Fawry Banking & Payment Technology Services Ltd. has signed a partnership deal with online prepaid payment provider cashU Inc. to support over-the-air reloading of cashU card accounts, the two Egypt-based companies announced Jan. 27.
Under the partnership, Fawry, which operates an electronic bill payment and presentment network, will be cashU’s official payment service in Egypt. Users of cashU’s cards may go to any of Fawry’s outlets and post offices and use a bankcard or cash to recharge their cashU prepaid accounts, the companies noted in a press release.
CashU provides a “virtual” prepaid payment card tied to an account number and password. Cardholders may use the information to shop online, pay for online games and services, and top up their prepaid mobile phones. More than 4,500 merchant websites accept the proprietary card.
Fawry customers in Egypt receive all their bills and pay them through a single, unified electronic network integrated with existing payment channels, such as online banking, ATMs, mobile phones and call centers. Some 3,100 retail outlets and post offices across Egypt, including pharmacies, supermarkets and convenience stores, participate in Fawry’s network.
