Paymob, an Egyptian fintech start-up, partners with Uber for in-app payments

Paymob, an Egyptian fintech startup, has partnered with Uber to increase payment options on its Uber app. This partnership aims to help Egyptian drivers and riders become financially integrated.
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Paymob was founded in 2015 by Islam Shawky and Alain El Hajj. It provides payment solutions that empower digital financial service providers via mobile wallet technology.

The mobile wallet infrastructure of the startup processes more than 85% of the Egyptian market’s transaction throughput and also serves merchants in five additional markets including Kenya, Pakistan, and Palestine.

Paymob has closed a Series A funding round of US$18.5million earlier this year and has now entered into a strategic partnership with Uber. Riders can now top up their Uber wallets using a variety of payment methods to plan their trips ahead. Riders can also request trips at any time they wish, and the added payments are valid without expiration dates.

This partnership allows drivers to pay Uber’s service fees using in-app payment options. It is especially beneficial for those without bank accounts.

“Egypt has been moving quickly towards a cashless society, and financial inclusion. This makes expanding payment options via the Uber app an important step in ensuring that more people have access to Uber. Paymob’s partnership with Uber Egypt is a strategic move, aided by technology to provide seamless user experiences and integrate unbanked drivers into the digital economy,” Ahmed Khalil, general manager at Uber Egypt, said.

Omar El-Gammal (VP of global business development, Paymob) said that he was thrilled that Uber chose to work with Paymob.

He stated that he believes Paymob’s cooperation would allow more people to pay with their preferred payment method. This would also help to attract a wider range of digital consumers.

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