Egypt’s fintech startup, Paymob, expands into Pakistan

An Egypt-based digital payments provider, Paymob, has expanded its footprint with a new market entry in Pakistan.

The expansion followed an initial entry into other markets including Jordan and Kenya.

Paymob, a startup playing in the fintech ecosystem, has a promising market opportunity in Pakistan given the high population of the people, currently pegged at over 220 million.

The seven-year old startup seeks to impact the ecosystem by empowering MSMEs across all Pakistani cities with online and physical digital financial solutions, to manage and grow their businesses.

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Paymob’s CEO and co-founder, Islam Shawky, on why the startup chose to serve SMEs, told the media that the team believed that SMEs were the corner stone of every economy.

He said: “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.

“Paymob operates with a concrete belief that SME’s are the corner stone of every economy and enabling them automatically reflects on the country’s digital economy.”

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