What Masary does

Masary is an Egyptian electronic payment services company founded in 2009 and headquartered in Cairo. The company operates as a payment aggregator and facilitator, operating the largest electronic payment network in Egypt with 60,000-70,000 payment points deployed nationwide across merchants and agents. Masary connects unbanked and underbanked consumers with major Egyptian service providers, processing real-time transactions across 120+ services including telecom recharges (Vodafone Egypt, Etisalat, Orange, WE), utilities (electricity, water, gas), government services (Egyptian Taxes, E-Finance), insurance (GIG Insurance), education fees, transportation tickets, entertainment (One Card, Cash U eVouchers), and charity donations (Egyptian Food Bank, Maaan Team, Bait Zakat).

The underlying platform is a real-time transaction processing system with a flexible architecture supporting integration with any external payment network or biller system. Masary distributes its services through four primary user interfaces — an Android mobile application, a web portal, and two Android-based POS terminal variants (Mobiwire and PAX) — alongside iOS, Java, and Windows Desktop apps. The platform enables simultaneous processing against multiple providers, instant account recharges, and real-time transaction reporting to billers.

Masary's business model is transaction-fee-based across three streams: (1) per-transaction fees on consumer payments routed through its network, (2) B2B cash collection services for enterprises needing to collect payments through Masary's point network, and (3) agent/merchant network fees from operators of the 60,000-70,000 payment points. The company is privately held by co-founders Omar El Sanhoury and Moatasem Osam, with no disclosed institutional investors, funding rounds, or parent company. No revenue, headcount growth, or recent strategic transactions are disclosed in available sources, representing material data gaps for investment evaluation.

Name

Masary

Legal name

Masary

Website

https://e-masary.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

101–250 employees

Short description

Masary is an Egyptian FinTech payment aggregator founded in 2009 that operates the largest electronic payment network in Egypt, with 60,000-70,000 payment points and 120+ services connecting unbanked and underbanked consumers with major billers via real-time transaction processing across mobile, web, and POS channels.

Ownership category

akta.pro rank

Product category

Electronic Payment Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Bill Pay, Invoicing & Payables Platforms (BPAMAFAF)

akta.pro secondary industry

Utility & Municipal Billing Platforms (FSAMAJAG)

Keywords

• Electronic payment services
• Bill payment aggregator
• Mobile payment platform
• Payment point network
• Financial inclusion payments

Headquarters

HQ city

Cairo

HQ country

Egypt

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Transaction Processing Fees: Masary charges transaction fees for processing payments between consumers and service providers (mobile operators, utilities, government services, insurance companies, educational institutions, transportation providers, entertainment services). As a payment aggregator and facilitator, the company earns a take rate on each transaction processed through its network of 60,000-70,000 payment points.
2. B2B Cash Collection Services: Provides efficient and competitive cash collection services for business clients, enabling companies to collect payments from customers through Masary's extensive payment point network.
3. Agent/Merchant Network Fees: Revenue generated from the network of payment points (agents/merchants) that utilize Masary's platform and terminals to offer services to end consumers.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Masary operates as Egypt's leading electronic payment aggregator and facilitator, providing real-time bill payment and financial services through a network of over 70,000 payment points nationwide. The platform enables consumers to pay for telecom services (Vodafone, Etisalat, Orange, WE), utilities (electricity, water, gas, landline), government services, insurance, education fees, transportation, entertainment, and donations through four interfaces: Android mobile app, web portal, and two POS terminal variants. The company also offers B2B cash collection services for businesses requiring efficient payment collection infrastructure.

Product overview

Masary is a unified payment aggregator and facilitator platform that operates across multiple channels: mobile applications (Android, iOS, Java, Windows Desktop), web portal, and dedicated POS terminals (Mobiwire and PAX). The platform connects to over 70,000 physical payment points across Egypt and enables real-time processing of 120+ services including telecom recharges, utility bills (electricity, water, gas), governmental services, insurance, education fees, transportation tickets, entertainment, donations, banking services, mobile wallets, and cash collection services. The ecosystem is built on a flexible platform architecture supporting integration with any external platforms and payment networks.

Differentiator

Problem solved

Functional benefit

Products and services

• Telecom Services Payment Bill payment and recharge services for all major Egyptian telecom operators including Vodafone Egypt, Etisalat Egypt, Orange, and WE, as well as landline and ISP/ADSL service providers. Available through Masary's mobile app, web portal, and POS network for individual consumers.
• Public Utilities Payment Payment processing for electricity bills and E-Finance services, enabling consumers to pay utility bills through Masary's payment network across Egypt.
• Governmental Services Payment Payment processing for Egyptian government services, including tax payments. Enables consumers to settle government obligations through Masary's network.
• Insurance Bill Payment Insurance premium payment service for GIG Insurance (Arab Misr Insurance Group), enabling policyholders to pay premiums through Masary's payment platform.
• Donations Processing Charitable donation processing service supporting Egyptian Food Bank, Maaan Team, and Bait Zakat, enabling consumers to make donations through Masary's payment channels.
• Electronic Shopping & Entertainment Voucher purchase service for One Card and Cash U eVouchers for electronic shopping and entertainment purchases.
• B2B Cash Collection Services Efficient and competitive cash collection service for business clients, enabling companies to collect payments from customers through Masary's network of 60,000-70,000 payment points across Egypt. Includes employee benefits administration, installment collection, and cash management solutions for enterprise clients.
• Masary Android Mobile Application Android mobile application providing consumer access to all Masary payment services including bill payments, mobile recharge, utility bills, governmental services, insurance, education fees, transportation tickets, entertainment, donations, and cash collection. Available on Google Play Store.
• Masary Web Portal Web-based portal enabling users to access all Masary payment services online for bill payments, subscriptions, donations, and money services through a web browser.

Quantifiable outcome

• Over 120 different services available at one payment location
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators4 records

Recent moves4 records

Expansion highlights4 records

Emerging players

• MNT-Halan: MNT-Halan is a fast-growing Egyptian fintech providing lending, payments, and e-commerce services to underbanked populations via an agent network. It overlaps with Masary on financial inclusion and agent distribution, though it leans more toward credit.
• Khazna: Khazna is an Egyptian fintech offering buy-now-pay-later and digital financial services to underbanked consumers via a mobile app and POS network. It overlaps with Masary in serving the unbanked segment and operates a similar agent-based distribution model.
• OPay: OPay is an emerging-market fintech operating mobile money, payments, and merchant services across Nigeria, Egypt, and other African markets. It overlaps with Masary on consumer payments and merchant network in Egypt specifically.
• Telda: Telda is an Egyptian digital-first neobank offering bill payments, transfers, and financial services via a mobile app. While it does not operate a physical POS network, it competes with Masary on the consumer digital payments experience.

Direct peers

• Paymob: Paymob is an Egyptian payment gateway and aggregator serving merchants and developers with online and in-person payment acceptance, including bill payments and mobile wallet integrations. It directly competes with Masary's merchant and consumer payment services.
• Fawry: Fawry is Egypt's largest listed electronic payments aggregator, operating a network of payment points and biller integrations across telecom, utilities, and government services. It is the most directly comparable competitor to Masary, with overlapping biller relationships and target consumers.

Broad incumbents

• Vodafone Cash: Vodafone Cash is Vodafone Egypt's mobile money platform offering bill payments, transfers, and merchant payments. As a major telco-led wallet, it competes directly with Masary's bill-aggregation use cases and represents a potential disintermediation threat.
• Network International: Network International (now part of Brookfield) is a leading MEA payments processor serving banks, merchants, and fintechs with payment processing and acquiring. It operates in Egypt and provides overlapping payment-aggregator infrastructure to many of Masary's potential competitors.
• M-Pesa (Vodacom / Safaricom): M-Pesa is Africa's largest mobile money platform offering bill payment, P2P transfers, and merchant services via an agent network. It is a comparable emerging-market bill-payment aggregator model, though operating outside Egypt.

Regional players

• MoneyFellows: MoneyFellows is an Egyptian digital 'gameya' (rotating savings) and payments platform with a domestic agent network. While its core product is community-based savings, it increasingly overlaps with Masary's bill-payment and consumer payment services.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/eMasaryEgypt

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Masary