop, largely thanks to its very young, tech-savvy population (106 million between ages 15 and 29) who unsurprisingly, love to travel.

To set the context, Abbondandolo offered a snapshot into the habits of the Middle Eastern traveler.

One thing that came to the fore was the rising preference for shorter (less than 7 days) but more frequent trips throughout the region. Saudi Arabia stood out in particular, with 53% on travelers embarking on short trips, as compared to about a third in the UAE (34%) and the broader MENA region (37%).

When it comes to planning those trips, Abbondandolo emphasized that UAE and Saudi travelers are last-minute bookers. In fact, according to Cleartrip and Flyin, 67% of Saudi travelers book their travel plans via mobile device within the same week of travel, with 27% of those bookings happening within 48 hours of departure.

This may be due to the fact that international airfares to and from Saudi Arabia dropped by 9% in the past year, and the gradual rise of regional low-cost carriers – including Flydubai, Flyadeal and Flyna.

Not to mention, the rise of local (and localized) OTAs and metasearches, by the likes of Almosafer, Tajawal, Rehlat, Travelstart and Wego, have given customers access to instantly bookable flights and accommodation, shortening the path to purchase.

However, when it comes to making payments, Abbondandolo described the landscape as “highly regulated and fragmented.” He also remarked that the travel industry is seeing a slower adoption of online payment solutions as compared to other industries like e-commerce because of the typically higher transaction values associated with travel bookings.

As of Q4 in 2018, online payment approval rates stood at 5.13% in MENA, seeing an exponential increase from Q1 (0%) and Q2 (0.62%). According to the report, MENA now falls just behind the global online travel acceptance ratio by 3%.

“[MENA] is making great progress… but is still behind more mature markets,” said Abbondandolo.

Currently, online travel bookings are still dominated by traditional payment methods, namely Visa and Mastercard, which make up an incredible 95.25% of transactions. The remaining 4.75% are made up of AMEX, Paypal and others.

However, the landscape is shifting. Saudi Arabia recently allowed the use of debit cards for online transactions, paving the way for other countries within the region to follow suit. The kingdom introduced a debit card – Mada – in March last year, which saw a 39% adoption rate within its first three months (averaging out to 35.7% as of December).

Get a daily dose of travel tech

Subscribe to the PhocusWire newsletter below!

It is indicative of the high local appetite for online payments and the pressure on regional providers to give travellers the ability to transact in their preferred methods. Inevitably, this will vary on individual markets as dominant payments methods differ – for example: Mada (KSA), KNET (Kuwait), OmanNet (Oman) and Fawry (Egypt).

As with any growth, the rise of online payments comes with a fresh set of challenges for the travel industry.

Trust is a dominant issue for many first-time users, who are perhaps intimidated by the prospect of no longer communicating through a traditional travel agent. The report advised optimizing the check out page, offering multiple payment methods, ensuring easy-to-access customer support channels (and options for emergencies), as well as guaranteeing a seamless user experience.

On the provider’s side, Abbondandolo pointed at a fundamental lack of understanding behind the importance of imposing 3D security measures – an XML-based protocol that acts as an additional layer of security for online credit and debit card transactions.

He said that implementing the measures would not only shift liability off providers should things go wrong, but it would also help merchants assess different risk profiles and identify abnormal behaviors.

Ultimately, travel companies will need to adapt quickly as online payment methods become ubiquitous, particularly in a region with one of the highest mobile penetration rates in the world. The report concluded that the implementation of local payments has the potential to add USD 95 billion per year to the Middle East’s annual GDP by 2020.

* This article originally appeared on WebinTravel.

Spotlight: The Middle East Opportunity

Learn the key trends happening in a market of an incredibly young, social and mobile population at Phocuswright Europe May 15-16.

Source link

from RSSMix.com Mix ID 8312273 https://hashtaghighways.com/2019/04/22/online-payment-solutions-crucial-to-travel-as-middle-east-travelers-book-later-and-more-often/ from Garko Media https://garkomedia1.tumblr.com/post/184366193219

[garkomedia1]

Online payment solutions crucial to travel, as Middle East travelers book later and more often

At WiT Middle East, Checkout.com’s Remo Giovanni Abbondandolo (vice president of business development, MENA) presented a comprehensive report on the state of online payments in the Middle East travel industry.

During his exclusive presentation, Abbondandolo gave an in-depth view on the purchasing behaviors of travelers in the Middle East, where the opportunities lie and what some of the core challenges facing the industry are, as online payments begin to overtake traditional methods.

The Middle East is a powerful microcosm of how the travel online payments industry can develop, largely thanks to its very young, tech-savvy population (106 million between ages 15 and 29) who unsurprisingly, love to travel.

To set the context, Abbondandolo offered a snapshot into the habits of the Middle Eastern traveler.

One thing that came to the fore was the rising preference for shorter (less than 7 days) but more frequent trips throughout the region. Saudi Arabia stood out in particular, with 53% on travelers embarking on short trips, as compared to about a third in the UAE (34%) and the broader MENA region (37%).

When it comes to planning those trips, Abbondandolo emphasized that UAE and Saudi travelers are last-minute bookers. In fact, according to Cleartrip and Flyin, 67% of Saudi travelers book their travel plans via mobile device within the same week of travel, with 27% of those bookings happening within 48 hours of departure.

This may be due to the fact that international airfares to and from Saudi Arabia dropped by 9% in the past year, and the gradual rise of regional low-cost carriers – including Flydubai, Flyadeal and Flyna.

Not to mention, the rise of local (and localized) OTAs and metasearches, by the likes of Almosafer, Tajawal, Rehlat, Travelstart and Wego, have given customers access to instantly bookable flights and accommodation, shortening the path to purchase.

However, when it comes to making payments, Abbondandolo described the landscape as “highly regulated and fragmented.” He also remarked that the travel industry is seeing a slower adoption of online payment solutions as compared to other industries like e-commerce because of the typically higher transaction values associated with travel bookings.

As of Q4 in 2018, online payment approval rates stood at 5.13% in MENA, seeing an exponential increase from Q1 (0%) and Q2 (0.62%). According to the report, MENA now falls just behind the global online travel acceptance ratio by 3%.

“[MENA] is making great progress… but is still behind more mature markets,” said Abbondandolo.

Currently, online travel bookings are still dominated by traditional payment methods, namely Visa and Mastercard, which make up an incredible 95.25% of transactions. The remaining 4.75% are made up of AMEX, Paypal and others.

However, the landscape is shifting. Saudi Arabia recently allowed the use of debit cards for online transactions, paving the way for other countries within the region to follow suit. The kingdom introduced a debit card – Mada – in March last year, which saw a 39% adoption rate within its first three months (averaging out to 35.7% as of December).

Get a daily dose of travel tech

Subscribe to the PhocusWire newsletter below!

It is indicative of the high local appetite for online payments and the pressure on regional providers to give travellers the ability to transact in their preferred methods. Inevitably, this will vary on individual markets as dominant payments methods differ – for example: Mada (KSA), KNET (Kuwait), OmanNet (Oman) and Fawry (Egypt).

As with any growth, the rise of online payments comes with a fresh set of challenges for the travel industry.

Trust is a dominant issue for many first-time users, who are perhaps intimidated by the prospect of no longer communicating through a traditional travel agent. The report advised optimizing the check out page, offering multiple payment methods, ensuring easy-to-access customer support channels (and options for emergencies), as well as guaranteeing a seamless user experience.

On the provider’s side, Abbondandolo pointed at a fundamental lack of understanding behind the importance of imposing 3D security measures – an XML-based protocol that acts as an additional layer of security for online credit and debit card transactions.

He said that implementing the measures would not only shift liability off providers should things go wrong, but it would also help merchants assess different risk profiles and identify abnormal behaviors.

Ultimately, travel companies will need to adapt quickly as online payment methods become ubiquitous, particularly in a region with one of the highest mobile penetration rates in the world. The report concluded that the implementation of local payments has the potential to add USD 95 billion per year to the Middle East’s annual GDP by 2020.

* This article originally appeared on WebinTravel.

Spotlight: The Middle East Opportunity

Learn the key trends happening in a market of an incredibly young, social and mobile population at Phocuswright Europe May 15-16.

Source link

from RSSMix.com Mix ID 8312273 https://hashtaghighways.com/2019/04/22/online-payment-solutions-crucial-to-travel-as-middle-east-travelers-book-later-and-more-often/

[garkodigitalmedia]

Online payment solutions crucial to travel, as Middle East travelers book later and more often

At WiT Middle East, Checkout.com’s Remo Giovanni Abbondandolo (vice president of business development, MENA) presented a comprehensive report on the state of online payments in the Middle East travel industry.

During his exclusive presentation, Abbondandolo gave an in-depth view on the purchasing behaviors of travelers in the Middle East, where the opportunities lie and what some of the core challenges facing the industry are, as online payments begin to overtake traditional methods.

The Middle East is a powerful microcosm of how the travel online payments industry can develop, largely thanks to its very young, tech-savvy population (106 million between ages 15 and 29) who unsurprisingly, love to travel.

To set the context, Abbondandolo offered a snapshot into the habits of the Middle Eastern traveler.

One thing that came to the fore was the rising preference for shorter (less than 7 days) but more frequent trips throughout the region. Saudi Arabia stood out in particular, with 53% on travelers embarking on short trips, as compared to about a third in the UAE (34%) and the broader MENA region (37%).

When it comes to planning those trips, Abbondandolo emphasized that UAE and Saudi travelers are last-minute bookers. In fact, according to Cleartrip and Flyin, 67% of Saudi travelers book their travel plans via mobile device within the same week of travel, with 27% of those bookings happening within 48 hours of departure.

This may be due to the fact that international airfares to and from Saudi Arabia dropped by 9% in the past year, and the gradual rise of regional low-cost carriers – including Flydubai, Flyadeal and Flyna.

Not to mention, the rise of local (and localized) OTAs and metasearches, by the likes of Almosafer, Tajawal, Rehlat, Travelstart and Wego, have given customers access to instantly bookable flights and accommodation, shortening the path to purchase.

However, when it comes to making payments, Abbondandolo described the landscape as “highly regulated and fragmented.” He also remarked that the travel industry is seeing a slower adoption of online payment solutions as compared to other industries like e-commerce because of the typically higher transaction values associated with travel bookings.

As of Q4 in 2018, online payment approval rates stood at 5.13% in MENA, seeing an exponential increase from Q1 (0%) and Q2 (0.62%). According to the report, MENA now falls just behind the global online travel acceptance ratio by 3%.

“[MENA] is making great progress… but is still behind more mature markets,” said Abbondandolo.

Currently, online travel bookings are still dominated by traditional payment methods, namely Visa and Mastercard, which make up an incredible 95.25% of transactions. The remaining 4.75% are made up of AMEX, Paypal and others.

However, the landscape is shifting. Saudi Arabia recently allowed the use of debit cards for online transactions, paving the way for other countries within the region to follow suit. The kingdom introduced a debit card – Mada – in March last year, which saw a 39% adoption rate within its first three months (averaging out to 35.7% as of December).

Get a daily dose of travel tech

Subscribe to the PhocusWire newsletter below!

It is indicative of the high local appetite for online payments and the pressure on regional providers to give travellers the ability to transact in their preferred methods. Inevitably, this will vary on individual markets as dominant payments methods differ – for example: Mada (KSA), KNET (Kuwait), OmanNet (Oman) and Fawry (Egypt).

As with any growth, the rise of online payments comes with a fresh set of challenges for the travel industry.

Trust is a dominant issue for many first-time users, who are perhaps intimidated by the prospect of no longer communicating through a traditional travel agent. The report advised optimizing the check out page, offering multiple payment methods, ensuring easy-to-access customer support channels (and options for emergencies), as well as guaranteeing a seamless user experience.

On the provider’s side, Abbondandolo pointed at a fundamental lack of understanding behind the importance of imposing 3D security measures – an XML-based protocol that acts as an additional layer of security for online credit and debit card transactions.

He said that implementing the measures would not only shift liability off providers should things go wrong, but it would also help merchants assess different risk profiles and identify abnormal behaviors.

Ultimately, travel companies will need to adapt quickly as online payment methods become ubiquitous, particularly in a region with one of the highest mobile penetration rates in the world. The report concluded that the implementation of local payments has the potential to add USD 95 billion per year to the Middle East’s annual GDP by 2020.

* This article originally appeared on WebinTravel.

Spotlight: The Middle East Opportunity

Learn the key trends happening in a market of an incredibly young, social and mobile population at Phocuswright Europe May 15-16.

Source link

from RSSMix.com Mix ID 8312273 https://hashtaghighways.com/2019/04/22/online-payment-solutions-crucial-to-travel-as-middle-east-travelers-book-later-and-more-often/

[ken-research-market-research]

Domestic Bill Payment Market Has Augmented On Account Of Improving Financial Inclusion And Surge In Penetration Of Online Transaction: Ken Research

Domestic Bill Payment Market Has Augmented On Account Of Improving Financial Inclusion And Surge In Penetration Of Online Transaction: Ken Research

Egypt Inbound Remittance Market has intensified due to high Egyptian migration in countries such as Saudi Arabia, Kuwait, UAE, Jordan, and more. Additionally, the increase in mobile users, banking population, and nuclear families are few of the major supporting factors that have helped in the growth of Domestic Remittance and Bill Payment Market in the country.

Transform Evolution in Egypt…

[ken-research-market-research]

Egypt Remittance Market Research Report & Outlook to 2023: Ken Research

Egypt Remittance Market Research Report & Outlook to 2023: Ken Research

The report titled “Egypt Remittance Market Outlook to 2023 – By Inbound and Outbound Remittance, By Transfer Mode (Bank Transfer, Through Friends or Relatives, Through Agent or Courier, Carried Money on Their Visits, and Others), By Banking and Non-Banking Transfer, By Bill Payment Type (Mobile Services, Internet Services, Utilities, and Others), By Bill Payment Mode (Cash Payments, Card…