The Egyptian electronic payments company “PayMob”, one of A15 investment companies, has launched a new product under the name “Accept”, which provides merchants with e-commerce services.
Accept allows merchants to carry out direct selling without the need to own a commerce website, which allows retailers to utilise the network to achieve the highest revenues.
Accept provides merchants with a platform that includes payment on delivery, payment on delivery through insurance cards, and payment through Internet and phones, all of which facilitate transactions and reduce cash trading and settlement operations.
Emily Renny, the product manager in PayMob, said that the company seeks to launch innovative models for electronic payment and to improve the system of payments. She said that the volume of e-commerce is expected to quadruple in the Middle East and North Africa (MENA), to reach $20bn by 2020 at a time when 86% of adults have bank accounts.
She said that these statistics form a great opportunity for Accept in the market, as they allow payment through the Internet and without it—which allows merchants a group of tools to accept payments of different forms whether through the Internet, mobile wallets, credit cards, or even cash payment on delivery.
PayMob helps traders provide smart solutions for payments, including through smart phones and credit cards, a step that PayMob started with and was met with great demand by customers. This is in addition to cash payment and several other methods.
PayMob seeks to expand outside the local market and opening new markets in the Arab Gulf this year, especially the United Arab Emirates, according to the company’s strategy.
The company also seeks to expand in the future in some African countries, Saudi Arabia, and countries whose markets are similar in nature to the Egyptian one.