Fawry MSME facilities EGP 2B worth of transactions via Alnota since early 2024
Updated 12/3/2024 10:14:00 AM
Arab Finance: Fawry MSME, a fully owned subsidiary of Fawry, has facilitated 750,000 transactions with a total value of EGP 2 billion since the beginning of 2024 via its buy now, pay later (BNPL) digital solution for Fawry merchants, “Alnota” Overdraft, as per a press release.
Onboarding over 50,000 merchants to its service, Alnota connects merchants with their suppliers.
As Egypt’s first BNPL offering specifically designed for merchants, the innovative solution highlights Fawry’s ongoing commitment to pioneering the embedded finance era and leveraging its robust network to cross-sell services and expand its platform.
Alnota supports merchants' working capital needs, offering a maximum limit of up to EGP 150,000 that they can use for a predefined range of Fawry services and supplier payments.
“We have entered a new era of digital lending with Alnota Overdraft, which has already simplified daily business operations for over 50,000 Fawry merchants,” Alexander Levchenko, CEO of Fawry MSME, commented.
“Alnota Overdraft opens new opportunities for Fawry to collaborate with diverse suppliers across Egypt, further strengthening our position in the ecosystem. This milestone further strengthens Fawry’s leadership in financial innovation and its role as a key enabler of digital transformation in Egypt’s economy,” Ashraf Sabry, CEO of Fawry, said.
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