Digital financial services provider, Paymob has teamed up with Egyptian company Khazna to expand access to digital financial services in the region, the companies have announced.
Paymob, which was founded in 2015, currently operates in the Middle East, North Africa, and Pakistan (MENA-P). It specialises in offering its merchants comprehensive payment acceptance methods via its gateway, point-of-sale (POS) and Paymob app products.
Through the partnership select merchants will now be able to offer Khazna services to users of the Khazna app via Paymob’s integrated POS devices.
Speaking on the announcement, Ahmed El Medawy, General Manager of Khazna Egypt, said, “This in turn would increase the variety of outlets that Khazna users can purchase from and ease the transition to a cashless society, by having our merchants gain seamless access to POSs provided by Paymob.”
By expanding access to digital financial services in the country, this partnership aims to fuel financial inclusion in line with the Central Bank of Egypt’s recently launched Financial Inclusion Strategy, and Egypt’s Vision 2030.
Khazna was founded in 2020 with the aim of enhancing the financial well-being of underbanked Egyptians. Among its services are a Khazna prepaid card in partnership with ADIB-Egypt, payroll advance services, seamless purchases from a variety of merchants, and online bill payment.
