Paymob, a financial services enabler in the Middle East, North Africa and Pakistan (MENAP) and Shahid, the world’s leading Arabic streaming platform by MBC GROUP, announce their signing of a new partnership agreement.
The partnership enables Shahid customers in Egypt to pay for their subscriptions via electronic wallets processed via Paymob’s infrastructure. This landmark agreement marks an industry-first in Egypt.
With this partnership, Shahid – which previously only accepted credit card payments in Egypt – becomes the first and only subscription video on demand (SVOD) service in the market to offer its subscribers e-wallet payment options. This API integration will enable Shahid subscribers to pay subscription fees securely with any local e-wallet. With an estimated 25 million e-wallet users in Egypt, the partnership with Paymob will expand Shahid’s potential customer base significantly.
Gillan Shaaban, Chief Commercial Officer at Paymob commented: “We are proud to be the first payments gateway to power e-wallet payments for VOD subscriptions in Egypt. Our technology enables Shahid to lead the way in the industry, making SVOD more accessible to millions of people by expanding digital payments acceptance methods. This is a great milestone, and we are thrilled that Shahid trusted Paymob to bring it to fruition.”
E-wallets have rapidly gained consumer adoption due to their ease of use, convenience, and added security. They offer consumers fast, easy, and seamless customer experiences expected in the digital age. In Egypt, Paymob processes 87% of e-wallet transaction volumes and enables millions of e-wallet users on its infrastructure railways. Paymob is committed to serving as a trusted growth partner to businesses across MENAP by making the best-in-class technologies readily available to the 170,000 businesses in its growing network.
Natasha Matos-Hemingway, Chief Commercial and Marketing Officer (CCMO) at Shahid, added: “We are thrilled to announce our latest partnership with Paymob, through which VF Cash will be the exclusive telco wallet for Shahid. This latest agreement is a testament to our commitment to providing innovative and accessible payment solutions to our customers, and with Paymob’s expertise, we are confident that this partnership will enable us to provide more convenient and secure subscription options for Shahid.”
Part of MBC GROUP, the largest and leading media company in the Middle East and North Africa (MENA), Shahid offers premium content, including Shahid Original series, Shahid Premieres, the latest Arabic movies, live TV channels in true HD quality, and much more.