Cairo – Mubasher: Mastercard collaborated with PayTabs Group to facilitate digital payment solutions for small and medium enterprises (SMEs) in Egypt, according to a press release.
PayTabs will utilize Mastercard’s global network and digital payments capabilities to secure a digital payments platform designed to elevate payment acceptance capabilities for SMEs.
The partnership will accelerate the country’s digital transformation agenda by providing small businesses with fast, secure, and cost-effective customizable solutions for accepting digital payments.
Through the private labelled digital payment solutions, merchants will be able to generate payment links, cutting down the time and effort needed compared to manual processes.
This boosts efficiency while offering additional features, such as QR codes, and improving the overall digital experience.
Karim Eyada, General Manager at PayTabs Egypt, said: “By providing acquirers with this state-of-the-art platform, we are not only supporting Egypt’s transition to a cashless society and enhancing digital payment accessibility but also enabling SMEs to thrive in the digital economy.”
“Together with Mastercard, we aim to boost digital transaction volumes, expand the reach of online payments, and elevate the overall user experience for both merchants and customers in Egypt,” Eyada added.
Mohamed Assem, Country Manager for Egypt, Lebanon and Iraq, at Mastercard, commented: “Together with PayTabs, we are delivering the next generation of payment solutions that will fuel the progress of Egypt’s SMEs sector, strengthening its role in the country’s digital transformation, and contributing to long-term economic resilience.”
In March, PayTabs Group acquired a 51% shareholding in PayTabs Egypt from EFG Finance, an EFG Holding company.
