Under the company’s strategy to expand its financial services, Fawry (FWRY) is set to establish a consumer finance arm.
More Details🧐 After obtaining the appropriate license from the FRA, Fawry is set to establish Fawry Consumer Finance with an initial capital of EGP 10 million. Fawry Consumer Finance will provide several financial services, most notably a “buy now, pay later” (BNPL) service.
Why is this Important🤔 The BNPL industry has been booming recently. FWRY jumped 2.89% in Thursday’s trading session. Fawry’s CFO stated, “The offering combines the two, allowing Fawry to meet real needs of consumers to gain access to credit & empowering merchants to offer their customers multiple options to pay on their own terms.”
