Paybox has found found a new partner in Egypt

Masary Egypt has chosen paybox payment solution to launch a number of services for the mobile market - mainly for the prepaid segment. End customers will be offered a wide range of services, starting with Micro Finance, Mobile Banking and Payments followed by Bill Payment applications. The new services, powered by the paybox Mobiliser Service Delivery Platform, should offer a convenient mobile customer experience for payments and money transfer services.

"The e-payment market in Egypt and the Middle East is not well developed, which leaves huge investment and revenue opportunities for Masary to take advantage of," said Omar El Sanhoury, Masary's General Manager. 

Masary's vision is to establish a real time payment brand for the masses that enriches their lives through job creation while jointly mobilizing and linking the life of the banked with the unbanked. Masary is aiming to be the leading electronic and mobile Payment hub initially in Egypt and later across the MENA region, says press release.

"paybox believes in supporting new mobile payment initiatives worldwide, especially in the Middle East region, where each country has its own business needs and dynamics. Partnering with local organizations that have the right Vision for developing lucrative, innovative business models across the region is something we are always looking for", said Eckhard Ortwein, CEO of paybox. 

Masary's role integrates the business of other financial institutions, by supporting their development by mobilizing their offerings to the market place. A direct benefit for participating businesses will be a faster cash conversion cycle, improvement of their cash flows, and efficiency levels moving towards seamless cashless transactions. 

"paybox is the leader for mobile Payment enterprise solutions in the MENA region, we are empowering Masary's vision to bring virtual wallets to the masses finger tips by linking the unbanked to the banked to enrich their lives; hence formalizing their transactions while gradually bringing them on-board the formal economy" said Moatasem Osam, paybox MENA regional Business Development Director.