Dealing with Masary forced me to educate my shop visitors to use Electronic Topup rather than buying a physical scratch card due to its unavailability and the simple user experience provided by Masary
Cairo, Egypt (PRWEB) July 27, 2009
Masary Egypt started its mobile commerce services operation the first week of June 2009 and just after one month of operation it managed to hire more than 100 merchant outlets in rural areas to distribute Masary's first service; Electronic Topup. Masary is focusing on non traditional merchant outlets to first distribute its planned digital and commerce services across Egypt and then deploy the services in the Middle East in partnership with key strategic local players in each country.
Merchant types are groceries, stationary shops, kiosks, gift shops, internet cafés and street sellers. The revenues potential Masary offers to its partners along with the value proposition merchants already experienced through Masary services during the market trial phase were the main contributor factors in attracting more merchants to Masary, they joined Masary's network because they tested the services and found out that they can gain money partnering with them.
"Dealing with Masary forced me to educate my shop visitors to use Electronic Topup rather than buying a physical scratch card due to its unavailability and the simple user experience provided by Masary", said Mahmoud Aly; a grocery shop owner.
Masary is positioning themselves as a third party service provider within the value chain and the payment echo system, serving telecommunication companies that have service coverage across the whole country with a significantly large distribution network. Telecommunication companies believe that there is a great potential in rural areas; the question of how to serve this market in a very cost efficient manner is the main focus of Masary's business development team members.
Currently Masary is piloting some Micro Finance mobilization services and testing the concept and the feasibility for each player in the system. Financial Institutions find it very expensive to serve rural areas; commercially it is not feasible, and MFIs always look for new innovative ways to increase their market boundaries and customer base.
High operational cost serving some areas is due to difficulty of transportation and lack of efficient tools to collect small amounts of cash installments. Some of the MFI customers delay the loan payment and prefer to pay penalty simply because they cannot travel or rather prefer to take care of their micro business in the day of payment; this leads to higher interest rates on the loans and accordingly decreases the potential market.
Some people think that is no business can be done serving the bottom of the pyramid; which is not true on most cases. The key is to understand the need of the rural area segment and live it, to be able to serve them and provide them with a value for the money they will think twice before they spend.
Masary's vision has a social responsibility aspect embedded in it, "we cannot do business serving this segment without really believing in having a social role to play", said Omar El Sanhoury, Masary's CEO.
Masary depends on partnering with small entrepreneurs in rural areas. Entrepreneurs build strong business relationship to enable them to have access to simple technological tools and more business opportunities using Masary's network. Masary's business model is simple; every participant in the echo system has to win, this is the challenge that Masary is fixing when dealing and negotiating their services with each party in the chain.
Masary founders and board of directors have a very solid experience and a history of building successful mass consumer and business propositions in the Telecommunication, IT and Financial sectors. Masary is a shareholding company, established in Egypt in 2008 and supported by a group of sister companies one of which is a well known System Integrator in Egypt; "Advanced Computer Technology (ACT)". Masary invested in the best technical setup in the field of electronic and mobile payment globally, Sybase 365 MCommerce & MPayment solutions, which was ranked number one by industry analysts ABI Research.
Masary is signing strategic partnership agreements with local key players in the value chain like Core Banking Application Provider, Mobile Banking Service Provider, an MFI Loan Tracking application provider, a Multinational System Integrator specialized in serving Banking and Telecommunications industries.
For more details about Masary, please visit http://www.e-masary.com