PayTabs announces launch of pioneering e-commerce platform “Paymes” to support independent and small businesses in Egypt

PayTabs announces the launch of the groundbreaking “Paymes” platform in the field of e-commerce to support independent and small businesses in Egypt. Through this strategic partnership with the “Paymes” social platform, merchants will be able to collect their membership fees through social media platforms.

Cairo: PayTabs, the leading award-winning provider of B2B payment solutions in Eurasia, today announced the launch of Paymes, the leading e-commerce platform on social media platforms in Central Asia, to be It serves as the social trading platform for PayTabs in the middle East and North Africa region. This strategic partnership will help facilitate the process of collecting payments through social media platforms in seconds, serving millions of workers in many fields, including independent business owners, craftsmen, consultants, people leaving home down jobs, personal trainers, temporary contract workers and others. This partnership will contribute to the maximum benefit of the wide network unique to PayTabs in the markets in which the company operates, to improve the distribution of the Paymes brand.

This partnership is considered Paymes’ first achievement as a platform for PayTabs to serve social media merchants and freelancers in the Middle East, provided this service will first be launched in Egypt to take advantage of the PayTabs Egypt network . This new financial services technology platform will expand the customer base as well as provide opportunities for small businesses to generate revenue. Paymes will allow its small business owner base in the Egyptian market to sign up to the platform and create their own digital store to display the products or services they provide, thus adding products directly to shopping carts, their contact- and enter delivery data, and complete transactions with ease and security. Thanks to the tools and resources provided by the “Paymes” platform, users will be able to create secure links to complete payments through social media platforms including Facebook, WhatsApp and Instagram, in addition to accepting contactless payments using a QR code create.

In this context, Abdulaziz Al-Jouf, CEO and founder of PayTabs, expressed his joy at signing this agreement with Paymes, in view of the rapid and increasing proliferation of shopping on social media platforms in the Middle East and North Africa, as well as the high degree of dependence on employers Temporary and small businesses, from design and consulting to clothing and paint. He pointed out that the extensive research conducted by the company showed that this agreement was intended to support such commercial activities due to its great importance in the economy, adding that the “Paymes” platform was making payment methods available through social media platforms for small business owners in Egypt, and the platform also seeks to maximize the use of digital solutions that help facilitate the lives of millions of those who contribute to the support and revival of the Egyptian economy. Al-Jouf explained that the next phase in the company’s strategy is targeting the markets of the United Arab Emirates and Saudi Arabia, as part of the company’s continued interest in the market for trading through social media platforms in the Middle East. -East and North Africa.

It is noteworthy that the research conducted by VISA entitled “Small Business Recovery in 2021” revealed that half of the Egyptian traders surveyed consider investing in digital payments to be essential for the recovery of the market. The latest data suggest that the number of temporary workers in Egypt is 14 million, but reports released by Reuters suggest that this data is much less than the actual numbers. Consequently, this partnership between the two platforms aims to seize the growth opportunities with which the market pulses, and seeks to provide secure digital payment solutions to small merchants to serve the trading market through social media platforms.

Hani Suleiman, general manager of PayTabs in Africa, in turn said that the e-commerce market is growing rapidly, as well as the base of freelancers, offering promising opportunities that attract investors. He stressed that PayTabs has signed this partnership with the Paymes platform to offer its experience in the Egyptian market, as part of its efforts to continue to provide innovative, high-quality products and solutions that meet the aspirations of various segments satisfy customers, whether potential or new. He pointed out that the “Paymes” platform has innovative tools and resources that will redraw the map of the digital payment market, and the platform is also characterized by ease of use and efficiency in completing daily transactions, which makes it the best making way for small retailers to communicate with customers in effective and easy ways. He stressed that this partnership comes within the framework of PayTabs’ commitment to explore new horizons that help customers succeed and expand in the e-commerce market through social platforms.

On the other hand, Hasan Jabarov, co-founder of Paymes, emphasized that the world is currently seeing the largest base ever of small and free-working traders, especially after the outbreak of the (Covid-19) virus pandemic. Jabarov looks forward to working with PayTabs to achieve the real breakthrough that small retailers are waiting for. He also expressed his happiness at helping them with e-commerce and facilitating their work through social media platforms. . Jabarov added that the platform will enable users to create links on social media platforms to get their money within seconds. He pointed out that the platform will allow traders to display and market their products and services in Egypt and around the world, which will benefit them and achieve the profits they are striving for. Jabarov concluded that “Paymes” aims to achieve success as quickly as possible in Egypt, the Middle East, and the world at large.

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About PayTabs

PayTabs is the leading provider of B2B payment solutions and a multi-award winning electronic payment processing company founded by Saudi businessman Abdulaziz Al-Jouf.

The company started its first transactions through the payment gateway in June 2014, knowing that the company is currently conducting its transactions in many international currencies in a secure manner. The company uses a tool known as API modules to provide efficient payment solutions among small and medium-sized businesses operating in different sectors, enabling customers to carry out their transactions easily through websites. PayTabs is distinguished by providing billing services electronically, which contributes to providing an easy billing experience to its customers, where they can complete their payments by scanning a QR code or through social media platforms.

PayTabs operations began with the support of the Saudi Aramco Center for Entrepreneurship (Waed) and subsequently with Saudi private investments. During this period, the company has succeeded in developing and launching an integrated package of electronic payment solutions that has contributed to a radical change in this promising sector, including mobile applications. Cell phones, hospitality services, government services, education, airlines, tourism, transportation and bill payment, in an effort to disconnect dollars from companies operating in the Middle East and North Africa markets, whose transactions are estimated at billions .

In April 2021, the company launched “PT Touch”, the first electronic point-of-sale solution in the Middle East and North African market, which works to convert smartphones into electronic points of sale (POS).

The company conducts its activities from its headquarters in the Gulf countries, especially the company’s headquarters in the UAE and Saudi Arabia, in addition to its direct presence in many markets, including Egypt.

To learn more about the company’s achievements, please visit the following link: abs.com/arTayPhttps:/

About EFG Hermes Holding

EFG Hermes Holdings (HRHO.CA Code: EGX; EFGD: LSE) has a direct presence in 13 countries across four continents as the company has its origins in the Egyptian market and has expanded over 38 years of continuous performance to transform into an investment bank in the middle east

Middle East only to a comprehensive bank in Egypt and the leading investment bank in emerging and border markets. The company has a professional team capable of providing a unique package of financial and investment services, ranging from promotion, underwriting, asset management, stockbroking, research and direct investment in emerging and frontier markets. In the Egyptian market, the company has a leading platform in non-bank financing services, covering various activities including microfinance, financial leasing and factorization, as well as buy now and pay later (BNPL), real estate financing and insurance.

With its recent acquisition of a majority stake in aiBANK, it has also enabled the company to offer banking products and services.

The three business sectors, Investment Bank, Non-Bank Finance and Commercial Bank, have contributed to consolidating the leading position unique to the company and improving its ability to launch more financial products and services, thus contributing to providing a comprehensive package of services to meet the needs of its customers, individuals and companies of all sizes, and access to new customers.

We are proud to be in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Amman | Jordaan | Pakistan | United Kingdom | Kenya | USA | Bangladesh | Nigeria | Vietnam

For more information please contact:

Media Relations Division of EFG Hermes Holdings

PublicRelations@EFG-Hermes.com

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Head of Marketing and Communications at EFG Hermes Holding melgammal@efg-hermes.com

Dismissal

EFG Hermes Holdings may have referred in this statement to future matters, including, for example, management’s expectations, strategy, objectives, growth opportunities and future indicators of various activities. These statements about the future are not seen as real facts, but rather give the group’s vision for the future, and many of these expectations, in terms of their nature, are uncertain and beyond the company’s control, and these include – for example, but not limited to – fluctuations in the financial markets and the actions of current and potential competitors and the circumstances The general economic and the consequences arising from the local currency position and the current and future legislation and various regulations. Consequently, the reader should be careful not to rely excessively on forward-looking statements that are correct on the date of publication.

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