Paymob enables Apple Pay acceptance for merchants in Egypt

This development follows the recent introduction of Apple Pay in the country, allowing customers to use Apple devices for in-store, online, and in-app transactions.

The integration enables merchants to offer a secure, contactless payment option. Customers can make purchases by holding their iPhone or Apple Watch near a compatible payment terminal after authenticating the transaction using Face ID, Touch ID, or a passcode. Each payment is secured with a unique, dynamic code. Additionally, Apple Pay supports purchases through apps and websites on iPhone, iPad, and Mac, eliminating the need for users to manually input payment and shipping details.

Paymob, a financial services provider operating in the Middle East and North Africa, has announced that its merchant network in Egypt can now accept Apple Pay.

Expanding digital payment solutions in Egypt

Paymob’s adoption of Apple Pay aligns with the growing demand for modern payment technologies in Egypt. For businesses, the feature is expected to reduce cart abandonment and drive sales by providing a seamless digital payment experience.

Official representatives from Paymob emphasised the importance of the launch for the local payments ecosystem. They noted that Apple Pay offers merchants an opportunity to meet consumer expectations for secure and convenient payment methods. They also highlighted the wider potential for digital payments to support business growth in Egypt's evolving digital economy.

Paymob, which obtained the Central Bank of Egypt’s Payments Facilitator licence in 2018, continues to expand its services. The company provides access to over 50 payment methods, allowing merchants to accept payments across various channels and adapt to shifting consumer preferences.

In September 2024, Paymob extended its Series B funding round to USD 72 million, to maintain profitable growth in its core market. Following this announcement, Paymob raised an additional USD 22 million Series B extension round, which took the company’s total investment to USD 72 million. The funding was led by EBRD Venture Capital with participation from Endeavor Catalyst and other existing investors such as PayPal Ventures, BII, FMO, A15, Nclude, and Helios Digital Ventures.