Mohamed Okasha, managing director of Fawry e-payments, said that the company injected EGP 90m last year to improve the efficiency of its technological structure, to guarantee the quality of its electronic payment services which it provides.
I a press statement, Okasha announced that Fawry’s network sees about 2m e-payment transactions, while the new development will help Fawry to reach 6m transactions every day.
Fawry’s network provides electronic payment services for several sectors, including the telecom sector, WE, and Internet companies, as well as utility bills’ payments, and social housing instalments.
An international alliance composed of several investment companies bought most of Fawry’s shares in 2015, in a deal worth $100m.
Fawry was founded in 2010 to offer e-payment services for all four mobile operators: Vodafone, Orange, Etisalat, and WE, as well as electricity companies, nine water distribution companies, along with the traffic prosecution department through providing online payment services and license renewal, among other services in the Egyptian market.