Fawry partners with FORSA to provide "Buy Now, Pay Later" services through its POS machines
The partnership aims to offer seamless, secure, and more convenient services that meet the needs of various customers segments by providing Buy Now, Pay Later (BNPL) options, in addition to installment services via Fawry's 395,000+ point-of-sale (POS) machines across the country. This collaboration will also support merchants by enabling them to benefit from FORSA's services, streamlining their daily operations, and expanding their customer base through Fawry's extensive network.
Commenting on the partnership, Bassem Lotfy, Head of Business Development at Fawry, said: "At Fawry, we are keen to expand our operations by collaborating with many flexible financial entities like FORSA, which reflects our commitment to providing diverse and secure digital solutions that support both merchants and customers. These partnerships create added value for Fawry network and contribute to our main goal of enhancing the end-user experience."
For his part, Gasser Darwish, Chief Commercial Officer at FORSA, stated: "At FORSA, we aim to expand the reach of installment and BNPL services in the Egyptian market, to offer more flexible options to customers. Our partnership with Fawry will play a pivotal role in reaching a larger segment of merchants and customers. We recognize the necessity and importance of integrating financing services at the point of sale (POS), and we are committed to continuing these efforts in the coming period to simplify the purchase experience for customers."
It is worth noting that this partnership is part of Fawry's strategy to expand its collaboration with major financial institutions in the Egyptian market. The partnership between the two companies will extend to include e-payment solutions and other financing services, enhancing the integration of Fawry's digital financial offerings and advancing financial inclusion in Egypt.
About Fawry:
Founded in 2008, Fawry Egypt's leading fintech company 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 few platforms including websites, mobile phones, and POSs. With a network of 36-member banks, its mobile platform and 396 thousand agents, Fawry processes more than 6 million transactions per day, serving an estimated customer base of 53.8 million users monthly. Learn more at www.fawry.com.
About FORSA
FORSA is a user-friendly mobile application based on the Buy Now, Pay Later model. After downloading the app and applying for a credit limit, once approved, customers can purchase all their needs, whether goods or services, from a range of merchants and service providers available on the app through a simple and easy process.
It is worth noting that FORSA is a mobile application owned by Drive Finance, offering diverse financial services and flexible installment plans for its customers. FORSA's business model reflects several core values, including diversity, offering varied financing options through different partnerships, as well as simplicity and speed in financing and installment procedures, as well as in using the app overall.
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