December 23 2020

Fawry and Tutuka announce Card Issuing Partnership

Egyptian payments giant Fawry and global issuer processor Tutuka have entered into a strategic global card-issuing partnership.

Fawry is the leading Egyptian digital transformation & e-payments platform that has revolutionized the concept of Omnichannel payment in Africa and the Middle East over the past decade. It currently has more than 29 million monthly users, 194,000 merchant points.

Fawry will use Tutuka's issuing platform and processor plus services to enable its customers and client banks to issue virtual and physical Visa cards.

"The Egyptian payment market is going through a massive transformation these days. In 2020 e-commerce transaction has been multiplied, and we see this trend to continue in next years. Our goal is to enable our customers to make payments in both the digital and physical world with no friction," says Ashraf Sabry, CEO of Fawry.

"We're incredibly proud to be serving one of the most iconic companies in the Middle East region and to create something big together," says Rowan Brewer, CEO of Tutuka.

More about Tutuka:

Tutuka is a third-party payments enabler that makes payments happen by enabling its clients' customers to pay with Mastercard, Visa, and Union Pay cards and products. Tutuka enables FinTechs, mobile wallets, apps, and banks across Africa, Asia, the Middle East and Latin America to issue virtual and physical cards and other Mastercard, Visa and UnionPay payment products. Tutuka's processor plus model allows its clients to easily, cost-effectively, and quickly link into card schemes without the complexity and slow timelines typically associated with processors.

More about Fawry

Fawry is the leading digital transformation and e-payments platform , serving more than 29 million customers monthly, with more than 3 million transactions daily for more than 894 services, including telecom bills, tickets and tourism, online payments, insurance, and school and universities fees, donations, financial and banking payments, subscriptions, advertisements, and car license renewals.

All of these services are carried out through a network of more than 34 major banks and more than 194,000 authorized sales outlets all over Egypt, more than 2,500 post office branches, more than 15 mobile phone wallets for banks and mobile companies, in addition to “Fawry Plus” over the country, and the “myFawry” online payment portal and its application.

Other news