Fawry partners UAE-based PayMe on remittance services for expats
TLDR
- Fawry partners with PayMe Digital to provide tailored payment services for Egyptian expatriates worldwide, focusing on the Gulf region.
- Partnership enables Egyptian expats to manage financial transactions and settle bills in Egypt electronically through the PayMe smartphone app.
- Expatriates can conveniently handle a range of payments, including service bills, educational fees, vehicle expenses, club memberships, and insurance payments.
Fawry, a prominent provider of banking technology and electronic payment services in Egypt, has partnered with PayMe Digital, focusing on offering payment services tailored to expatriates worldwide.
This partnership targets Egyptian expatriates, particularly those in the Gulf region and beyond, to conduct financial transactions and settle bills electronically in Egypt while residing abroad. This functionality is facilitated through the PayMe smartphone application.
The collaboration between Fawry and PayMe Digital opens avenues for millions of Egyptian expatriates to conveniently manage various payments, including service bills, educational fees, licensing, and vehicle-related expenses, club memberships, as well as medical and social insurance payments.
Key Takeaways
Digital banks hold immense potential across various sectors in Egypt, particularly in a country where two-thirds of the population is either partially or entirely excluded from formal financial services, despite 50% of its 100 million people actively using smartphones. Fawry, having solidified its presence in Egypt, is now shifting its focus towards Egyptian expatriates residing abroad as a key priority. With more than 12 million Egyptian expatriates worldwide, Fawry aims to offer them top-notch payment services and innovative financial technology solutions. This initiative is geared towards facilitating seamless financial transactions and bill payments in Egypt from overseas, catering to the needs of expatriates who play a vital role in the country's economy.
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