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Globe and Mail
17-05-2025
- Business
- Globe and Mail
Payment Processing Solutions Market Advancing Toward New Milestones, Latest Opportunities, Future Scope, Business Scenario, Share, Key Segments And Forecast To 2028
Payment Processing Solutions Market by Payment Method (Debit Card, Credit Card, ACH, eWallet), Vertical (BFSI, Retail, Healthcare, Telecom, Travel & Hospitality, Real Estate), and Region(North America, Europe, APAC, RoW) - Global Forecast to 2028. The payment processing solutions market is expected to expand at a compound annual growth rate (CAGR) of 9.2% from USD 103.2 billion in 2023 to USD 160.0 billion by 2028. Digital payments have significantly increased as e-commerce and online shopping have grown in popularity. Payment processing solutions are essential for enabling safe and effective transactions and satisfying the rising demand for online payments. Download PDF Brochure@ Based on payment method, the credit card method to hold the largest market during the forecast period. A credit card is a payment card issued by banks or financial institutions to individuals, allowing them to make purchases from merchants and incur agreed-upon charges. It provides a revolving line of credit, enabling cardholders to borrow money for payments or cash advances. Credit cards offer convenience and flexibility, eliminating the need for cash or checks. Cardholders have the option to carry a balance from month to month, subject to interest charges. Different types of credit cards, such as business, secured, prepaid, and digital cards, cater to various needs and preferences. While credit cards provide benefits like rewards programs and enhanced purchasing power, responsible credit management is crucial to avoid excessive debt and interest accumulation. Based on region, Asia Pacific is expected to hold the largest market size during the forecast Asia Pacific consumers in the region prefer seamless and secure digital payment transactions, driving the demand for advanced payment processing solutions. With a growing retail market in Asia Pacific, global payment processing solution providers increasingly focus on this region to offer sophisticated solutions. Countries like China, India, Indonesia, and Malaysia witness a high volume of daily mobile transactions, prompting respective governments to prioritize convenient payment methods. The GSMA's 'The Mobile Economy 2021' report highlights that Asia Pacific has a 42% mobile internet penetration rate, with 1.2 billion people connected to mobile internet by the end of 2020, marking an addition of 200 million new subscribers compared to the previous year. Request Sample Pages@ Unique Features in the Payment Processing Solutions Market Modern payment processors offer seamless integration across multiple channels—online, in-store, mobile, and even voice-assisted devices. This omnichannel capability ensures a unified customer experience and simplifies reconciliation for merchants, making it a standout feature for retailers with diverse sales touchpoints. Sophisticated fraud prevention tools, often powered by AI and machine learning, are a critical differentiator. These systems analyze transaction patterns in real time to flag suspicious activity, reducing chargebacks and enhancing security for both merchants and customers. With the global shift toward instant gratification, real-time payment processing has become a unique feature. Solutions that support real-time settlements, especially through networks like RTP or UPI, offer enhanced liquidity management for businesses and improved customer satisfaction. Many platforms now offer multi-currency support and dynamic currency conversion, making them ideal for businesses operating across borders. Additionally, localized payment method support (e.g., Alipay, SEPA, iDEAL) enhances accessibility in international markets. Major Highlights of the Payment Processing Solutions Market The payment processing solutions market is experiencing robust growth, driven by the global surge in digital transactions. E-commerce expansion, smartphone penetration, and the shift toward cashless economies have significantly accelerated demand for efficient and secure payment solutions across various sectors. Consumer preferences are rapidly evolving, with contactless cards, mobile wallets, and QR code payments becoming mainstream. This trend has prompted payment processors to innovate and support faster, safer, and more hygienic transaction methods, particularly in the wake of the COVID-19 pandemic. Small and medium enterprises are embracing digital payment systems to improve customer experience, streamline operations, and compete with larger retailers. The availability of affordable, plug-and-play payment solutions tailored for SMEs has broadened the market's reach. Fintech startups and digital-first banks are revolutionizing payment experiences with integrated platforms that combine banking, invoicing, and payment processing. Their agile approach and focus on user experience are driving innovation and challenging traditional banking models. Inquire Before Buying@ Top Companies in the Payment Processing Solutions Market The major vendors covered in the payment processing solutions market include PayPal (US), Fiserv (US), FIS (US), Global Payments (US), ACI Worldwide (US), Square (US), Mastercard (US), Visa (US), Adyen (Netherland), Stripe (US), PayU (Netherland), Jack Henry & Associates (US), Paysafe (UK), PhonePe (India), Razorpay (India), Secure Payment Systems (US), Worldline (France), Spreedly (US), Fattmerchant (US), North American Bancard (US), Dwolla (US), CCBill (US), (US), Alipay (China), PayProTec (US), SignaPay (US), Klik & Pay (Switzerland), Finix Payments (US), Due (US), Pineapple Payments (US), Modulr (UK), MuchBetter (UK), Paykickstart (US), AeroPay (US), and Sila (US). PayPal is a globally recognized digital payment platform that provides online payment solutions to individuals and businesses worldwide. PayPal is a leading technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants across the globe. The company operates through two segments: the business segment and the reportable segment. It offers a range of payment solutions, including PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The company has established itself as a popular payment platform due to its ease of use and security features. PayPal allows customers to send and receive payments online quickly and securely, making it a preferred payment option for online transactions, particularly in eCommerce. Additionally, PayPal's payment processing fees are transparent, and the platform is compatible with various currencies, making it an attractive choice for businesses that require a flexible payment processor. PayPal's business model is centered on charging fees for its payment services, typically a percentage of the transaction value and a fixed fee per transaction. Fiserv is a leading global provider of financial services technology solutions. The company offers a wide range of software, hardware, and professional services to banks, credit unions, investment firms, and other financial institutions. Fiserv's solutions are designed to help these institutions improve operational efficiency, reduce costs, and enhance customer experience. The company engages in the provision of financial services technology. It operates through the Payments, Financial, Corporate, and Other segments. The Payments segment primarily provides electronic bill payment and presentment services, internet and mobile banking software and services, account-to-account transfers, person-to-person payment services, debit and credit card processing and services, payments infrastructure services, and other electronic payments software and services. The Financial segment provides financial institutions with account processing services, item processing, source capture services, loan origination and servicing products, cash management and consulting services, and other products and services supporting numerous types of financial transactions. The Corporate and Others segment consists of intercompany eliminations, amortization of acquisition-related intangible assets, unallocated corporate expenses, and other activities that are not considered when management evaluates segment performance, such as gains on sales of businesses and associated transition services. Adyen is a prominent player in the Payment Processing Solutions Market, providing a comprehensive, end-to-end platform that supports a wide range of payment methods and currencies globally. Adyen's solutions are designed to facilitate seamless, secure transactions for merchants both online and in-store, enhancing the customer payment experience. The platform integrates with various payment methods, including credit cards, mobile wallets, and local payment options, ensuring broad acceptance and flexibility. With advanced fraud detection, data analytics, and scalable infrastructure, Adyen empowers businesses to optimize their payment processes, reduce operational complexity, and drive growth in the rapidly evolving digital commerce landscape. FIS is a leading provider in the Payment Processing Solutions Market, offering a broad range of financial technology services to institutions worldwide. FIS's payment processing solutions encompass everything from traditional credit and debit card processing to advanced digital payment technologies, catering to both in-person and online transactions. Their platform supports seamless integration with various payment methods, ensuring security, scalability, and compliance with regulatory standards. Additionally, FIS provides robust fraud prevention tools and comprehensive analytics to help businesses enhance transaction security, optimize payment processes, and improve customer experiences, positioning itself as a critical player in the evolving financial services landscape. Mastercard is a prominent player in the Payment Processing Solutions Market, offering a wide array of payment technology solutions that facilitate secure and efficient transactions globally. Their services include credit, debit, and prepaid card processing, as well as digital payment solutions and mobile payment technologies. Mastercard's extensive network and advanced fraud prevention tools ensure secure transactions for consumers and businesses alike. Additionally, their innovative solutions, such as Mastercard Send and the Mastercard Digital Enablement Service (MDES), enhance real-time payments and tokenization, respectively. With a strong focus on innovation and security, Mastercard continues to lead in providing comprehensive payment processing solutions across various industries.
Zawya
02-03-2025
- Business
- Zawya
Fawry releases FY2024 results
RELATED TOPICS EARNINGS RELATED COMPANIES Icg Mf 2003 No1 Fawry Fawry EGP 53 Pagando Fawry Icg Mf 2003 No.1 PrepaYd Forte Supply Chain Solutions Fawry continues its stellar performance, achieving outstanding growth with year-over-year revenue increase of 68.4% for FY2024 and 124.6% for the bottom-line for the same period, which reflected in the highest FY EBITDA and net income margins since the company's inception, 49.9% and 29.2%, respectively. Cairo, Egypt; Fawry (the 'Company', on the Egyptian Exchange), Egypt's leading provider of e-payments and digital finance solutions, announced today its consolidated results for the quarter ended 31 December 2024. The Company booked revenues of EGP 5,510.6 million in FY2024, up by 68.4% year-on-year (y-o-y). Strong top-line performance was driven by the expansion and diversification of the Company's business offerings, which alongside effective cost control measures resulted in robust profitability margins leading to a net profit growth of 124.6% to reach EGP 1,606.7 million. Net profit for the quarter stood at EGP 500.1 million, up by an impressive 118.6% y-o-y yielding an associated net profit margin (NPM) of 30.0%. Summary Profit & Loss Statement – Fourth Quarter (EGP 000s) 4Q2023 3Q2024 4Q2024 Y-o-Y Change Q-o-Q Change Total Revenues 954,691 1,545,882 1,665,373 74.4% 7.7% Alternative Digital Payments (ADP) 336,448 481,996 460,939 37.0% -4.4% Banking Services 384,453 662,052 717,900 86.7% 8.4% Acceptance 188,537 312,428 408,065 116.4% 30.6% Agent Banking 195,916 349,623 309,835 58.1% -11.4% Financial Services 142,301 277,169 358,777 152.1% 29.4% Supply Chain Solutions 64,912 93,277 93,839 44.6% 0.6% Technology & Others 26,577 31,389 33,919 27.6% 8.1% Gross Profit 612,727 1,025,105 1,080,034 76.3% 5.4% Gross Profit Margin 64.2% 66.3% 64.9% 0.7 pts (1.5 pts) EBITDA 1 406,669 802,612 867,737 113.4% 8.1% EBITDA Margin 42.6% 51.9% 52.1% 9.5 pts 0.2 pts Net Profit Before NCI 259,757 519,473 543,681 109.3% 4.7% Net Profit After NCI 228,797 477,775 500,108 118.6% 4.7% Net Profit Margin 24.0% 30.9% 30.0% 6.1 pts (0.9 pts) 1 EBITDA - The Company defines EBITDA as its EAS operating profit, excluding: (a) depreciation, amortization, provisions; (b) noncash ESOP expense included in EAS net profit; (c) interest income not related to the operating cycle; (d) taxes; (e) leasing charges; and certain other non-operating costs including provisions. 2 Financial services Revenue – Include MSME lending, Consumer finance, Insurance brokerage, Prepaid Card and Money market fund revenues. All except for Microfinance have been reallocated from Others. Summary Profit & Loss Statement – Full Year (EGP 000s) FY 2023 FY 2024 2024 Y-o-Y Change Total Revenues 3,272,016 5,510,620 68.4% Alternative Digital Payments (ADP) 1,268,491 1,708,038 34.7% Banking Services 1,261,384 2,312,054 83.3% Acceptance 609,304 1,196,947 96.4% Agent Banking 652,080 1,115,108 71.0% Financial Services 426,407 1,013,634 137.7% Supply Chain Solutions 226,309 347,188 53.4% Technology & Others 89,424 129,706 45.0% Gross Profit 2,061,822 3,622,303 75.7% Gross Profit Margin 63.0% 65.7% 2.7 pts EBITDA 1 1,318,230 2,747,140 108.4% EBITDA Margin 40.3% 49.9% 9.6 pts Net Profit Before NCI 815,968 1,749,062 114.4% Net Profit After NCI 715,338 1,606,652 124.6% Net Profit Margin 21.9% 29.2% 7.3 pts 1 EBITDA - The Company defines EBITDA as its EAS operating profit, excluding: (a) depreciation, amortization, provisions; (b) noncash ESOP expense included in EAS net profit; (c) interest income not related to the operating cycle; (d) taxes; (e) leasing charges; and certain other non-operating costs including provisions. 2 Financial services Revenue – Include MSME lending, Consumer finance, Insurance brokerage, Prepaid Card and Money market fund revenues. All except for Microfinance have been reallocated from Others. Financial & Operational Highlights Throughput value maintained its upward momentum, up 72.9% year-on-year to EGP 601.7 billion in FY2024, supported by the company's ability to broaden its portfolio to address a diverse user base in Egypt. The company's gross loan portfolio for both MSMEs and Consumers by end of 2024 came 2.6x that of 2023, surpassing EGP 3.1 billion. Fawry's top-line increased by 68.4% year-on-year, marking its highest growth rate since 2015, reaching EGP 5,510.6 million in FY2024. While for 4Q2024, topline year-on-year growth recorded a whopping 74.4%. This robust performance was driven by strong results across the company's business lines. The ADP segment experienced substantial year-on-year growth of 34.7%, fueled by the continuous addition of new billers, expansion of Point of Sale (POS) services, increased engagement with customers and merchants, and a rise in average ticket sizes driven by price increases in select industries. Despite this growth, ADP's contribution decreased to 31.0% in FY2024 from 38.8% in FY2023 as other revenue streams continued to grow. As a testament for the company's success in its revenue diversification strategy, Banking services saw revenues increase by 83.3% year-on-year, financial services surged by 137.7% year-on-year, supply chain solutions experienced a notable year-on-year increase of 53.4%, and the technology and other sectors grew by 45.0% year-on-year. EBITDA more than doubled in FY2024 to EGP 2,747.1 million, reaching an EBITDA margin of 49.9%, with an EBITDA margin expansion of 9.6 ppts year over year, reflecting the company's success in growing its revenue streams while capitalizing on service synergy and improving operational cost efficiency. It is worth mentioning that the EBITDA margin has gone up by 19.2% vs. FY2022. Fawry's bottom-line increased by an impressive 124.6% year-on-year to EGP 1,606.7 million in FY2024, reflecting both revenue growth and EBITDA margin enhancement. Chief Executive's Review I am thrilled to share our FY2024 results, where we have once again exceeded market expectations, achieving unprecedented growth across both revenue and profitability. Our continued success reflects our commitment to expanding and diversifying our offerings across multiple verticals, advancing our long-term strategy for value creation and revenue diversification. Fawry's top-line surged by 68.4% year-on-year in FY2024, while profitability remained strong, with an exceptional EBITDA margin of 49.9% (+9.6 points)—the highest since the company's inception. Bottom-line growth reached 124.6%, with an associated margin improvement of 7.3 percentage points to 29.2%, also marking an all-time high. These achievements were driven by increased customer engagement, revenue diversification, enhanced cross-selling initiatives, and cost-control measures. Banking Services remained a primary driver of revenue growth, achieving an impressive 83.3% year-on-year increase, reflecting our strategy to diversify revenue streams and enhance financial inclusion. Financial Services for MSMEs and Consumers saw exceptional momentum, with neobanking services fueling a 137.7% year-on-year revenue increase in FY2024. This growth was propelled by the launch of SME lending services and the Overdraft (BNPL for Business) product, leading to a 102.2% increase in the MSME gross loan portfolio, now reaching EGP 2.1 billion. Fawry's Consumer BNPL portfolio continued its strong expansion, surpassing EGP 1.0 billion as of December 31, 2024. This growth is further propelled by the increasing capabilities of the myFawry app, which has evolved into a comprehensive financial platform. The seamless integration of Prepaid Cards, BNPL services, and the Money Market Fund 'Fawry Yawmy,' along with the recent addition of Emergency and Medical insurance options, has significantly enhanced the app's value proposition. These strategic enhancements have cemented Fawry's position as a leading provider of holistic financial solutions, driving a threefold year-on-year increase in myFawry's throughput to EGP 26.8 billion. Our Alternative Digital Payments segment maintained robust growth of 34.6% year-on-year, reinforcing its role as the backbone of our digital ecosystem. Additionally, our Supply Chain Solutions division recorded a 53.4% increase in revenue, further cementing Fawry's transformation into a comprehensive financial services ecosystem. Operationally, Fawry delivered outstanding performance in FY2024, with mobile wallet transactions increasing by 53.9% year-on-year, and total processed value via mobile wallets growing by 155.7% y-o-y to EGP 486.3 billion. As we look to the future, our focus remains on building a multi-sided platform that fosters seamless interactions across our network. Through continuous innovation and service expansion, we are committed to addressing the diverse needs of our customers while driving financial inclusion for Egypt's unbanked and underserved communities. We are also particularly excited about the launch of 'Fawry Business', which will significantly enhance our position as a one-stop digital business solutions provider. By expanding Fawry Business capabilities in ERP and financial management tools, integrating seamless digital payment solutions, and developing tailored fintech innovations for SMEs and large enterprises, we are paving the way for a more interconnected and efficient digital economy. FY2024 has been a landmark year for Fawry, and we remain steadfast in our mission to drive innovation, expand access to financial services, and deliver long-term value for all stakeholders. Operational Developments Operational KPIs FY2023 FY2024 Change % Active Network Customers (mn) 51.7 53.1 2.7% Total POS Terminals ('000) 331.4 372.4 12.4% Acceptance Enabled POSs ('000) 287.2 335.2 16.7% Banks Active and Contracted 36 36 n/a myFawry App Total Downloads ('000) 12,166 17,340 42.5% Services Provided 3,165 3,708 17.2% Transactions (mn) 1,608 1,930 20.0% Mobile Wallet Transactions (mn) 156 240 53.9% Mobile Wallet Processed Value (EGP bn) 190.2 486.3 155.7% Total Throughput Value (EGP mn) 348,067.7 601,723.1 72.9% Fawry's total throughput value reached EGP 601.7 billion in FY2024, up by a significant 72.9% from the EGP 348.1 billion booked in FY2023. Fawry's completed transactions during the first FY2024 reached 1,930 million transactions, up by 20.0% y-o-y from the 1,608 million handled in the same period in the previous year. Fawry saw a 12.4% y-o-y growth in its retail network, reaching 372.4 thousand POS terminals by end of FY2024, up from the 331.4 thousand by end of FY2023. This expansion underscores the success of the Company's efforts to provide POS technology to its partners. Acceptance-enabled POSs throughout the Company's network stood at 335.2 thousand by end of December 2024, up by 16.7% y-o-y from the 287.2 thousand by end of December 2023. Acceptance-enabled POS terminals allow merchants and small businesses to embrace a wider range of payment methods, including but not limited to debit and credit cards. Fawry processed a total of 240 million mobile wallet transactions during FY2024, up by an impressive 53.9% y-o-y from the 156 million transactions recorded in FY2023. In value terms, the total mobile wallet processed value increased 155.7% y-o-y to reach EGP 486.3 billion compared to the EGP 190.2 billion booked in FY2023. [1] Cumulative downloads of Fawry's consumer-facing myfawry mobile application rose by 42.5% y-o-y to 17.3 million as of FY2024 compared to the 12.2 million downloads as of FY2023. With the integration of Prepaid Cards, BNPL services, and the Money Market Fund last year, along with the recent addition of Emergency and Medical Insurance, Fawry is steadily evolving into a full-fledged Neobank. These enhancements have significantly enriched the myFawry app, offering users a comprehensive suite of financial services tailored to their diverse needs. This strategic expansion not only strengthens Fawry's position as a holistic financial solutions provider but also ensures it continues to adapt to the evolving demands of Egyptian consumers while driving greater financial inclusion. myfawry's annualized throughput stood at EGP 26.8 billion in FY2024, a notable y-o-y increase of 237.9% from the EGP 7.9 billion reached in FY2023. The growth in annualized throughput reflects the accelerated adoption of digital payment methods among Egyptian consumers. Fawry maintains its dedication to expanding its portfolio to cater to the varied needs of its user base in Egypt, encompassing Small and Medium Enterprises (SMEs). This diversification encompasses offerings such as Yellowcard, employee insurance packages, Payout and Payroll solutions and HR and Accounting solutions, broadening its lending capabilities beyond the microfinance scope. Consolidated Financial Performance Fawry reported total revenues of EGP 5,510.6 million in FY2024, a significant increase of 68.4% from the EGP 3,272.0 million recorded during FY2023. This impressive growth is primarily fueled by the Banking Services and Financial Services segments, which contributed 46.9% and 26.2%, respectively, to the year-on-year revenue increase. On a quarterly basis, Fawry achieved a remarkable 74.4% year-on-year revenue growth, reaching EGP 1,665.4 million in 4Q2024, further reinforcing its strong market momentum and diversified revenue streams. During 2024, Fawry reported gross profit of EGP 3,622.3 million, up by 75.7% compared to the EGP 2,061.8 million recorded in the corresponding period last year, resulting in a gross profit margin (GPM) of 65.7% vs. 63.0% in FY2023. The improved profitability margins stem from accelerated revenue growth and extensive expansion across high margin segments, delivering on the company's revenue diversification strategy, coupled with effective revenue management and cost synergies among Fawry's business lines. As for 4Q2024, gross profit came at EGP 1,080.0 million up by 76.3% y-o-y and resulting into a gross profit margin of 64.9% for the period compared to 64.2% recorded in 4Q2023. EBITDA for the full year stood at EGP 2,747.1 million, up by an impressive 108.4% from the EGP 1,318.2 million recorded during FY2023. Fawry booked an EBITDA margin of 49.9% during the period, up by 9.6 percentage points y-o-y, the highest since the company's inception, highlighting the resulting benefits from the Company's strategic cost control measures and enhanced operational efficiency. Similarly on Quarterly basis EBITDA margin reached 52.1%, with EBITDA growing by 113.4% on a y-o-y basis to reach EGP 867.7 million. Net profit after NCI recorded EGP 1,606.7 million in FY2024, a 124.6% y-o-y increase from the EGP 715.3 million reported in the previous year. Fawry's NPM stood at 29.2% in FY24, showing a 7.3 percentage point improvement from the 21.9% booked the previous year. While for 4Q2024, net income doubled reaching EGP 500.1 million from EGP 228.8 million recorded in 4Q2023, this led to a net income margin expansion by 6.1 percentage points y-o-y for the quarter to reach 30.0%. Segments Overview Alternative Digital Payments Fawry's Alternative Digital Payments (ADP) segment recorded revenues of EGP 1,708.0 million in FY2024, up by 34.7% y-o-y from the EGP 1,268.5 million in FY2023. While for 4Q2024, ADP revenue grew by 37.0% y-o-y to reach EGP 460.9 million. The growth witnessed in FY2024 marks ADP's highest year-on-year growth rate since 2019. This surge is attributed to Fawry's continuous addition of new billers, expansion of Point of Sale (POS) services, increased engagement with customers and merchants to enhance existing POS activity, and the rise in average ticket sizes, driven by price increases in select industries. ADP is no longer the largest contributor to Fawry's top line, with the shift underscoring the growth of other segments and further emphasizing the ongoing successful evolution of the business towards an ecosystem model that integrates a diverse range of value-added services beyond ADP. The segment's growth accounted for 19.6% of the y-o-y increase in Fawry's overall top-line for FY2024. Banking Services Banking Services booked revenues of EGP 2,312.0 million in FY2024, a notable increase of 83.3% y-o-y from the EGP 1,261.4 million booked in FY2023. This growth was fueled by expansions in both the Agent Banking and Acceptance segments. Banking services throughput value increased by 103.3% y-o-y amounting to EGP 372.0 billion in FY2024. 4Q2024 revenue figures came at EGP 717.9 million up by 86.7% y-o-y, while throughput went up by 111.8% y-o-y. The Agent Banking business reported revenues of EGP 1,115.1 million in FY2024, up by a significant 71.0% y-o-y. The Agent Banking business recorded a throughput value of EGP 204.5 billion during the period, an increase of 91.8% y-o-y. Fawry's Acceptance business booked revenues of EGP 1,196.9 million in FY2024, up by 96.4% y-o-y from the EGP 609.3 million booked during FY2023. In parallel, Acceptance throughout doubled to EGP 167.6 billion in FY2024 from the EGP 76.4 billion booked in the same period of the previous year. The increase of the quantity of acceptance-enabled POS terminals contributed to the growth of the business, yet more importantly, the surge in acceptance throughput per POS and online transactions. Financial Services Fawry has expanded its service portfolio to include a variety of Financial Services, such as SME lending, microfinance, BNPL for Business , consumer finance (BNPL), insurance brokerage, and the myFawry prepaid card. The Financial Services segment's top-line revenue more than doubled in FY2024, reaching EGP 1,013.6 million, compared to EGP 426.4 million in FY2023. This growth was driven by the nearly twofold increase in the MSME lending business and strategic expansions in consumer finance, insurance brokerage, prepaid cards, and money market funds (MMF). In 2024, Fawry launched SME lending after securing an SME lending license to meet the financing needs of the SME sector. This initiative builds on the January introduction of Overdraft facilities (BNPL for Business), tailored for Fawry merchants requiring small-ticket loans with short tenures. Outstanding loans in Fawry's MSME portfolio doubled on a year over year basis, surpassing EGP 2.0 billion as of 31 December 2024. Insurance Brokerage revenue rose to EGP 35.4 million in FY2024, representing a 71.1% year-over-year increase. Notably, the company launched the "Sehetak Fawry" medical insurance product in October 2024 The Consumer Finance (BNPL) services have continued their upward trajectory since launch, with the loan portfolio reaching EGP 1,023 million as of 31 December 2024, compared to EGP 180 million for the same period in 2023. Supply Chain Solutions By leveraging strong synergies between its extensive retail network and the merchant bases of FMCG, manufacturing, and e-commerce companies, Fawry's Supply Chain Solutions plays a crucial role in digitizing B2B transactions and payments among merchants, sales agents, and suppliers. In FY2024, the segment delivered robust revenue growth, reaching EGP 347.2 million, marking a 53.4% increase from EGP 226.3 million in FY2023. On a quarterly basis, revenues surged to EGP 93.8 million in 4Q2024, reflecting a 44.6% increase from EGP 64.9 million in 4Q2023, further reinforcing Fawry's leadership in digital supply chain transformation. INVESTOR RELATIONS CONTACT For further information, please contact: Hassan Abdelgelil Director of Investor Relations Building 221 – F12 – Financial district – Smart Village As of 31/12/2024 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 -Ends- [1] These figures reflect total processed value and transactions from bank and operators' wallets processed on the Fawry Network and not included in the company's total throughput.
