Fawry, the nation’s fintech leader, has forged a groundbreaking Mutual Collaboration Agreement (MCA) with Ottu, the premier Online Payment Management System (OPMS) provider in the Middle East. This strategic partnership aims to revolutionize Egypt’s online payment landscape, offering businesses access to cutting-edge and efficient payment solutions.
As Fawry becomes Ottu’s first partner in Egypt, this alliance represents an unprecedented opportunity for businesses eager to expand across the Egyptian market. By integrating Fawry’s robust payment infrastructure with Ottu’s state-of-the-art OPMS, organizations can enjoy flexible and secure payment solutions tailored to the ever-evolving demands of this dynamic region.
Commenting on the partnership, Fawry CEO Ashraf Sabry stated, “This collaboration with Ottu aligns perfectly with our vision to drive financial inclusion and innovation in Egypt. By leveraging our extensive local expertise and Ottu’s advanced technology, we are confident in delivering unparalleled value to our clients.”
Ottu’s CEO, Ali Al-Khazraji, echoed these sentiments: “Partnering with a market leader like Fawry allows us to bring our innovative payment solutions to a vibrant and growing market like Egypt. We are excited to work together to enhance the digital payment experience for businesses and consumers alike.”
According to the latest data from the Central Bank of Egypt, the country’s digital payment transactions have surged by 30% over the past year, reflecting a growing shift towards online financial solutions. This trend is driven by increased internet penetration and smartphone usage, with approximately 60% of Egypt’s population now accessing the internet, according to Internet World Stats.
The partnership between Fawry and Ottu is expected to further accelerate this digital transformation, providing businesses with crucial tools to streamline payment processes, reduce operational costs, and enhance efficiency as they navigate Egypt’s burgeoning economy.
