Cairo – Mubasher: PayTabs Egypt, a joint venture (JV) between the Egyptian Financial Group Hermes Holding (EFG Hermes) and PayTabs, is offering existing and prospective clients free access to a payment gateway for three months.
The first-of-its-kind move in the MENA region is “the widest charge-free extension of an online payment and checkout platform,” EFG Hermes said in a bourse disclosure on Tuesday.
The initiative is aimed at supporting small- and medium-sized enterprises (SMEs) to overcome the challenges posed by the coronavirus (COVID-19) crisis.
Businesses that generate about EGP 100,000 in online sales per month are eligible for the offer. From 1 October to 31 December, businesses will be allowed a free-of-charge access to the company’s digital payment solutions.
“The initiative leverages and seeks to accelerate the rapid ongoing shift from a traditional retail ecosystem centered on brick-and-mortar models towards a greater role for e-commerce activity.”
This move comes in line with the Egyptian government’s efforts towards financial inclusion.