PayTabs offers services without charge to SMEs for three months starting October

Small businesses are getting access to EFG Hermes’ online payment platform PayTabsEgypt’s gateway services for three months at no charge, according to a statement (pdf). This option will be available for businesses that process EGP 100k per month in online transactions. The PayTabs gateway allows businesses to integrate cash flows from various sources on a single platform and is a joint venture between global payment solutions provider PayTabs and EFG Hermes.

Background: EFG set up PayTabs Egypt in April in its bid to expand its range of non-financial banking services, which it hopes will account for 50% of its profits by the end of 2021. EFG also offers a number of consumer finance products (ValU), e-payments (PayTabs), and microfinance (Tanmeyah), as well as other services including leasing and factoring.