Egyptian payment startup, Paymob, has announced its partnership with Holyo, a German-based provider for global branded payments to facilitate payments for millions of gamers in Egypt.
The global gaming market size in 2020 is expected to reach $159 billion in revenues with an increase of 9.3% over the preceding year; this partnership aims to contribute in accelerating growth of the gaming industry in Egypt and beyond.
At 25% y-o-y growth, the Middle East and North Africa (MENA) region is the fastest growing online gaming population in the world and will reach US$ 6 billion in revenues in 2021 as now more than 50% of smartphone users play games on their mobile devices. Until now millions of Egyptian gamers cannot enjoy the full gaming experience as they do not have the right payment method to pay for premium game features.
With this partnership, Paymob provides local means of payment to international merchants, while Holyo provides branded payments for the leading games and entertainment providers. This means that gamers can now purchase from and subscribe to top international brands using the largest local payment network in Egypt with 3 million Meeza cards, 16 million mobile wallets, and over 150,000 over the counter outlets covering all Egyptian governorates.
Related story: Paymob raises $3.5 million to accelerate expansion across Africa and GCC
The partnership between Paymob and Holyo enables millions of users in Egypt who do not have credit cards or have reservations using them online to enjoy the premium features of mobile, console and online gaming.
“The gaming industry is witnessing a great demand from the region and Paymob is proud to be part of this movement. We aim to make gamers’ experience seamless by providing safe and convenient methods of payment that suits all gamers across Egypt.” Says Alain El-Hajj Paymob’s COO. “This partnership and likes of it that has customer experience at its heart has a great positive impact on the gaming industry” Alain continued.
“We are excited to partner with Paymob and expand into the MENA region. We look forward to making it easier for millions of gamers in Egypt to pay for their hobby and enjoy premium games features.” comments Holyo’s CCO Jens Garberding.
“At Paymob we have been working on providing a practical and convenient solution for international merchants to maximize their conversion rates and open the gates to all potential opportunities” Says Shady El-Tohfa Paymob’s CCO
