Fawry partners with MoneyHash

Monday 6 November 2023 14:10 CET | News

Egypt-based Fawry has announced its collaboration with MoneyHash to improve payment experiences in the region.

With its payment and revenue operations platform, MoneyHash aims to eliminate the complexity and resource-intensive tasks involved in developing, optimising, and expanding the payment infrastructure. Through this collaboration, the two companies intend to accelerate the growth opportunities for businesses at various stages of development in Egypt.

Egypt-based Fawry has announced its collaboration with MoneyHash to improve payment experiences in the region.

The partnership’s objective

By combining MoneyHash’s payment orchestration capabilities with Fawry’s knowledge of payment gateways, merchants can accelerate their go-to-market strategies, reduce losses from fraudulent transactions, and improve their checkout experience for higher conversion rates. With solutions customised to the specific payment landscape of the region, customers can also streamline and automate their payment procedures, while improving user experiences, reducing payment failures, and managing risk effectively.

Together, the two companies will provide technical support services, as well as discounts for customers utilising Fawry electronic payment channels through MoneyHash. According to Fawry’s officials, the partnership plans to add value to the electronic payments market and the field of banking technology. Moreover, the cooperation helps accelerate the digital transformation and achieve financial inclusion in the Egyptian market by providing a suite of digital services and payment solutions.

Representatives from MoneyHash confirmed that this is one of the company’s first integrations offering special rates, support, and coordinated technical solutions. The collaboration also supports Fawry and MoneyHash’s commitment to enhance the payment infrastructure in emerging markets. 

More information about MoneyHash

Operating in the Middle East and Africa, MoneyHash provides flexible payments and revenue operations platform that aims to cover the payment needs of its customers. The company’s objective is to enable businesses in emerging markets by reducing the complexity and effort of developing and maintaining payment infrastructure, flows, and operations. MoneyHash’s platform supports businesses with the tools and microservices to connect with payment service providers, build payment features, create and manage transaction routing and recovery rules, and centralise reporting with no code operations.

Currently, the company is backed by regional and global investors, including Kepple Africa Venture, Ventures Platform, COTU Ventures, The Continent Venture Partners, VentureFriends, and Nuwa Capital, among others. 

About Fawry

As an e-payment platform, Fawry caters to both the banked and unbanked population, facilitating electronic bill payments, mobile top-ups, and several other digital services, including e-ticketing and cable TV. The company allows corporates and SMEs to accept electronic payments via multiple platforms such as websites, mobile phones, and POS terminals. Currently, Fawry has a network of 36 member banks, over 310,000 agents, and a mobile platform, processing an average of 4 million transactions daily, while serving an estimated customer base of 50 million users quarterly. 

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Keywords: partnership, financial services, financial inclusion, online payments, mobile payments
Categories: Payments & Commerce
Companies: Fawry, MoneyHash
Countries: Egypt
This article is part of category

Payments & Commerce




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