PayTabs partners with mnGm to initiate card acceptance for gold purchases online in Egypt

Daily News Egypt
4 Min Read

PayTabs Egypt, MEASA’s payments powerhouse, announced today a strategic partnership with mnGm, a digital platform that acts as the digital distributor for Gold Net Trading (GNT), which is a subsidiary of Evolve Investment Holding as well as its trading arm. This collaboration marks a significant milestone in the Egyptian market, as it introduces card acceptance for gold purchases online for the very first time in the country. The partnership will provide customers and investors with access to investment-grade gold through PayTabs Egypt’s secure, seamless, and regulated payment channels. 

Commenting on the partnership is PayTabs Egypt’s General Manager, Karim Eyada, “We are pleased to join forces with mnGm, a pioneer in the precious metals industry. PayTabs Egypt has always been at the forefront of innovation in the payments sector, and this partnership is a testament to our commitment to enhancing financial accessibility for multiple industries. As a company deeply rooted in the MENA region, we recognize the importance of gold as a traditional and trusted form of investment. We believe that enabling card acceptance for gold trading will be a game-changer for the Egyptian market, offering a convenient and secure way for investors to engage in this time-honored form of investment, ultimately empowering more people to diversify their portfolios and safeguard their financial futures.”

Mina William, PayTabs Egypt’s Country Business Development Manager, added: “We are pleased to cooperate with mnGm, one of the largest precious metals trading companies in Egypt. This partnership will enhance the payment acceptance experience through advanced technology options for mnGm customers in a secure, seamless, and transparent way while supporting PayTabs Egypt’s plans to expand its scope across all industry segments.”

Apart from card usage to purchase gold directly from GNT, card payments will also be available on mnGm, enabling customers to sell, store, and request delivery of 999.9 (24k) gold securely and transparently through the click of a button. Through mnGm, clients can accumulate their gold holdings with minimum purchases of 0.1 grams or buy physical gold with minimum purchases of 8 grams (Gold Coin 24K).

Sameh El Torgoman, Chairperson and CEO of Evolve Investment Holding, commented: “Our mission at mnGm is to make gold accessible, ultimately unlocking wealth and creating added value for all Egyptians, and partnering with PayTabs Egypt is a significant step in that direction. Introducing card payments to purchase precious metals will simplify the overall process and experience for investors while maintaining the highest standards of transparency and regulation.”

Mohamed Amer, Evolve Investment Holding’s CTO, added: “We are excited to partner with PayTabs Egypt, a leader in the payment industry, to revolutionize the gold trading landscape in Egypt. Combining our innovative approach to precious metal investment with PayTabs Egypt’s expertise in secure and efficient payment solutions will provide Egyptian customers with a seamless and trustworthy avenue to trade gold.”

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