Cashless transactions through Fawry increase by 232%

Fawry, a financial transactions company, hit EGP 6 billion in cashless transactions in 2021. Some of these were done through PoS systems that are available to the public in more than 150,000 retailers.

At the end of 2021 Fawry recorded an active daily users’ base of almost 2.5 million users.

The company is working as part of Egypt’s 2030 vision for digital transformation and inclusion, by making cashless payment an available option on a large scale, in order to promote economic development.

Fawry had announced in January that it plans to list a portion of the company on the American stock market, and to issue rights to shareholders to increase its capital by around EGP 800 million as part of its plans for extension.