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Heba El-Awady, Chief Business Officer at Fawry, participated in the 8th edition of the Africa Fintech Forum held in Cairo. Speaking during the "Fintech and Financial Inclusion" session, she emphasized that easing payment procedures and offering flexible, cost-effective solutions are foundational to accelerating the adoption of digital payments and expanding financial inclusion.

El-Awady highlighted the need to strike a fine balance between enabling merchants—especially small business owners—to afford payment acceptance services, and ensuring the economic viability for service providers to sustain long-term development.

Flexible Services and Cost Management

Fawry's Chief Business Officer noted that the success of electronic payments depends not merely on the variety of available options, but directly on their capacity to meet the daily needs of merchants and consumers seamlessly, without imposing financial burdens or complex procedures.

She added that designing simple, flexible payment tools tailored to various business activities encourages business owners to adopt digital payment solutions and integrate them into their daily economic transactions.

Strategic Partnership Between the Banking Sector and Fintech Companies

El-Awady stressed that integration between banks and fintech companies is a primary engine for reaching unbanked and underserved populations. By combining the banking sector’s expertise and financial resources with the flexibility and innovation of fintechs, more suitable products can be delivered to small and medium-sized enterprises (SMEs).

She pointed out that fintech companies play a complementary role to traditional banks, unlocking access to new customer segments and providing user-friendly solutions that help clients manage their financial transactions efficiently.

E-Wallets and Agent Banking: Expanding Financial Reach

El-Awady underscored the importance of scaling up service delivery channels—led by mobile money services and agent banking—as an optimal solution for reaching areas lacking traditional bank branches.

She concluded by emphasizing that boosting the reach of these channels requires offering cost-effective, easy-to-use services while enhancing integration among diverse payment methods to support sector sustainability and strengthen the role of digital infrastructure in achieving comprehensive financial inclusion.