Paymob and MID Takseet Boost Access to Consumer Finance in Egypt
March 28, 2024

Paymob, the financial services enabler in the Middle East, North Africa and Pakistan (MENAP), has joined forces with consumer finance company MID Takseet to expand access to best-in-class consumer finance solutions in Egypt.

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. Initially, MID Takseet will be integrated into Paymob’s point of sale (POS) terminals to power in-store card and digital wallet transactions, with online integration to follow in the second phase.

Mahmoud El-Ghawas, CEO of MID Takseet commented: “MID Takseet is committed to incorporating cutting-edge technology and payment solutions to enhance our clients' capabilities. 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.”

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 non-banking financial solutions through an array of advanced services, empowering businesses and customers to grow. By introducing innovative solutions and programmes, it enhances financial inclusion, aligns with technological advancements, and establishes itself as a leading figure in the consumer finance market. MID Takseet simplifies financing through its mobile app, offering installment services for a range of products such as electronics, educational services, and home furnishings.

This approach securely and rapidly enhances customers' financial flexibility and daily life convenience. By delivering top-tier non-banking financial solutions and a suite of advanced services, MID Takseet fosters growth with innovative solutions and programs. This commitment to financial inclusion and alignment with digital trends solidifies its status as a significant entity in the consumer finance market.

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. Paymob’s omnichannel payments infrastructure enables over 40 online and in-store payment methods via its gateway, POS terminals and Paymob app. Paymob aims to make the process of growing a business in the digital economy simple, seamless and agile, while delivering a great customer experience to its merchants and cutting-edge products to its partners.