paymob The Fintech Landscape of Egypt in 2022 by Richie Santosdiaz for The Fintech Times
Fintech Middle East & Africa Paytech

Paymob Partners with MID Takseet to Expand Consumer Finance Solutions in Egypt

Paymob, a provider of financial services in the Middle East, North Africa, and Pakistan (MENAP), has teamed up with MID Takseet, a consumer finance company, to enhance access to consumer finance solutions in Egypt.

Since its founding in Egypt 2015, Paymob’s gateway has offered the largest and most comprehensive number of payment acceptance methods in North Africa, positioning it as a trusted growth partner to businesses of all sizes.

The strategic partnership extends MID Takseet’s flexible payment plans and financing services to Paymob’s vast network of over 250,000 merchants and their customers in Egypt.

In the initial phase, Paymob will integrate MID Takseet into its point of sale (POS) terminals to facilitate in-store card and digital wallet transactions, with online integration slated for the second phase.

“MID Takseet is committed to incorporating cutting-edge technology and payment solutions to enhance our clients’ capabilities,” said Mahmoud El-Ghawas, CEO of MID Takseet. “In partnership with Paymob, a leading payment enabler, we aim to deliver exceptional services, prioritising customer satisfaction at the forefront.

“This collaboration facilitates a seamless purchasing and payment experience through an expansive network of merchants, allowing us to integrate Paymob-affiliated merchants into our network.”

While Gillan Shaaban, CCO of Paymob stated: “We are thrilled to partner with MID Takseet to provide their cutting-edge consumer finance solutions to our merchants. Data shows that when merchants offer their customers a variety of flexible payment options, sales conversions increase by 18 per cent and the basket size increases by 33 per cent, resulting in business growth.

“Our partnership with MID Takseet is another step in Paymob’s mission to enable businesses to compete in the digital economy and contribute to sustainable, inclusive economies.”

MID Takseet offers advanced non-banking financial solutions, fostering growth for businesses and customers. With its programmes, it enhances financial inclusion and aligns with digital trends, establishing itself as a leader in consumer finance. Through its mobile app, MID Takseet also provides installment services for various products, boosting financial flexibility and convenience for users.

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