Arab Finance: Fawry for Banking Technology and Electronic Payment has teamed up with Crystal Pay, the specialized digital payments arm of Crystal Mind, to launch an integrated payment solution for merchants, according to a press release.
The partnership will integrate Fawry’s payment acceptance point-of-sale (POS) terminals with Crystal Mind’s POS system, allowing businesses to process sales transactions and accept digital payments through a unified platform.
The new solution leverages the integration of Fawry’s POS system with Crystal Mind’s POS system to enable the automatic and secure transfer of transaction data between the POS system and Fawry's payment terminals.
It eliminates the need for manual data entry and minimizes human error. It also streamlines financial auditing and reconciliation by updating transaction statuses in real time and generating synchronized financial records.
The solution is designed to boost operational efficiency across sectors, including hospitality, retail chains, and hypermarkets by accelerating checkout processes and simplifying payment collection and reconciliation.
Moreover, the partnership aims to expand the rollout of this integrated solution across a wider merchant base in various sectors, while continuing to develop new features and services that meet growing market demands.
This comes as part of Fawry’s ongoing commitment to empowering businesses to adopt digital solutions that improve operational efficiency and offer an advanced payment experience, backing Egypt’s digital transformation efforts.
Bassem Lotfy, Head of Business Development at Fawry, stated: "This partnership represents a new milestone toward integrating e-payment solutions into the daily operating environments of businesses. This contributes to enhancing operational efficiency, streamlining payment procedures, supporting digital transformation efforts, and driving the state’s vision toward building a cashless economy."
For his part, Tamer Mohamed, CEO of Crystal Pay, commented: "This partnership reflects Crystal Mind’s strong vision of delivering fully integrated business solutions that seamlessly combine robust enterprise resource planning (ERP) systems with the most widely adopted digital payment technologies in the market.”
Mohamed added: “By linking our point-of-sale system with Fawry’s POS system through the Crystal Pay platform, we provide our clients with a distinctive competitive advantage that enhances operational accuracy, reduces manual human intervention, and simplifies daily processes, enabling businesses to improve their financial performance and drive commercial growth more efficiently.”
The Micro, Small and Medium Enterprise Development Agency (MSMEDA) recently extended an EGP 550 million financing facility to Fawry MSME Finance, a fully owned subsidiary of Fawry.
