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Cairo: Castle Development, a company that focuses on developing high-value real estate, and Fawry, the leading digital transformation & E-payment platform in Egypt signed a protocol where the latter is projected to help in collecting customer payments through their service. Eng. Ahmed Mansour, CEO of Castle Development, and Eng. Hossam Ezz El-Din, CCO of Fawry, along a lineup of representatives from both entities were present during the signing. The agreement allows for customers to pay installments through two different methods; through heading to any of Fawry’s locations, or pay online.
The agreement comes as part of Castle Development’s efforts to support their customers and eliminate any obstacles that may come their way; this service will save time and effort while reducing the chances of having to go to a bank or waiting in line for long periods of time to make a payment. This step is in line with Castle Development’s efforts to digitize its services, especially during these times, as well as with the Egyptian government’s work towards digitizing all financial services and opting for electronic collection of payments as an alternative to traditional methods. Fawry’s services are spread across 194,000 locations in all of Egypt's governorates. Based on its own-patented technology, that is fully compliant with international security standards of the ISA 27001 and PA DSS certifications, Fawry performs more than 3 million financial operations daily.
“We constantly strive to provide our customers with various aspects of convenience and safety while making their daily lives smoother. Recent challenges following the COVID-19 outbreak allowed us to take a more serious approach towards the different ways that ensure our customers are safe as they make payments for their future homes, and this is how we landed on Fawry, a company possessing the latest technologies in its feild,” said Eng. Mansour. He further added that “the application of digital solutions across varying sectors is no longer a choice; it has become a requirement as far as future endeavors are concerned. At Castle Development, we believe in the effect digitization has on our work and how it aligns with the government’s efforts of creating a “digital Egypt” to achieve economic growth. It also has an immense impact on the country’s work towards exporting real estate as Fawry’s services accept payments in USD, EUR, and others, making our products more accessible.”
Fawry offers a lineup of e-payment services for individuals as well as entities through multiple channels including online, using ATMs, mobile wallets and retail points. “Fawry introduced e-payment methods to Egypt; through Fawry, people were able to maximize their use of technology when paying money. Moreover, the company was able to assist its partners, which include banks, owners of medium enterprises, and institutions in adding value to their businesses through introducing digital channels of payment,” said Eng. Ezz El-Din. He went on to explain the significance of signing such an agreement with Castle Development saying that “partnering with a developer with premium-quality projects taking place at the New Administrative Capital is a paradigm shift for both parties, especially that Castle Development will be the first real estate developer who uses Fawry’s services to receive installments from its customers. Moreover, the company’s efforts towards digitization and the way it aligns with similar government plans, demonstrate this developer’s remarkable impact on the market.”
Castle Development focuses on the development of high-end real estate projects in Egypt, including residential, commercial, and administrative developments. Established in 2018, the company possesses a paid capital of EGP 1 billion, with investments in the New Capital alone worth EGP 4.5 billion spread across its three projects in the area including their flagship project of Castle Landmark, the commercial project of East Side, as well as another commercial endeavor currently under construction. Since its inception, Castle Development has made a priority to offer its customers unique services; which include its one-of-a-kind partnership with Allianz Insurance – Egypt, who will cover all remaining installments in case the owner, who purchased property from Castle Development, passed away, and other partnerships that add more layers to the level of trust the company has with its customers.
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