The Banking Executive Magazine - March 2024 Issue

MID Takseet MID TAKSEET AND PAYMOB BOOST ACCESS TO CONSUMER FINANCE IN EGYPT MID Takseet, a consumer finance company and Paymob, the leading financial services enabler in the Mid- dle East, North Africa and Pakistan (MENAP) announce their partnership to expand access to best-in-class consumer finance solutions in Egypt. The strategic partnership extends MID Takseet’s innovative flexible payment plans and financing serv- ices to Paymob’s vast network of over 250,000 merchants and their customers in Egypt. In the initial phase, MID Takseet will be inte- grated into Paymob’s point of sale (POS) terminals to power in-store card and digital wallet transactions, with online integration to follow in the second phase. Mahmoud El-Ghawas, CEO of MID Takseet commented: “MID Takseet is committed to incorporating cutting- edge technology and payment solu- tions to enhance our clients' capabil- ities. In partnership with Paymob, a leading payment enabler, we aim to deliver exceptional services, priori- tizing customer satisfaction at the forefront. This collaboration facili- tates a seamless purchasing and pay- ment experience through an expansive network of merchants, al- lowing us to integrate Paymob-affili- ated merchants into our network” Gillan Shaaban, COO of Paymob stated: “We are thrilled to partner with MID Takseet to provide their cutting-edge consumer finance solu- tions to our merchants. Data shows that when merchants offer their cus- tomers a variety of flexible payment options, sales conversions increase by 18% and the basket size increases by 33%, resulting in business growth. Our partnership with MID Takseet is another step in Paymob’s mission to enable businesses to com- pete in the digital economy and con- tribute to sustainable, inclusive economies.” MID Takseet offers superior non- banking financial solutions through an array of advanced services, em- powering businesses and customers to grow. By introducing innovative solutions and programs, it enhances financial inclusion, aligns with tech- nological advancements, and estab- lishes itself as a leading figure in the consumer finance market. MID Tak- seet simplifies financing through its mobile app, offering installment serv- ices for a range of products such as electronics, educational services, and home furnishings. the BANKING EXECUTIVE 28 ISSUE 183 MARCH 2024