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Paysky

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Paysky
Company typePrivate
IndustryDigital Payments, Fintech
FoundedApril 2017
FounderWaleed Sadek
HeadquartersCairo, Egypt
Area served
Egypt, UAE, Saudi Arabia, Pakistan, Libya, Sudan, Uganda, Botswana, Ghana, Ivory Coast, Senegal, Mali, Benin, Togo, Cameroon
ServicesDigital payment solutions, payment gateways, financial services, mobile apps
Number of employees
200+
Websitewww.Paysky.com

Paysky is an Egyptian bank that also provides digital payment technologies for businesses, governments, and individuals across the Middle East, Africa, and Asia.[1]

History

[edit]

Paysky was established by Waleed Sadek in Cairo, Egypt, in 2017.[2][3] In 2019, Paysky launched the National Payment Gateway in collaboration with the Central Bank of Egypt, enabling e-commerce transactions, QR code payments, and POS acceptance.[4] The company also partnered with Visa[5] and MasterCard to introduce new digital payment technology in Egypt.

In 2020, Paysky expanded regionally by launching the Libyan National Payment Gateway with Moamalat, the Central Bank of Libya.[6]

In 2021, it launched the National Payment Gateway in Libya, allowing local banks and businesses to accept payments through online platforms and POS systems.[7]

In 2022, the company introduced the Yalla Super App, the first fully-fledged digital financial services platform in the Middle East and Africa, in partnership with Visa.[8] The app offers a range of services, including money transfers, online payments, transportation bookings, and daily needs ordering.[9][10]

In 2023, Yalla Super App achieved over 3 million downloads in Egypt and processing more than 13 million transactions totaling 12 billion EGP in transactions during its first year. Paysky also partnered with MTN to develop a digital commerce platform, reaching 2 million merchants across 16 African markets. The platform integrated MTN’s internal systems, local delivery services, and global digital payment solutions, generating over $1 billion in additional revenue within the first year.[11][12][13][14]

In February 2023, Yalla Super App partnered with Dahab Masr to introduce "Yalla Invest," enabling users to invest in gold starting from 0.25 grams through the app.[15] In August, GIM-UEMOA partnered with Paysky to develop GIMpay across eight West African countries.[16][17]

In 2024, Paysky developed a regional payment gateway for GIM UEMOA, covering eight West African nations.[18] The company was also featured in Forbes Middle East’s Fintech 50 in 2024 and 2025.[19][20][21]

In February 2025, Paysky partnered with MTN Group Fintech to launch "Market by MoMo," an e-commerce platform in Uganda.[22][23][24] In March 2025, it partnered with MTN Group and FinCommerce to enhance e-commerce in Africa by improving mobile payment technologies.[25]

References

[edit]
  1. ^ "INTERVIEW - Egypt has made significant leaps towards digital transformation: PaySky's CEO - Tech - Business". Ahram Online. Retrieved 2025-05-29.
  2. ^ "Meet our founder of the week: Waleed Sadek, founder and CEO of PaySky". Enterprise. Retrieved 2025-05-29.
  3. ^ "The Lineup Unfolds with 22 Speakers (Confirmed So Far) Not To Miss at RiseUp Summit 2019". SecneNow. Retrieved 2025-05-29.
  4. ^ Egypt, Daily News (2019-11-17). "Egypt's Fawry, PaySky win Citi MENA Fintech Challenge". Dailynewsegypt. Retrieved 2025-05-29.
  5. ^ "https://partner.visa.com/site/error/403.html". partner.visa.com. Retrieved 2025-05-29. {{cite web}}: External link in |title= (help)
  6. ^ "Paysky: Leading the future of digital payments in MEA". Arab News. 2024-11-12. Retrieved 2025-05-29.
  7. ^ Ayoub, Karine (2025-02-20). "Paysky: Leading the Future of Digital Payments in MEA". Executive Bulletin. Retrieved 2025-05-29.
  8. ^ East, Forbes Middle. "19 Newcomers Join Forbes Middle East's Top 50 Most-Funded Startups 2022". Forbes ME. Retrieved 2025-05-29.
  9. ^ "PaySky launches yalla card and new app in the UAE". IBS Intelligence. Retrieved 2025-05-29.
  10. ^ Allam, Nouran (2022-10-19). "PaySky is expanding its Yalla Super App to the UAE and Saudi Arabia". WAYA. Retrieved 2025-05-29.
  11. ^ "Paysky: Leading the future of digital payments in MEA". Arab News. Retrieved 2025-05-29.
  12. ^ Zein, Marwa (2024-01-10). "PaySky, Yalla Super App win two Global Business Outlook 2023 awards". Csr Egypt. Retrieved 2025-05-29.
  13. ^ "Yalla Super App launches financial services in UAE, Saudi Arabia, Pakistan". english.mubasher.info. 2022-10-18. Retrieved 2025-05-29.
  14. ^ "Egyptian fintech startup Yalla to expand into Saudi Arabia". Techloy. 2023-09-12. Retrieved 2025-05-29.
  15. ^ Sow, Dominic (2025-02-28). "Paysky Partners With MTN Group Fincommerce to Revolutionize E-commerce inAfrica". FF News | Fintech Finance. Retrieved 2025-05-29.
  16. ^ "GIM-UEMOA s'associe à PaySky, pour révolutionner les services financiers en Afrique de l'Ouest. | GIM-UEMOA". www.gim-uemoa.org. Retrieved 2025-05-29.
  17. ^ Release, Press. "GIM-UEMOA partners with PaySky". www.zawya.com. Retrieved 2025-05-29.
  18. ^ "GIM-UEMOA and PaySky partner to bolster fintech in West Africa". Techpressionmedia. Techpressionmedia. August 2023. Retrieved 28 May 2025.
  19. ^ "PaySky recognized in Forbes Middle East's Top 50 Fintech Companies for the third consecutive year". Zawya. Refinitiv. 17 March 2025. Retrieved 28 May 2025.
  20. ^ Mughal, Waqar. "Paysky". Forbes Lists. Retrieved 2025-05-29.
  21. ^ Waqar, Muhammad. "Paysky". Forbes Lists. Retrieved 2025-05-29.
  22. ^ Sow, Dominic (2025-02-28). "Paysky Partners With MTN Group Fincommerce to Revolutionize E-commerce inAfrica". FF News | Fintech Finance. Retrieved 2025-05-29.
  23. ^ "Paysky Partners with MTN Group Fincommerce to Revolutionize E-commerce in Africa - Market Mirror". 2025-02-26. Retrieved 2025-05-29.
  24. ^ Ayoub, Karine (2025-02-26). "Paysky Partners with MTN Group Fincommerce to Revolutionize E-commerce in Africa". Executive Bulletin. Retrieved 2025-05-29.
  25. ^ "PaySky partners with MTN Group Fincommerce to revolutionize e-commerce in Africa". Fox2Now. EIN Presswire. 3 August 2023. Retrieved 28 May 2025.
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