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Wednesday, 23 September 2020

PayTabs offers services without charge to SMEs for three months starting October

Small businesses are getting access to EFG Hermes’ online payment platform PayTabs Egypt’s gateway services for three months at no charge, according to a statement (pdf). This option will be available for businesses that process EGP 100k per month in online transactions. The PayTabs gateway allows businesses to integrate cash flows from various sources on a single platform and is a joint venture between global payment solutions provider PayTabs and EFG Hermes.

Background: EFG set up PayTabs Egypt in April in its bid to expand its range of non-financial banking services, which it hopes will account for 50% of its profits by the end of 2021. EFG also offers a number of consumer finance products (ValU), e-payments (PayTabs), and microfinance (Tanmeyah), as well as other services including leasing and factoring.

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Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.