Egypt-based fintech Paymob has partnered with streaming platform Shahid to enable the latter’s customers to pay for subscriptions via electronic wallets.
With this partnership, Shahid – which previously only accepted credit card payments in Egypt – becomes one of the first subscription video on demand (SVOD) service in the market to offer its subscribers e-wallet payment options. This API integration will enable Shahid subscribers to pay subscription fees securely with any local e-wallet. With an estimated 25 million e-wallet users in Egypt, the partnership with Paymob will expand Shahid’s potential customer base significantly.
Paymob’s officials stated that they are proud to be the first payments gateway to power e-wallet payments for VOD subscriptions in Egypt. Their technology enables Shahid to lead the way in the industry, making SVOD more accessible to millions of people by expanding digital payments acceptance methods.
E-wallets have rapidly gained consumer adoption due to their ease of use, convenience, and added security. They offer consumers fast, easy, and seamless customer experiences expected in the digital age. In Egypt, Paymob processes 87% of e-wallet transaction volumes and enables millions of e-wallet users on its infrastructure railways. Paymob is committed to serving as a trusted growth partner to businesses across MENAP by making technologies readily available to the 170,000 businesses in its growing network.
Representatives from Shahid commented that they are happy to announce their latest partnership with Paymob, through which VF Cash will be the exclusive telco wallet for Shahid. This latest agreement is a testament to their commitment to providing innovative and accessible payment solutions to customers, and with Paymob’s expertise, they are confident that this partnership will enable them to provide more convenient and secure subscription options for Shahid.
What does Paymob do?
Paymob is a financial services enabler in the Middle East, North Africa, and Pakistan (MENAP), delivering the latest financial technologies to customers in the region. Its omnichannel gateway offers more than 40 payment methods and empowers over 170,000 SME merchants to manage and scale their businesses by giving them access to financial services not readily available in emerging markets.
Headquartered in Cairo, Egypt, Paymob is a payments facilitator in North Africa and employs 1,400 team members across MENAP. The company launched operations in Pakistan in 2021 and was founded in 2015.