Paymob, an Egypt-based financial services enabler in the Mena region, has joined Mena Fintech Association (MFTA) to drive innovation in the retail industry.
Headquartered in Cairo, Paymob’s omnichannel payment infrastructure serves businesses such as Chalhoub Group and Tabby.
Paymob’s EVP of strategy, Imane Adel, said: “MFTA provides a robust knowledge-sharing platform in the region and we look forward to contributing our insights to help advance the ongoing conversation around financial inclusion and the central role that fintech innovation plays in achieving meaningful results.
“MFTA’s vision is to position the Middle East and North Africa as a hub for fintech innovation and investment and to promote financial inclusion and literacy across the region. The association brings together startups, investors, regulators, and established players in the industry to foster a dynamic and collaborative ecosystem that supports innovation and growth.”
Founded in 2015 by Islam Shawky, Alain El Hajj and Mostafa Menessy, Paymob offers more than 40 payment methods and empowers more than 170,000 SME merchants to manage and scale their businesses by giving them access to financial services not readily available in emerging markets.
In February, Paymob partnered with Khazna, a financial app, to boost the growth of merchants by offering them additional innovative solutions that meet consumer demands for flexible purchases.
Chairman of MFTA, Nameer, said: “We are pleased to welcome Paymob to MFTA and to have them join our community of fintech innovators.
“Their innovative payments infrastructure enables merchants to offer the most innovative digital payments methods to their customers, especially those underserved by traditional banks, which aligns with our mission to promote financial inclusion and literacy across the region. We look forward to working with Paymob and our other members to drive the regional fintech agenda and promote the growth of the industry.”
