Fintech companies in Egypt are continuously expanding their digital payment solutions for the business sector. There's a growing trend to integrate payment systems with operational management platforms. This trend has led Fawry to sign a strategic partnership with Crystal Mind to develop a digital solution that connects point-of-sale (POS) systems with electronic payments within a unified operational framework.
Through "Crystal Pay," Crystal Mind's specialized arm for digital payment solutions, the partnership aims to integrate Fawry's POS system with Crystal Mind's developed POS system. This will enable companies and merchants to manage sales operations and accept digital payments more quickly and efficiently.
The new solution relies on automatically and securely transferring transaction data between POS systems and Fawry's payment machines. It provides real-time updates on transaction status and creates a synchronized financial record, which reduces reliance on manual entry and minimizes operational errors, while also simplifying review and financial settlement processes.
This collaboration comes amid a growing market trend towards developing digital solutions that link management and payment systems. This helps companies improve operational efficiency and offer more flexible payment experiences to customers, especially in sectors with high transaction volumes like hospitality, retail chains, and hypermarkets.
Bassem Lotfy, Fawry's Head of Business Development, stated that the company focuses on expanding its digital solutions ecosystem by building strategic partnerships with technology companies. This supports the delivery of innovative services that meet the evolving needs of the business sector.
He added that the collaboration with Crystal Mind represents a step towards integrating e-payment solutions into companies' daily operational environments. This will contribute to enhancing operational efficiency, simplifying payment and collection procedures, supporting the path of digital transformation, and reducing reliance on cash transactions.
For his part, Tamer Mohamed, CEO of Crystal Pay, said that the partnership reflects the company's direction towards providing integrated business solutions that combine enterprise management systems with digital payment technologies. This allows companies to improve operational accuracy and reduce manual interventions.
He explained that linking the POS systems between the two companies provides businesses with greater ability to efficiently manage financial and commercial operations, helping them improve operational performance and enhance growth opportunities.
The partnership aims to expand the availability of the new solution to a larger base of merchants and businesses across various sectors, while developing additional services and features to meet market needs. This is part of Fawry's efforts to enhance the spread of digital payment solutions and support companies' transition towards more technology-dependent operating models.
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