Egypt is heavily focused towards transforming its Digital Landscape, by incorporating Technological Innovations and Promoting E-commerce, at large. By promoting more E-commerce startups, the country is also focused on the Fintech sector, and its associated growth, as it directly translates towards a healthy E-commerce outlook, supporting more Payment Gateway Solutions, enabling Global Transactions. Egypt plans on integrating Payment Gateway Solutions with E-commerce Merchants, to help them connect with Global Suppliers, helping with cross-border transactions, with ease.
Importance of Payment Gateways in Egypt
The Coronavirus Pandemic caused a great deal of distress for people all across the Globe. If we talk about businesses, the resulting restrictions of the pandemic caused many businesses to shut down, while most capitalized and shifted towards online method of shopping. Like other people all across the Globe, consumers and individuals, in Egypt, were also accustomed to the retail shopping experience, instead of online shopping, especially when it came to Grocery Shopping. Similarly, their main method of shopping was through cash or cash-based transactions. Online Payments and its adaption was not significant in Egypt.
The shift towards online shopping, post Covid-19, forced the customers to get familiar and, at the same time, accustomed to online payment gateways, and resound to popular payment gateway solutions in Egypt. Today, it has witnessed notable growth in the adaption of Payment Gateway Solutions by the citizens of the Egypt country.
What are the Best Payment Gateway Solutions in Egypt?
Individuals across Egypt are frequently using Online Payment Gateways for Transacting, mostly in the E-commerce Landscape. What’s more interesting is that E-commerce merchants are encouraging the use of Payment Gateway Solutions in the country.
Payment gateway solutions provide ease of transacting, while ensuring security to both, merchants, and customers, with an easy-to-use mechanism, allowing transactions to be processed locally and globally, within a matter of seconds.
Government of Egypt is trying to promote its Fintech Sector, by encouraging more Payment Gateway Solutions to expand their services in the country, making wide number of options being available in the future.
Having said that, if you were looking to transact through Payment Gateway Solutions, here are the best available options in Egypt:
1. Amazon Payment Services (APS) – APS is, perhaps, the most widely used and popular Payment Gateway Solution in Egypt, simply because of how flexible and robust it is. APS is a highly reliable Online Payment Gateway Solution, extending its services in Egypt, providing SMEs, E-commerce Merchants, Enterprises, Online Shoppers, and even the Government, with innovative payment options. With no associated startup fees for entry-level packages, Amazon Payment Service Gateway is recognized as one of the most credible and seamless Payment Solution in the country.
APS is, undoubtedly, the best option for large-scale merchants, as the Payment Gateway Solution offers custom packages, based on transactional volume (per month), making it ideal for Up-scaled E-commerce Merchants.
The Payment Gateway Solution is fostering cashless environment across Egypt, providing users with a Digital Wallet Option, when transacting through Single Click via Mastercard or VISA Checkout. Additionally, APS data analysis algorithms allow for business growth tracking, in real time, making it the most ideal option for most medium to large-scale businesses, and even ambitious startups, making it a popular choice of Payment Gateway Solution in Egypt.
2. PayMob – PayMob is considered to be one of the most convenient Payment Gateway Solution in Egypt. PayMob is easily integrated across all online platforms like BigCommerce, making the service highly reliable. Setting up a wide range of local and international payment options is quite easy with PayMob. PayMob offers flexibility and customizability like no other Payment Gateway Solution. Be it credit or debit cards, digital wallets, COD (Cash On Delivery), loyalty points redemption, and payment links, PayMob will get you covered, by offering revenue-maximizing payment solutions for its customers. Moreover, you ca even transact kiosk payments through Aman and Misr, using PayMob.
PayMob is a Multi-channel payment gateway solution that easily integrates with your platform’s existing settings. Through iFrames and Natural Form, customers can also safeguard their credit card details with ease, and transacting any time they want, making the payment gateway solution a widely used option in Egypt.
3. Fawry – This is another big name in Egypt, when it comes to the best payment gateway solutions, in the Egypt. Fawry Pay is a robust payment gateway solution in Egypt, providing financial businesses and consumers, across more than 90,000 locations. Fawry’s consumers includes SMEs and Enterprises, ranging from Online Grocery Businesses, Pharmacies, and even Post Offices, being equipped with POS (Point of Sales) machines. Fawry’s payment plans are also flexible, with additional transaction cost, ranging up to 2.75%. What’s good about the Payment Gateway Solution provider is that it offers an array of services, ranging from Bill Payments to Mobile Banking services.
4. OPay – Winning the award for the best new Point of Sale Payment Service Provider of 2021, from the Global Economics, this new Payment Gateway Solution Provider is turning out to be one of the leading one-stop platform for payment and collection services across Egypt. OPay has been the fastest growing Payment Gateway Solution Service in the Egyptian Market, by offering innovative digital payment solutions. The Payment Gateway Solution itself is a CBN licensed mobile money platform, offering instant transaction settlement, without waiting for end-of-day reconciliation. OPay also offers a strong Dashboard for valuable Business Insights and tracking, understanding your transactions over the course of time, to better depict business needs. The Payment Gateway Solution service is a one-window solution for all transactional needs of merchants, with a fruitful future outlook. OPay will offer you robust transactional mechanism and a secure platform to conduct all your monetary transactions through digital channel, with ease, trust, seamlessness, and reliability.
5. 2CHECKOUT – Another quite popular and heavily acclaimed Global Payment Gateway Solution, widely opted for, across Egypt. 2CheckOut has an expanded reach of E-merchants, being available in 211 countries, all across the Globe. Providing full-fledge PCI Compliance, the payment gateway solution supports up to 87 currencies, with support of 15 different languages. The service also provides ‘Ultimate Fraud Detection,’ accommodating Address Verification, backed up 300+ CVV and rule checks. The additional transaction charges are slightly higher, given the payment gateway solution’s global reach, translating to roughly 4% (3.9 to be exact), + 45 cents on every transaction. Moreover, the service also offers integration with more than 100 shopping carts, having you fully covered.
Based on our discussion of the best payment gateway solutions in Egypt, we are also enlisting some honorary mentions that are also popular in the region, offering innovative payment solutions for the citizens and merchants of Egypt:
1. Vapulus – Vapulus is an Egyptian online payment company, established back in 2016, with the premise of building and promoting a financially inclusive society, backed by technology, being accessible to everyone. The Payment Gateway Solution acts as an intermediary between the merchant and the end-user or customer, offering versatile payment services. Vapulus is also supported via mobile application, allowing users to transact, simply through the application. Companies can opt for Vapulus, with ease. Even individual sellers without a storefront can use the service via out-of-store checkout page, for customers to use and transact. Additionally, the mPOS (Mobile Point of Sale) system also provides detailed reports to merchants, covering various dynamics, for predictive analysis. Vapulus is also able to integrate with merchant’s regular Point of Sale machines directly, allowing merchants to promote the service by offering discounts and loyalty points or cards.
2. PayPal Egypt – The American Payment Gateway Solution giant also offers its services in Egypt, allowing for robust and seamless monetary transactions. PayPal has allowed Egyptian Merchants to accept online payments from 203 different countries, all across the Globe. Additionally, PayPal has also allowed Egyptian merchants to sell their products worldwide, while transacting through PayPal, by withdrawing money from the Payment Gateway Solution, to any local VISA card. Further, there are many brands who deliver products to Egypt use Paypal as a payment method i.e. Joigifts coupon code and many others. All of the other benefits of PayPal comes along, including strong security protocols, standardized rates, seamless integration with E-commerce platforms, rich plugin support, and many others.
3. PayTabs – PayTabs is also quite popular in the Egyptian Market, acting as a complete payment gateway solution service and easy toolkit for developers. PayTabs allows international transactions and receiving of monetary transactions, through all major and leading cards, across the globe. This Payment Gateway Solution service is quite convenient, offering a simple and seamless solution for merchants and customers to deal with recurring payments. With features like QR Bill Payments, integration with social media platforms, PayTabs is one of the more innovative payment gateway solution service in Egypt.
Egypt is heavily promoting its Fintech sector, by opening doors for more Payment Gateway Solution Startups to start operating in the country. The country is also allowing more international giants of Digital Payment Sector to allow sending and receiving of payments across Egypt.