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Tuesday, 17 March 2020

Fawry, National Bank of Egypt to begin distributing 43k PoS devices to stores

The National Bank of Egypt (NBE) and e-payments platform Fawry are rolling out 43k point of sale (PoS) devices in retail outlets around the country to encourage payments through bank cards and e-wallets, NBE retail CEO Karim Soos said, according to Al Mal. The devices will increase Egypt’s PoS capacity by over 54%, says Soos. The move is part of partnerships between Farwy and local banks to help the government’s bid to transition toward a “cashless economy.”

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