cashU customers can top up their accounts using extensive Fawry network of banks, post offices and retail outlets
Fawry becomes official payment service in Egypt for cashU
Cairo: Fawry, the leading electronic bill payment and presentment (EBPP) network in Egypt, and cashU, the region's first prepaid online payment gateway, have decided to pool their expertise and technology under a unique tie-up that would offer online shoppers a variety of safe and convenient payment options.
The alliance between Fawry and cashU will allow cashU customers the opportunity to top up their accounts using the extensive network of Fawry covering banks, post offices and retail outlets. The tie-up also makes Fawry the official payment service in Egypt for cashU.
Ashraf Sabry, CEO of Fawry, said: "In line with our commitment to support the growth of e-commerce in Egypt, we are happy to partner with a pioneering Internet payment company like cashU. Fawry's reach and reliability combined with cashU's technological expertise offer customers the perfect online payment option. Our alliance will provide cashU customers the opportunity to top up their accounts easily and quickly using the Fawry network. Further, it will encourage people to shop online frequently with the knowledge that it is safe and also provides a hassle-free shopping experience. In fact, more and more people are using the Fawry network than ever before as it provides payment solutions that are secure, convenient and simple to understand".
Mr. Martin Waldenstrom, CEO of cashU, said: "With e-commerce expected to grow between 13-16 % worldwide in 2011, Fawry and cashU are happy to join hands to make online shopping even more convenient and safe. For shoppers who prefer not to use their credit or debit cards online, cashU is their best option. By partnering with Fawry, we have provided our customers a unique method to up their accounts that is hassle-free and quite safe. The Fawry service also offers more flexibility, round-the-clock availability and a wide choice of options to top up their accounts".
A cashU account holder uses funds in his account to shop online in more than 4,500 merchant websites in over 35 countries. At present there are more than 350,000 users of cashU in Egypt who shop online for a variety of services and products including online gaming, communications, FX trading, business and finance, dating and matrimony, Information Technology (IT) services, web hosting and design, as well as those shopping for a range of merchandise.
Now, for the first time, cashU customers in Egypt are being offered the first direct top-up method through the Fawry network. They can use the Fawry service to top up their accounts and then use these funds to shop online.
cashU customer can top up by either paying cash at post offices in Egypt or at 3100 retail points that are available at medium and large grocery stores or pharmacies, shopping centers and supermarkets in Cairo, Alexandria and Delta region.
cashU customers who have bank accounts can also top up via ATMs, as major banks in Egypt offer the Fawry service through its network of outlets. Customers can also top up by debit cards via ATMs of National Bank of Egypt, Banque Misr, Banque Du Caire, Bank of Alexandria and Arab African International Bank. The National Bank of Egypt also allows customers to use their credit cards on its ATMs to top up on their cashU accounts through the Fawry network.
The method is so simple that cashU customers can visit any retail point displaying the Fawry logo, check their account balance and top up. Customers will then get a printed receipt as proof of transaction.
For more information or locating the Fawry retail point closest to you, please visit the company website on: www.fawry.com
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About Fawry
Fawry is the national Electronic Bill Payment and Presentment (EBPP) network revolutionizing the way Egyptians receive and pay bills today. Launched in December 2009, Fawry enables billers to electronically present their bills through Fawry's network and allows consumers to pay for them through a single, robust and secure network that supports a variety of payment channels including ATM machines, online banking, mobile phones, customer call centres, Integrated Voice Response (IVR) systems as well as a network of service points available in retail outlets across the country.
Fawry network comprises an ever-growing list of banks, telecom, utilities and commercial companies that allow a greater number of Egyptians to receive and pay their bills electronically and instantly with complete transactional privacy and security, while allowing them to track payment history and schedule all future payments from a single, easy to use interface. Fawry was founded as an electronic banking and payment technology company in mid-2008 with a paid up capital of EGP 46 Million.
About CashU
www.cashU.com
Part of Jabbar Internet Group, cashU which was launched in July,2002 as the region first prepaid online payment gateway that allows a user to sign up for a free account that can be funded using a variety of top-up options. Funds added to the cashU account can then be used in more than 4,500 merchant websites specialized in offering the services of online gaming & MMORPG's, online shopping, VoIP & communications, dating & matrimony, IT services, FX trading and much more.
cashU provides merchants with a solution where they can sell their goods and services on the Net, including virtual products (like online game items) or services (such as SMS or ring tones) that require micro payments. Merchants pay no setup or installation fees - and integrating cashU is quick and simple.
cashU is now available in more than 35 countries around the world and the cashU network connects hundreds of thousands of cashU account holders, online and offline resellers as well as online businesses and merchants in a way that was not possible before due to the low penetration of credit cards in the region.
Press Contacts:
May AbdelHamid
Fourth Dimension Public Relations
14 Syria St., Mohandseen, Cairo,
Egypt
Tel: +202 3761 8555
Fax:+202 3762 3093
Mobile: (+2) 012 133 0222
Email: may@fdpr.net
Adel Elbendary
Fourth Dimension Public Relations
14 Syria st., Mohandseen, Cairo, Egypt
Tel: +202 3761 8555
Fax:+202 3762 3093
Mobile: (+2012) 212 3462
Email: adel@fdpr.net
© Press Release 2011
