Cairo 14 May 2024:
In a step that represents a milestone in revolutionizing banking services in Egypt, Fawry Plus announced its cooperation with Mashreq Egypt to offer clients the opportunity to open Mashreq NEO accounts through Fawry Plus branches.
Fawry Plus, a leader in the field of banking technology and electronic payments and the first company in Egypt to obtain a banking agent license from the Central Bank to provide various banking services, considers this cooperation as a step to provide distinguished banking services in all regions across the country.
Fawry Plus and Mashreq NEO provide a unique and enjoyable experience that meets customers’ banking needs as you can apply for a Mashreq NEO account in a quick and smooth process through the Mashreq Egypt mobile application, and then visit the Fawry Plus branches that provide its services to customers seven days a week from 9 am to 10 pm to sign the banking form for the service, and activate the account.
Hossam Ezz, CEO of Fawry Plus, said: “We are very pleased with our partnership with Mashreq Egypt, as Fawry Plus is working hard to expand the scope of cooperation with the banking sector with the aim of attracting new segments and directing them to the formal financial sector.”
He added: “Fawry Plus pays great attention to the “Financial Inclusion Strategy (2022–2025) issued by the Central Bank of Egypt and this can be achieved by enhancing financial inclusion and expanding access to financial services for hard-to-reach consumers in rural and remote areas, developing the level of financial literacy among consumers, improving their financial capabilities, providing and facilitating individuals and companies’ access to financial services, and encouraging the transition to the formal sector.”
Amr El-Bahey, CEO of Mashreq Egypt, said: “We are excited to work with Fawry Plus, a leader in the field of banking technology and banking services, to achieve a breakthrough in the banking sector, which contributes to enhancing the Egyptian financial inclusion scene in accordance with Egypt’s Vision 2030″.
He added that the partnership will enable Mashreq Egypt to reach the largest number of customers due to Fawry Plus’ active network covering all parts of the Arab Republic of Egypt.
El-Bahey added: “So far, we have opened more than 1,000 NEO bank accounts in the first week of launching the new segment, and through our partnership with Fawry Plus, we expect to open more than 1,000 accounts daily.”
Fawry Plus is a major player in promoting financial inclusion, as it provides customized banking services in an easy and seamless manner, such as: registering and activating electronic wallets and prepaid cards, registering know-your-customer forms for consumer finance companies and micro-lending companies, opening financial inclusion accounts, remittance services for Egyptians from abroad, collection and electronic disbursement services from bank accounts, and many distinguished services.
The Mashreq NEO account offers customers various benefits, including the opportunity to earn reward points on transactions made with direct debit cards. New customers receive a joining bonus of up to 1,000 Egyptian pounds, based on their spending. Additionally, customers can receive a bonus of up to EGP 1,800 based on their balance in the first year, demonstrating Mashreq’s commitment to rewarding customer loyalty.
One of the most important features of the Fawry Plus business model is the availability of services to the customer’s satisfaction at all times, as Fawry Plus operates seven days a week from nine in the morning until ten in the evening, which allows banks to provide their services to their customers through Fawry Plus branches after the banks’ official working hours.This makes it easier for their customers to perform the service without the requirement that they be present in the bank’s branches during official working hours only. Rather, the bank’s customer can perform their banking services available in Fawry Plus on weekends, which increases the satisfaction of the bank’s customers and encourages them to interact with the banking and banking services.
Fawry Plus branches exceed 260 branches throughout Egypt, with a focus on urban and remote areas, where financial services are not available. This network also ensures convenient services for large numbers of Egyptians, especially those who do not enjoy banking services.
Fawry Plus has also revolutionized the provision of banking and financial services, providing a central hub for more than 23 banks, by adopting the “One District, One Bank” model. This model enhances accessibility and brings together various financial and banking services in one place.
