Mastercard says it is renewing its digital payments partnership with CIB, Egypt’s largest private-sector bank. The collaboration will see Mastercard support CIB with things like core digital payments capabilities and card issuance, letting the bank deliver “secure, seamless, and efficient payment experiences for consumers and...
Mastercard and eCommerce enabler Bosta are partnering to support small- to medium-sized businesses (SMBs) in Egypt by introducing a dedicated discount program for Mastercard Business cardholders. The program will provide these SMBs with access to preferential benefits across Bosta’s logistics services, the companies said in...
Financial services enabler Paymob raised another $22 million to expand its offering in its core market of Egypt and its newer markets in Gulf Cooperation Council (GCC) countries. The $22 million Series B extension round follows a $50 million initial Series B funding round in...
Cartona has raised $8.1 million in a Series A extension fundraise to continue growing the product rollout, verticals and offerings of its B2B platform for businesses in Egypt and, in the future, other markets in the Middle East and North Africa (MENA) region. The platform currently...
February 16, 2023
The imbalance between payments issuance and acceptance is a major pain point in emerging markets. According to Islam Shawky, co-founder and CEO at Cairo-based digital payments service provider Paymob, that challenge is holding back businesses, particularly small mom-and-pop shops, from unlocking their full business potential. “We’re looking at markets that are very advanced in issuance […]
November 29, 2022
In Egypt, small firms, including mom-and-pop stores, make up about 90% of local food and grocery sector, with the “Walmarts and the Walgreens of Egypt only representing a very tiny...
August 18, 2022
According to World Bank data, in 2021 just 22% of the Egyptian population over the age of 15 owned a debit or credit card, and only 2% of the population...
June 02, 2022
With almost 2,000 cars sold daily and nearly 750,000 vehicles sold on a yearly basis, the Egyptian used car market, representing a Gross Merchandise Value (GMV) of about $10 billion,...
September 21, 2026
Paymob, an Egypt-based FinTech company, raised $35 million in pre-Series C funding, the company said in a Monday (Sept. 21) post on LinkedIn. Paymob said in the post that it will invest the new funding in “wider payment coverage across our [Middle East and North Africa (MENA)] markets, new products for [small- to medium-sized business […]
May 24, 2026
Mastercard says it is renewing its digital payments partnership with CIB, Egypt’s largest private-sector bank. The collaboration will see Mastercard support CIB with things like core digital payments capabilities and...
February 10, 2026
Mastercard and eCommerce enabler Bosta are partnering to support small- to medium-sized businesses (SMBs) in Egypt by introducing a dedicated discount program for Mastercard Business cardholders. The program will provide...
September 11, 2024
Financial services enabler Paymob raised another $22 million to expand its offering in its core market of Egypt and its newer markets in Gulf Cooperation Council (GCC) countries. The $22...
