MID Takseet and Paymob to Enhance Consumer Finance Access
The collaboration aims to broaden the reach of consumer finance solutions.
MID Takseet, a consumer finance firm, joins forces with Egypt-based fintech Paymob to bolster consumer finance accessibility across Egypt.[1]
The collaboration aims to broaden the reach of consumer finance solutions by integrating MID Takseet's payment plans and financing services into Paymob's network, which comprises over 250,000 merchants and their clientele.
In the initial phase of implementation, MID Takseet's services will be seamlessly integrated into Paymob's point-of-sale (POS) terminals, facilitating in-store transactions via cards and digital wallets. The subsequent phase will see the integration extend to online platforms.
MID Takseet, renowned for its non-banking financial solutions, is dedicated to empowering businesses and consumers alike and fostering growth opportunities.
The MID Takseet mobile app streamlines financing processes, offering installment options for various products, including electronics, educational services, and home furnishings.
Founded in 2015 by Islam Shawky, Alain El Hajj, and Mostafa El Menessy, Paymob provides online and offline merchants with digital payment solutions.
In 2022, Paymob secured $50 million in Series B funding, led by Kora Capital, PayPal Ventures, and Clay Point.[2]
A year earlier, Paymob netted $18.5 million in its Series A round, led by Global Ventures with participation from A15 and Dutch entrepreneurial development bank FMO.[3]