Fawry, Banque Misr, and EBC Launch Cash in and out interoperable for E-Wallets to Promote Financial Inclusion

Fawry, Egypt’s leading e-payments solutions provider, in collaboration with Banque Misr and Egyptian Banks Company for Technology Advancement (EBC), announced the launch of a new cash in and out interoperable for e-wallets via Meeza Digital Scheme. This service enables customers who hold e- wallets from any bank or financial institution to easily and flexibly perform cash in and out interoperable at electronic points of sale (POS) available through Fawry’s nationwide network. This initiative reflects the commitment of Fawry, Banque Misr, and EBC to enhance financial inclusion and intensify efforts to increase accessibility to financial services for broader segments of the society.

This new service further strengthens Fawry’s leadership in the fintech market. Thanks to this service, customers can now perform deposit and withdrawal securely and efficiently, with a maximum limit of EGP 4,000 per transaction, through Fawry’s nationwide network and FawryPlus branches. This makes the service easily accessible to customers across Egypt. The strategic partnership between Fawry, Banque Misr, and EBC marks a significant advancement in Egypt’s financial services sector, providing innovative and user-friendly payment solutions that drive economic growth and promote digital transformation. Individual customers benefit from this collaboration by accessing various financial options tailored to their diverse needs, boosting confidence in the economic system, and encouraging investment.

Commenting on the launch of the e-wallet deposit and withdrawal service via Meeza Digital Scheme, Tarek Zohairy, Chief Commercial Officer- Financial Services & Digital Solutions at Fawry, said: “We are proud to take an important step forward in our mission to expand financial inclusion in Egypt. The partnership with Banque Misr and EBC to launch this service significantly advances our ongoing efforts to drive digital transformation and create a more inclusive financial community. At Fawry, we are committed to ensuring that everyone can access the opportunities offered by financial technology securely and seamlessly, anytime and anywhere across the country.”

For his part, Mohamed Shawky, Deputy Business Development GM at Egyptian Banks Company for Technological Advancement (EBC), stated: “At EBC, we believe that innovation is the key to making financial transactions more accessible and efficient. Therefore, we are delighted to collaborate with Fawry and Banque Misr to launch new cash in and out interoperable for e-wallets, utilizing the latest payment technologies. This service is available anytime and anywhere, contributing to a more digital and financially inclusive future while strengthening Egypt’s position as an attractive investment destination. This strategic partnership reaffirms our commitment to innovation and delivering payment solutions that meet the evolving needs of our customers and empower the end-user with multiple digital payment methods.”

Banque Misr takes pride in its strategic partnership with all parties, which has resulted in the launch the Cash In and Out interoperable at Electronic Points of Sale (POS) via Meeza Digital Scheme. This aligns with the bank’s plan to expand its services through various electronic channels, providing customers with services more smoothly, enabling them to manage their financial transactions with ease and security using technology and secure systems in financial transactions . It also supports the state’s efforts in promoting financial inclusion, which requires the collective efforts of various entities and institutions, as well as providing incentives that encourage users to engage in the electronic payment system, while also continuing Banque Misr’s pioneering role in supporting the Egyptian economy.

The cash deposit and withdrawal service for e-wallets is currently available at all Fawry branches, specializing in banking and electronic payment technology nationwide. It will soon be expanded to include all Fawry network points of sale (POS), including retail distribution, ensuring broader and more widespread access to the service. The successful collaboration between Fawry, Banque Misr, and the Egyptian Banks Company for Technological Advancement (EBC) reflects their shared commitment to developing innovative financial solutions that address the needs of the Egyptian market. This partnership aims to enhance financial inclusion, which aligns with Egypt’s Vision 2030.