Paymob lands in Pakistan: High-profile Egyptian fintech startup Paymob has officially launched in Pakistan, it announced in a press release (pdf) yesterday. The digital payments provider said it will launch a number of payment services in the country, including payment gateways, POS, SoftPOS, and contactless payments.

Why Pakistan? Paymob said that Pakistan is “perfectly suited” to the company’s strategy due to the low rate of fintech penetration and the country’s high population. Home to more than 220 mn people and more than 4 mn SMEs, there are only 80k POS terminals and less than 3k ecommerce gateways in the South Asian country. Pakistan’s economy is also expected to see strong growth, as is the value of the country’s e-commerce sector, which increased 83% last year to USD 3.9 bn.

Paymob’s entry to Pakistan is also getting mentions in the foreign press: Bloomberg | The National.

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