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PAYFORT to showcase e-payment solutions at Cairo ICT 2014 [CPI Financial]
[October 18, 2014]

PAYFORT to showcase e-payment solutions at Cairo ICT 2014 [CPI Financial]


(CPI Financial Via Acquire Media NewsEdge) Online payment service provider PAYFORT HAS announced plans to participate in the Cairo ICT 2014 event, which will be held at the Cairo International Conference Centre on 4-7 November. Egypt remains one of the most high-potential e-commerce markets in the MENA region, and is of significant strategic importance for PAYFORT, as it continues to gain traction across the region.



"The potential of Egypt's emerging e-commerce industry is undeniable. With nearly 40 million internet users, only nine per cent of which purchase online, the sharp increase in mobile internet accessibility and use, the manifestation of countless smart and innovative start-ups seeking to capture online customers, and the e-payment-facilitating initiatives launched by the government, Egypt has a very bright online payment future, and we at PAYFORT are working hard to help Egypt realize that potential," said Omar Soudodi, Managing Director of PAYFORT.

According to PAYFORT's The State of Payments in the Arab World report, released earlier this year, 75 percent of online transactions are carried out by people in their 30s or younger, a demographic group that makes up 65 per cent of the Egyptian population. Another telling statistic is the fact that 80 per cent of Egyptian smartphone users make mobile purchases at least once a month.


The annual Cairo ICT event is one of the MENA region's leading showcases of the region's information and communication technology (ICT) industry, with the telecom, information technology, electronics, mobile applications, integrated systems, satellite and broadcasting, hardware and software, security (information & physical), internet, and mobile services sectors all being well represented.

During the first year of its launch in the UAE, PAYFORT has processed over AED 3 billion worth of transactions, expanded its operations to Egypt and Saudi Arabia, developed a regional industry-leading 85 per cent acceptance rate, signed agreements with hundreds of the region's leading e-commerce platforms including Air Arabia, Ferrari World, and Souq.com, as well as with five of the region's leading banking institutions -- the National Bank of Abu Dhabi, Mashreq Bank, Abu Dhabi Islamic Bank, SABB, and the National Bank of Egypt.

(c) 2014 CPI Financial. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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