Paymob, an Egyptian digital payments provider, has expanded its operations into Pakistan, with the goal of providing online, POS, and “Tap on Phone” payment solutions to Pakistani merchants.
Paymob believes there is a significant market opportunity in Pakistan. The country has a population of over 220 million people, and its cities are home to a variety of retail outlets and small companies.
“We are very excited to be launching Pakistan. This comes as an essential step after our successful journey in leading the Egyptian payments landscape where we enable over tens of thousands of merchants with innovative financial solutions,” Shawky said.
Over four million SMEs utilize just over 80,000 POS terminals and fewer than 3,000 e-commerce gateways, making it “perfectly suited” to Paymob’s ability to bridge the digital financial gap, as well as meeting the company’s criteria and strategy to expand further across MENAP and beyond.
Meanwhile, Pakistan is the world’s fifth largest market for freelancing, servicing both local and international customers, despite a lack of local digital payment options.
Individuals and microbusinesses can use Paymob to get payment links, soft POS solutions, and tools to manage payments and develop their businesses.
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.
