Home Startups Egyptian fintech startup Paymob partners with Uber to broaden in-app payment solutions.

Egyptian fintech startup Paymob partners with Uber to broaden in-app payment solutions.

by Weddy Thuranira
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Uber today announced a partnership with Paymob, a leading digital payment service provider, to expand payment options on the Uber app, in an effort to financially integrate a broader base of Egyptian drivers and riders, and as another step toward enhancing financial inclusion through ride-sharing technology, in support of Egypt Vision 2030.

Riders may now top up their wallets on the Uber app using a variety of payment options, allowing them to plan their trips ahead of time. Riders may request rides whenever they want without having to worry about carrying cash, thanks to extra payments that have no expiration dates. This partnership also makes it easier for drivers to pay Uber’s service fee (22.5 percent) via various in-app payment methods, which is especially beneficial to people without bank accounts.

Ahmed Khalil, General Manager of Uber Egypt, commented: “Egypt’s accelerated shift towards a cashless society and financial inclusion has made expanding payment options on the Uber app an important step towards availing access to more people. Partnering with Paymob is a strategic decision, empowered by technology, to facilitate a seamless experience for users, while integrating unbanked drivers within the digital economy.”

Omar El-Gammal, VP Global Business Development of Paymob, stated: “We are delighted thatUber chose Paymob broaden its in-app payment solutions which works greatly to proffer secure, seamless, and convenient payment solutions. We believe that the cooperation with paymob would certainly allow a larger base to pay conveniently with their preferred payment method and contribute to attracting a larger segment of consumers digitally.”

Paymob is an infrastructure technology enabler that provides payment solutions to empower digital financial service providers through mobile wallet technology. It was founded in 2015 by Islam Shawky, Alain El Hajj, and Mostafa Menessy.

The startup’s mobile wallet infrastructure processes more than 85% of transaction flow in Egypt, and it also serves merchants in Kenya, Pakistan, and Palestine.

On the Uber app, Paymob accepts payments by Meeza cards, OTC, and mobile wallets like Vodafone Cash and others, and will soon add more options.

In addition to the new Paymob payment methods, Uber offers a variety of payment choices on the app, including debit and credit cards, integrated e-payments, and expects to add more financial solutions in the upcoming period.

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