Fawry Banking and Payment Technology Services- a joint venture between HSBC, Arab African International Bank, Bank of Alexandria, EFG Hermes, Raya Holding and Fawry management)- is an electronic bill payment and presentment (EBPP) network that enables the Egyptian public to conveniently and securely pay their bills and topup their mobile phones through the various electronic channels available at banks and a network of retailers. Consumers will be able to pay their bills, buy their tickets, topup their phones and process other types of payments by seeking the service through any member bank or member retailer on the network. We link billers of all sectors to our nationwide network and integrate with them to make their bills available in electronic format. Market Opportunity: With a population close to 80 million, Egypt has around 16 million households. Household consumption figures stand at 653 Billion EGP for 2008, and is mainly spent in cash. The average household has to deal with around 13 different utility and service providers and has to worry about periodic settlement of their bills. The degree of hassle associated with managing these household accounts is significant and the need for convenient and secure solution becomes apparent in any consumer research conducted on the topic. It is estimated that there are more than 1 billion utility and service bills issued and paid in Egypt annually with a total value exceeding 60 billion LE. Mobile recharge is around 30 billion LE annually. Fawry Proposition: FawryÍs value proposition puts Egypt on the e-commerce map worldwide. Through its services, Fawry plays the role of the consolidator that brings together all parties that can be involved in a particular e-payment transaction. Fawry is the payment gateway via which payment transactions are processed in the most efficient and cost effective manner, hence benefiting all parties on the network such as financial institutions, billers, vendors and retailers.