Cairo – Egypt-based financial services enabler Paymob has partnered with Shahid, the world’s leading Arabic streaming platform by MBC Group to endorse video-on-demand services in the Egyptian market.
The partnership, which marks an industry-first in Egypt, will allow Shahid users in the Arab republic to pay for their subscriptions through electronic wallets that are processed via Paymob’s infrastructure, according to a press release.
Shahid previously accepted credit card payments only in Egypt, yet after this collaboration with Paymob it will become the first and only subscription video-on-demand (SVOD) service in the local market to offer its subscribers e-wallet payment options.
With nearly 25 million e-wallet users in Egypt, the partnership between the two entities is expected to boost Shahid’s potential customer base in a significant way.
Chief Commercial Officer (CCO) at Paymob, Gillan Shaaban, said: “Our technology enables Shahid to lead the way in the industry, making SVOD more accessible to millions of people by expanding digital payments acceptance methods.”
In Egypt, Paymob acquires 87% of e-wallet transaction volumes and serves millions of e-wallet users on its infrastructure railways.
Meanwhile, Chief Commercial and Marketing Officer (CCMO) at Shahid, Natasha Matos-Hemingway, commented: “This latest agreement is a testament to our commitment to providing innovative and accessible payment solutions to our customers, and with Paymob’s expertise, we are confident that this partnership will enable us to provide more convenient and secure subscription options for Shahid.”
In 2022, Paymob announced that the UAE has become its regional hub; a step that marks a milestone in the company’s global growth plans, driven by recent Series B funding led by PayPal Ventures. It further unveiled plans to make a sizeable investment in the UAE market over three years.
All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).