Fawry’s BNPL business surpasses EGP 1B in over a year
Updated 10/1/2024 10:41:00 AM
Arab Finance: Fawry for Banking Technology and Electronic Payment’s buy now, pay later (BNPL) business has exceeded EGP 1 billion in total disbursement as of September 2024, as per a press release.
The company has achieved this figure in just over a year following the official launch of the BNPL service.
This remarkable milestone was driven by Fawry’s vast customer base, with more than 10 million downloads of the myFawry app at the launch time of the service.
“This achievement is a clear testament to the company’s ability to leverage its existing consumer base while introducing innovative services that cater to underserved segments of the population,” Ashraf Sabry, Chief Executive Officer of Fawry, commented.
“It further underscores Fawry’s position as a trailblazer in financial inclusion and embedded finance in Egypt,” he added.
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