Egypt's precious metal platform Mngm and Fawry partner to facilitate payment options

Egypt's precious metal platform Mngm and Fawry partner to facilitate payment options

Egyptian e-commerce precious metal platform, Mngm has entered a partnership with a fintech startup, Fawry to facilitate payments of Mngm’s customers.

The partnership allows Mngm users to credit their 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.

Mngm is a product and brand of the Evolve Holding Group of companies, an investment company that targets investments in the precious metals and gold industry ecosystem in Egypt.

The platform which is the first in Egypt 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 investment-grade gold that is sourced from globally certified refineries and that is insured by the most trusted insurance providers.

Chairman of Evolve Group, Sameh El Torgoman said, “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”.

The new partnership is in line with Mngm’s objective of a continuous provision of access to investment-grade gold to customers through stress-free transactions, and transparent and regulated payment channels.

CCO at ‘Fawry Hossam Ezz said, “We are very pleased to cooperate with ‘Mngm’, one of the largest digital platforms for selling precious metals. 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.”

Founded in 2019,  mngm aims to democratize access to all market participants, through transparent, simple, and innovative means.