Payment processing company PayTabs Egypt and digital shopping platform Waffarha have partnered to offer digital payment solutions and continue Egypt’s transition to a cashless society.
Shoppers will be able to pay for purchases quickly and seamlessly with credit cards and save their card details for future use, and merchants will be able to attract more customers by offering easier payment methods, according to a Wednesday news report. August 10. Release.
“We couldn’t be more proud of this partnership, as it is a critical step in facilitating payment solutions for a large consumer market like Egypt,” said PayTabs General Manager Africa. Hany Suleiman said in the press release. “Collaborating with a savings giant such as Waffarha has given us an innovative and user-friendly platform where end users can pay their bills in minutes and with a simple click.”
The World Bank’s Global Findex database found that in 2021, 73% of Egypt’s population was unbanked, and even among account holders, around 70% of Egyptians had never used a credit card. payment, mobile phone or internet to make a digital payment.
Read more: Startups are using tech innovation to move the needle on financial exclusion in Egypt
While Egypt lags other countries on the world stage in this regard, a number of FinTechs are looking to remedy the situation and increase access to key financial services in the country.
The PayTabs announcement comes three months after the company launched a new social commerce platform called Paymes for customers in the Middle East/North Africa (MENA) region.
See more : Egyptian PayTabs Unveils Paymes Social Commerce Platform
In April, the company announced that it had partnered with Visa to bring the “Tap to Phone” service to mobile users in the Middle East.
Read more: Middle East-based PayTabs partners with Visa for “Tap To Phone” point-of-sale service
“Millions of merchants will now be able to rely solely on contactless software solutions to accept payments,” PayTabs said at the time.
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