Yalla Super App has just crossed a record-breaking milestone of 1 million users executing more than 2M transactions with value exceeding 2 Billion Egyptian Pounds in less than 8 months from launch, which has never been achieved before by a financial or non-financial app in the region which means that more than one million Egyptian now enjoy an easier life using Yalla Super App’s financial and non-financial services, and are enjoying easier payments online and in-stores, anywhere in the world using Yalla Card. Paysky is aiming by the end of 2023 to be 4 million users. This motivates and drives Paysky to keep innovating and disrupting the status quo when it comes to financial technology in line with the country’s endeavors of digital transformation and financial empowerment.
Dr. Waleed Sadek founder and CEO of Paysky insured that PaySky has disrupted the Fintech industry in the Middle East & Africa, and has developed a broad range of digital payment solutions to banks, central banks, financial institutions, businesses, and individuals. PaySky provides innovative e-payment solutions in order to democratize digital financial services, and achieve financial inclusion goals. Currently our investment in Egypt alone is exceeding EGP 200 million but we also are operating in more than 10 countries.
He also added that Paysky will keep disrupting the market by offering new use cases within Yalla ecosystem aiming to make people lives easier, empowering them to pay, send, save, invest and order all their daily needs digitally Also extending the scope of financial services to reach clients outside the scope of traditional banks coverage. As technology is one of the sectors affecting the global financial markets and a major engine for growth and job opportunities, PaySky aims to keep developing a broad range of digital payment solutions to financial institutions, businesses, and individuals and spread the culture of electronic payments, this comes aligned with the strategy of the government’s pursuit of the creation of an effective digital society, encouraging the use of digital payment methods, and achieving financial inclusion through building digital skills and capabilities for organizations and individuals and supporting entrepreneurship initiatives for small and medium enterprises.
Dr. Waleed mentioned that Paysky aspire to serve more and more people across the world to fulfill our core mission of making people’s lives easier by democratizing financial services. In addition to having operations in over 10 countries including Egypt, United Arab Emirates, Saudi Arabia, Pakistan, Bahrain, Libya, Botswana, Uganda, Sudan and Qatar.
Dr. Waleed focused on Yalla Super App, as it has been announced to launch in UAE in the coming quarter, this comes within their expansion plan for Yalla in key markets in the region, starting with a very promising market like the UAE, followed by Saudi Arabia then Pakistan. These are considered the largest markets sending and receiving remittances in the region and we plan to do so within 2023.