Fawry, Egypt’s leading e-payment solutions provider (FWRY.CA on the Egyptian Exchange), has announced a major achievement by its fully owned subsidiary, Fawry MSME, through its innovative “Alnota” Overdraft BNPL (Buy Now, Pay Later) solution for merchants.
This digital service has surpassed EGP 2 billion in total loan transactions, facilitating 750,000 transactions since the beginning of the year.
The solution, which enables Fawry merchants to connect digitally with their suppliers, marks Egypt’s first BNPL offering specifically designed for merchants. This milestone reflects Fawry’s commitment to driving the era of embedded finance, expanding its platform, and providing integrated services to its network.
Key Features of Fawry’s “Alnota” Overdraft
Enabling Access to Working Capital
“Alnota” Overdraft provides merchants with an embedded digital credit limit, accessible directly via their POS terminals at the point of payment.
This facility allows merchants to manage their working capital needs with a limit of up to EGP 150,000. The service is designed to support supplier payments and is available for a range of Fawry services.
Free Onboarding and Seamless Experience
The onboarding process for “Alnota” is entirely free of charge, and the service delivers a fully digital, seamless, and user-friendly experience. Transactions, including bill payments and B2B dealings, are converted into short-term loans with repayment periods ranging from 3 to 15 days.
A Vision for Digitizing Egypt’s Economy
Transforming Business Operations for Merchants
According to Alexander Levchenko, CEO of Fawry MSME, “Alnota Overdraft has entered a new era of digital lending, simplifying daily operations for over 50,000 merchants.
Our goal to digitize Egypt’s economy and connect key market players is becoming a reality, with ‘Alnota’ playing a crucial role in that journey.”
Strengthening Fawry’s Position in the Ecosystem
Ashraf Sabry, CEO of Fawry, highlighted that “This innovation showcases Fawry’s creativity in connecting merchants with their suppliers, opening up new collaboration opportunities across Egypt. The ‘Alnota’ Overdraft milestone reinforces Fawry’s leadership in financial innovation and its essential role in Egypt’s digital transformation.”
These subheadings and keywords help break down the key aspects of Fawry’s digital BNPL solution, its impact, and the company’s role in the digital transformation of Egypt’s economy.
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