MID Takseet, a prominent consumer finance company, and Paymob, a leading financial services enabler in the Middle East, North Africa, and Pakistan (MENAP), have announced a strategic partnership aimed at enhancing access to best-in-class consumer finance solutions in Egypt.

This collaboration will see MID Takseet’s innovative flexible payment plans and financing services being extended to Paymob’s extensive network of over 250,000 merchants and their customers in Egypt. Initially, MID Takseet will integrate into Paymob’s point-of-sale (POS) terminals to facilitate in-store card and digital wallet transactions, with online integration planned for the subsequent phase.

Mahmoud El-Ghawas, CEO of MID Takseet commented: “MID Takseet is committed to incorporating cutting-edge technology and payment solutions to enhance our clients’ capabilities. In partnership with Paymob, a leading payment enabler, we aim to deliver exceptional services, prioritizing customer satisfaction at the forefront. This collaboration facilitates a seamless purchasing and payment experience through an expansive network of merchants, allowing us to integrate Paymob-affiliated merchants into our network”

Gillan Shaaban, CCO of Paymob stated: “We are thrilled to partner with MID Takseet to provide their cutting-edge consumer finance solutions to our merchants. Data shows that when merchants offer their customers 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 compete in the digital economy and contribute to sustainable, inclusive economies.”

MID Takseet is renowned for offering superior non-banking financial solutions through a range of advanced services, empowering businesses and customers alike. Through innovative solutions and programs, the company promotes financial inclusion, embraces technological advancements, and solidifies its position as a leader in the consumer finance market. MID Takseet simplifies financing through its mobile app, offering installment services for various products, including electronics, educational services, and home furnishings.

The partnership between MID Takseet and Paymob represents a significant step forward in enhancing access to consumer finance solutions in Egypt, underscoring both companies’ commitment to driving innovation and fostering financial inclusion in the region.