PayTabs Egypt, a provider of digital payment solutions, partnered with Souhoola, an Egyptian buy now, pay later (BNPL) platform.
Via the collaboration, PayTabs Egypt will add another BNPL option to its portfolio of payment solutions, the companies said in a Monday (Feb. 26) press release.
“By integrating Souhoola’s BNPL solution, we are not only addressing the buying habits and lifestyle choices of consumers but also providing our merchants with a competitive edge,” PayTabs Egypt General Manager Karim Eyada said in the release.
The new offering will enable PayTabs Egypt’s eCommerce merchants to increase the number of payment options they offer online, meet the growing demand for convenient payment options and boost their customers’ “add to cart” rate, according to the release.
“Souhoola is committed to empowering consumers and merchants alike with flexible and accessible payment options,” Souhoola CEO Ahmed Al-Shanawany said in the release. “Together with PayTabs Egypt, we look forward to contributing to a seamless and enjoyable shopping experience for all.”
In an earlier partnership, PayTabs Egypt said in August 2022 that it was partnering with digital shopping platform Waffarha to offer digital payment solutions and further Egypt’s shift toward a cashless society.
With that partnership, shoppers can pay for their purchases with credit cards and save their card details for future use, while merchants can appeal to more customers by offering easier payment methods.
In another collaboration impacting Egyptian consumers, Visa said Feb. 11 that it signed an agreement with Egyptian Banks Company to introduce new solutions around electronic payment services, digital wallets and other offerings.
The partnership aims to expand the scope of instant payments and streamline the receipt of international remittances from Egyptian expatriates.
In August, Mastercard partnered with Ingiz, a family financial management startup in Egypt, to introduce a digital payments application to drive financial literacy and inclusion among Egypt’s youth.
The partnership aims to facilitate payment processing and extend the reach of the app to a range of merchants and consumers.
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