In a significant step towards enhancing financial inclusion and digital transformation, Fawry, Egypt’s leading e-payments solutions provider, in collaboration with Banque Misr and the Egyptian Banks Company for Technological Advancement (EBC).
has launched a new interoperable cash in and out service for e-wallets via the Meeza Digital Scheme. This initiative enables customers with e-wallets from any bank or financial institution to conveniently deposit and withdraw cash at electronic points of sale (POS) available through Fawry’s extensive nationwide network.
Driving Digital Transformation & Expanding Financial Access
With this new service, Fawry reinforces its leadership in Egypt’s fintech market, providing secure, efficient, and accessible financial services to a broader audience. Customers can deposit or withdraw funds with a maximum transaction limit of EGP 4,000 at Fawry’s network of POS locations and FawryPlus branches across the country.
This strategic collaboration between Fawry, Banque Misr, and EBC marks a significant advancement in Egypt’s financial services sector, offering innovative, user-friendly payment solutions that contribute to economic growth and digital transformation. The service not only provides individuals with more financial options but also instills confidence in the economic system and encourages investment.
Industry Leaders Comment on the Launch
Tarek Zohairy, Chief Commercial Officer – Financial Services & Digital Solutions at Fawry, expressed pride in this
landmark achievement, stating:
“This partnership with Banque Misr and EBC is a major step forward in expanding financial inclusion across Egypt. At Fawry, we are committed to ensuring that financial technology is accessible, secure, and seamless, allowing everyone to participate in the digital economy effortlessly, anytime and anywhere.”
Mohamed Shawky, Deputy Business Development GM at EBC, emphasized the role of innovation in making
financial transactions more accessible and efficient, adding:
“At EBC, we believe that technology is the key to transforming financial services. Our collaboration with Fawry and Banque Misr in launching this interoperable cash in and out service ensures a seamless experience for users, contributing to Egypt’s digital future and strengthening its position as a global investment destination.”
Banque Misr’s Commitment to Digital Expansion
As a key player in Egypt’s financial landscape, Banque Misr takes pride in its strategic partnerships that support financial inclusion initiatives.
The bank’s involvement in launching this service aligns with its mission to expand digital services, ensuring that customers can manage financial transactions smoothly, securely, and efficiently. Banque Misr continues to play a pioneering role in supporting the Egyptian economy, working alongside key stakeholders to encourage electronic payments and reduce reliance on cash transactions.
Nationwide Rollout & Future Expansion
Currently, the cash deposit and withdrawal service for e-wallets is available at all Fawry branches, specializing in banking and electronic payment technology across Egypt. In the coming months, the service will expand to include Fawry’s entire network of POS terminals, including retail distribution points, ensuring broader accessibility for customers nationwide.
A Step Towards Egypt’s Vision 2030
This successful collaboration between Fawry, Banque Misr, and EBC underscores their commitment to developing innovative financial solutions that align with Egypt’s Vision 2030.
By enhancing financial inclusion and promoting digital payments, this initiative supports the country’s long-term economic development and paves the way for a more inclusive financial ecosystem.
