PayMob company for mobile payments managed to achieve a milestone of conducting three million payment transactions in 2016 totalling EGP 1.6bn.
The company also managed to go beyond this figure in the first half (H1) of 2017. According to Emily Renny, product manager of Accept, the non-proliferation of the culture of electronic payment is the most important challenge facing the sector in the Egyptian market, next to the non-activation of the laws of electronic signature.
He also stated the belief that electronic payments market is witnessing great development during the current period, especially since there is a large group in the community that does not use credit cards and prefers to buy cash even through the electronic commerce platforms. One of the reasons behind that is the lack of appropriate electronic payment methods.
Source: http://menafn.com/1095682188/Egypt--3m-transactions-worth-EGP-16bn-conducted-through-PayMob-in-2016