3 December 2024 – (Cairo, Egypt) Fawry, Egypt’s leading e-payment solutions provider, announced that its subsidiary, Fawry MSME, has achieved a significant milestone with its BNPL (Buy Now, Pay Later) solution for merchants, “Alnota” Overdraft, Invest-Gate reports.

Since the beginning of 2024, the service has onboarded over 50,000 merchants and facilitated 750,000 transactions, reaching a total value of EGP 2bn. “Alnota” Overdraft is Egypt’s first BNPL product tailored exclusively for merchants, digitally connecting them with suppliers and integrating seamlessly with Fawry’s POS terminals.

The facility supports merchants’ working capital needs by offering credit limits of up to EGP 150,000 for supplier payments and Fawry services. Onboarding is free, and the product delivers a fully digital experience, with short-term loans maturing in 3 to 15 days, transforming bill payments and B2B transactions into accessible financing options.

Fawry’s CEO, Ashraf Sabry, highlighted the product’s significance: “This innovative solution reflects Fawry’s creativity in bridging merchants and suppliers. ‘Alnota’ Overdraft opens doors for new collaborations with suppliers across Egypt, further strengthening our leadership in financial innovation.”

Alexander Levchenko, CEO of Fawry MSME, added: “‘Alnota’ Overdraft has simplified daily business operations for over 50,000 merchants. Our vision to digitize Egypt’s economy is becoming a reality, with this product playing a pivotal role in connecting market players and boosting efficiency.”

This achievement highlights Fawry’s commitment to driving financial innovation and fostering Egypt’s ongoing digital transformation.