The Claps
Egyptian startup Paymob officially expanded to Pakistan.
More on paymob
Founded in 2015, paymob provides electronic payment to online and offline merchants with solutions to accept payments. They offer POS and payment gateways to make the process easier.
The Deets
Pakistan, the fifth largest country in the world by population, has a low rate of fintech penetration, according to Paymob. The country only has 80k POS and 3k payment gateways, it represents a good opportunity for the startup to capture a significant market share.
Claps Class
Payment gateway is a technology that serves the process of holding and transferring the customer data in a secure way from the point of sale or the merchant store to the payment card processor.
Why this matters
Although Paymob has a presence in Kenya, Jordan and palestine. This represents the first physical office for Paymob internationally. The startup plans to hire 350 employees this year, & reach 500 by 2023.
