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Tuesday, 10 September 2019

Food producers move towards e-payments amid push for financial inclusion

Food producers have begun collecting their payments from retailers electronically through apps such as Fawry, Farm Frites General Manager Ahmed Seddik told the local press. The company has recently signed contracts with a number of electronic payment apps to increase security in transactions as part of its financial inclusion strategy, Seddik said. Juhayna has also signed a EGP 15 mn annual contract with Fawry, which earlier this year launched Fawry FMCG, a new e-payment platform for consumer goods companies, according to Juhayna CEO Seif El Din Thabet. Food producer Dreem also has e-payment agreements with online retailers Jumia and Souq, its export manager Ashraf Mazen said.

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