- Waleed Sadek: With Yalla Super App, we aim to facilitate and ease the day to day financial and non-financial needs of society across Egypt, the Middle East, and Africa
Cairo: In line with Egypt's Vision 2030 towards sustainable development and digital transformation, PaySky, the premium payment solutions provider and technology partner to the Egyptian Post and Visa, has been working relentlessly to bring the Egyptian community "Yalla Super App."
In an unprecedented way, the super app will behave as a single point of entry for individuals, merchants, financial institutions, and companies around the globe to process, accept and facilitate financial and non-financial payments and transactions. This contributes significantly to the development of financial performance through adopting the most advanced financial technologies.
Dr. Waleed Sadek, Founder and Chief Executive Officer of PaySky, states, "We are proud of our partnerships. As the technological arm, we are working in sync to develop the new super app in keeping with the fast-tracked technological advancements the world over in e-payments and digital solutions. We aim to facilitate and ease the day-to-day financial and non-financial needs of society across Egypt, the Middle East, and Africa."
Dr. Sadek confirms that the company has succeeded in developing software and powering financial service providers, institutions, central banks, and telecoms through delivering a broad range of digital payment solutions, democratizing the payments ecosystem among merchants, corporates, and consumers worldwide.
"The new policies set forth by the Egyptian government and the Central Bank of Egypt have significantly contributed to the penetration of electronic payments, which in turn have had a positive impact in our progress within the Egyptian market," shares Dr. Sadek. "This is owing to the directives of the Egyptian government and leadership that have been keen in developing this sector," emphasizes Dr. Sadek highlighting the importance of strategic partnerships between PaySky and service providers to develop the market and facilitate consumer transactions.
"This further cements the importance of payment transactions in that both sending and accepting money transfers are the cornerstone of a vibrant economy and contribute to the development and acceleration of positive economic trend and growth."
Over the next ten years, Dr. Sadek announced that the company aims to provide its services to one billion individual consumers and one million companies and merchants in various markets through digital financial services. This comes as part of PaySky's promise to democratize payment solutions to achieve true economic prosperity and social welfare.
Praising the role Egyptian governmental institutions have played, Dr. Sadek said, "Entities such as the Financial Regulatory Authority and the Central Bank of Egypt have been instrumental in providing support through legislation and policy-making that has allowed us to be at the realm of the payment industry among the region."
It is worth mentioning that PaySky is named amongst the world's leading Fintechs, propelling payments and enabling the growth of socio-economic indices, in an article by the Financial Times. PaySky has revolutionized payment solutions in the Egyptian, Saudi, UAE, Pakistan, Bahrain, Libya, and Botswanian markets.
The super app concept has yet to gain traction on the global landscape. However, it has made considerable strides in Asia, specifically China and India. It is considered an essential part of day-to-day having one app perform multiple e-commerce and digital functions.
The super app is a comprehensive digital solution integrated with financial services that facilitates the lives of individuals and companies. Its launch within the local market positions Egypt as the region's e-payments pioneer in line with the advancements of today's digital era contributing to achieving Egypt's Vision 2023 by laying the foundations for digital economic empowerment of the Egyptian community.
© Press Release 2021
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