Fawry and Ottu sign strategic collaboration agreement to drive unprecedented business growth in Egypt
Cairo, Egypt: Fawry, Egypt's leading fintech company, has signed a pioneering Mutual Collaboration Agreement (MCA) with Ottu, the leading Online Payment Management System (OPMS) in the Middle East. Together, Fawry and Ottu aim to redefine Egypt's online payment landscape, empowering businesses with innovative and efficient payment solutions, with Fawry being Ottu's first partner in Egypt.
This strategic alliance creates a significant opportunity for businesses aiming to expand their operations across Egypt. By integrating Fawry's leading payment infrastructure with Ottu's advanced Online Payment Management System (OPMS), organizations can access flexible and secure payment solutions tailored to the evolving needs of this dynamic market. Leveraging Fawry's extensive expertise in Egypt, this collaboration offers valuable local market insights, enabling businesses to streamline payment processes, enhance efficiency, and reduce operational costs while positioning themselves for growth in Egypt's emerging economy.
For her part, Heba El Awady, Chief Business Officer – Acceptance at Fawry commented, 'Our partnership with Ottu strengthens Fawry's position as Egypt's leading payment service provider and reaffirms our ongoing commitment to driving innovation. Together, we are empowering businesses with advanced, secure, and seamless payment solutions, enhancing their ability to thrive in an evolving digital economy.'
Talal Al Awadhi, CEO of Ottu, expressed his enthusiasm about collaborating with Fawry stating: 'Within this strategic partnership, we demonstrate our market expansion goals and focus on delivering advanced payment solutions to help businesses thrive. Our initiatives in Egypt will serve as the cornerstone for expanding our presence beyond the GCC.'
The digital economy across Africa is poised for significant expansion in the coming years, with Egypt's pivotal regional access playing a crucial role. The Fawry-Ottu partnership provides businesses with a powerful competitive edge, equipping them with the tools needed to capitalize on emerging market opportunities in this lucrative marketplace.
About Fawry for Banking Technology and Electronic Payments
Founded in 2008, Fawry is the largest e-payment platform in Egypt serving the banked and unbanked population. Fawry's primary services include enabling electronic bill payments, mobile top-ups and provisions for millions of Egyptian users. Other digital services also include e-ticketing, cable TV, and variety of other services. Through its peer-to-peer model, Fawry is enabling corporates and SMEs to accept electronic payments through a number of platforms including websites, mobile phones, and POSs. With a network of 36 member banks, its mobile platform and more than 372 thousand agents, Fawry processes more than 6 million transactions per day, serving an estimated customer base of 53.1 million users monthly. Learn more at www.fawry.com.
About Ottu
Ottu stands at the forefront of financial technology as a pioneering company committed to transforming the landscape of online payment integration, management, and orchestration for merchants. Ottu's unwavering dedication to innovation, security, and customer-centric solutions has paved the way for strategic partnerships with banks, schemes, and acquirers, enhancing the fintech ecosystem.
Learn more at www.ottu.com.
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