Fawry Introduces Instant Loan Installment Payment Service for Banque Misr Customers Across Its Nationwide Network
Fawry, Egypt’s leading fintech company, has announced the launch of a new service enabling Banque Misr customers to seamlessly settle their monthly loan installments across all loan types through Fawry’s nationwide network and FawryPlus branches, delivering a more convenient and seamless payment experience. In line with its ongoing commitment to developing innovative digital payment solutions that simplify financial transactions and advance financial inclusion
The payment process is completed by selecting service code BTC 4210 – Banque Misr Loans and Murabaha payments , entering their account number, and verifying the transaction through a one-time password (OTP) sent to their registered mobile number. The merchant then inputs the payment amount along with the OTP to finalize the transaction, which is processed and settled instantly into the customer’s bank account.
The service enables customers to settle their loan installments without the need to use a bank card, as the transaction amount is credited instantly to the customer’s account upon completion of the payment. This contributes to delivering a smoother customer experience by offering multiple channels that allow customers to pay their loan installments easily and conveniently, while reducing the time and effort required to complete payments through a wide network of nearby payment points.
This service is the first of its kind launched by Fawry in collaboration with an Egyptian bank, reflecting the company’s commitment to expanding its service offerings and fostering collaboration with banking institutions to deliver more efficient and accessible digital financial solutions, while supporting the development of Egypt’s digital payments ecosystem.
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About Fawry
Founded in 2008, Fawry Egypt’s leading fintech company serving the banked and unbanked population. Fawry’s primary services include enabling electronic bill payments, mobile top-ups and provisions for millions of Egyptian users. Other digital services also include e-ticketing, and variety of other services. Through its peer-to-peer model, Fawry is enabling corporates and SMEs to accept electronic payments through a number of platforms including websites, mobile phones, and POSs. With a network of 36 member banks, its mobile platform and 377 thousand agents, Fawry processes more than 6 million transactions per day, serving an estimated customer base of 54.8 million users monthly