Egypt's Tanmeyah Collaborates With Fawry For Banking Technology

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Tanmeyah for financing small and micro enterprises signed a cooperation agreement with Fawry for banking technology and electronic payments this week with the aim of facilitating the electronic collection process for Tanmeyah customers.

Tanmeyah customers will be able to pay all their payments and instalments throughout the week without being restricted to the appointments of the branches through Fawry’s various channels, such as Fawry’s 268,000 machines, which are spread out across all governorates of Egypt as well as 161 branches of Fawry Plus and the myfawry app.

The agreement comes in implementation of Tanmeyah’s strategy to expand its electronic payment network to facilitate existing and potential customers.

Hossam Al-Naggar, CEO and Managing Director of Tanmeyah said that cooperation with Fawry to facilitate the electronic payment process for the company’s broad customer base — which amounted to 392,000 customers in 25 governorates across 307 branches with a portfolio size of EGP 3.9bn by the end of the first quarter (1Q) of 2022 — is in line with the company’s expansion strategy in the coming years, which was designed with the country drive to digitise in mind.

Hossam Ezz, CEO of the Commercial Sector at Fawry, said: Fawry is working on a strategy of expanding cooperation with different companies from many sectors to help companies in the process of digital transformation and financial inclusion to collect their financial transactions and help corporate customers pay their digital payments smoothly and easily through payment channels.”