How Fawry Made Bank In Fledgling Foray Into Tricky BNPL Scene
Free Reads How Fawry Made Bank In Fledgling Foray Into Tricky BNPL Scene By Staff Reporter | October 5, 2024 Egypt’s leading fintech company, Fawry, has marked a significant milestone by surpassing EGP 1 B (~USD 20 M) in total Buy Now, Pay Later (BNPL) disbursements just over a year after launching the service. The BNPL sector, which allows consumers to spread payments over time without upfront costs, has been booming worldwide. Fawry, long established as a payments platform with services like bill payments, mobile top-ups, and e-commerce, saw an opportunity to expand into consumer finance, introducing BNPL as part of its growing portfolio in mid-2023. The quick uptake of the service points to strong demand in Egypt for flexible financial solutions, especially amid economic challenges. CEO Eng. Ashraf Sabry emphasised the significance of this achievement, stating, “This milestone is a testament to the company’s ability to leverage its existing consumer base while introducing innovative services that cater to…
5 Oct 07:00 · WeeTracker