Egyptian fintech startup Vapulus launches new zero-fee online payment portal

STARTUP WATCH- Vapulus launches the world’s first zero-fee online payment portal: Egyptian fintech startup Vapulus has launched the commercial operations of the world’s first zero-fee online payment portal, according to an emailed statement (pdf). More than 450 MENA companies and e-commerce platforms have used the platform since the pilot was launched almost a year ago. The company is planning to compete regionally for the next three years before starting a drive into global markets. The new zero-fee payments represent a shift from the traditional fee-based business model, which CEO Abdelrahman Elsharawy predicts will become obsolete in the future.