‘Mngm’ platform for precious metals cooperates with ‘Fawry’ to provide electronic payment services

‘Mngm’ platform for precious metals cooperates with ‘Fawry’ to provide electronic payment services

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Fawry offers its digital solutions for ‘Mngm’ platform for precious metals clients

Fawry

Cairo, Egypt, 15th March 2023: ‘Mngm’ and ‘Fawry’ have inked a deal that allows existing ‘Mngm’ customers to charge their cash balance through Fawry network throughout any of FawryPlus branches, as well as Fawry POS machines.

‘Mngm’ is Evolve Investment Holding’s flagship digital precious metal platform that enables clients to securely and transparently purchase, sell, store, and request delivery of 999.9 (24k) gold with one click of a button. Through mngm, clients can accumulate their gold holdings with minimum purchases of 0.1 grams. ‘Mngm’ also offers clients with investment-grade gold that is sourced from globally certified refineries and that is insured by the most trusted insurance providers.

The synergies between the two companies and their shared vision of continuing to democratize access to financial services for all segments of Egyptian society, make this partnership a match made in heaven.

Now ‘Mngm’ users can instantly top up their ‘Mngm’ cash balance by depositing cash into any of the ‘FawryPlus’ stores or any Fawry POS machines, using only their registered phone number and Mngm’s service code: 94671. In addition, prospective ‘Mngm’ users can now utilize any of FawryPlus 220 stores to finalize their KYC process and set up their accounts.

The partnership underscores ‘Mngm’s objective of continuing to provide customers and investors access to investment-grade gold through hassle-free transactions and transparent and regulated payment channels and this partnership also highlights Fawry’s and Mngm’s continued efforts of diversifying their product offerings and spearheading meaningful and out-come driven partnerships designed to bring added value to the Egyptian society.

Dr Sameh El Torgoman Chairman of Evolve Group commented: “The partnership with Fawry is a milestone towards achieving the main goal of MNGM, which’s enabling the largest number of customers to buy gold seamlessly, in conjunction with complying with all applicable laws and regulations governing such transactions, wherefore contributes to the integration of all buy-and-sell transactions into the formal economy.”

Hossam Ezz, CCO at ‘Fawry’ said: “We are very pleased to cooperate with ‘Mngm’, one of the largest digital platforms for selling precious metals.”
He added: “This partnership will contribute to enhancing payment options through an advanced package of our digital solutions, as our advanced payment system is designed to make Digital transactions are smoother and more transparent, and he emphasized that this cooperation will support Fawry plans to expand its scope of work across all sectors and various segments of society.”

He pointed out that Fawry pays great attention to support digital transformation and digitization and enhancing financial inclusion processes because of its great impact in supporting the digital economy, in accordance with the initiatives of the Central Bank of Egypt to build digital Egypt and reach a cashless society that meets the requirements of the modern era to facilitate financial transactions for beneficiaries in all sectors and fields.

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