Cairo, Egypt – 22 November 2022: Foodics, the leading restaurant management solution in MENA and Paymob, the leading financial services enabler in the MENAP region, announced today that they have signed a partnership agreement in cooperation with Banque Misr, as the acquiring bank, to empower the food and beverage sector in Egypt to thrive in the digital economy, in line with the country’s Vision 2030.
The partnership will integrate Foodics’ restaurant management system (RMS) with Paymob’s point of sale (POS) devices, creating a seamless end-to-end solution for restaurant operators and their customers. This is the first of its kind backend wireless API integration for Egypt’s F&B sector. The collaboration will enable Foodics restaurants to expand their acceptance of all types of card payments using Paymob’s POS devices. The integration also addresses two major pain points for restaurants by automating reconciliation and checkout processes to deliver faster order processing and error-free, frictionless checkout experiences.
Belal Zahran, Country Manager, Egypt, at Foodics commented, “Tech enablement and the digital economy are critical factors for the acceleration of the F&B industry’s growth. By bringing Foodics and Paymob together, two regional technology powerhouses, this will serve to modernize the F&B sector in Egypt and advance the shift to cashless payments, fueling both growth and digital transformation.”
Foodics is a pioneer in restaurant management solutions for regional F&Bs, making it one of the most promising SaaS companies to emerge from the MENA region. The company’s mission is to empower restaurant and merchant owners with a comprehensive cloud-based POS system to enrich their operations. FOODICS caters to every segment of the F&B sector from traditional dine-in restaurants, cafés, quick service restaurants, bakeries, food trucks through to cloud kitchens and non-food micro-retailers.
A key feature of the integration with Foodics, is Paymob‘s real-time payments dashboard that gives restaurant operators visibility over their financial data. This offering streamlines payment operations and enables restaurants to manage and grow their businesses. There are currently hundreds of thousands of restaurants in Egypt, the majority of which are homegrown.
“Our partnership with Foodics creates an innovative ecosystem that serves to drive growth of the F&B market in Egypt. By integrating our products into one bundled solution, we play a central role in empowering restaurant operators across the country to increase efficiency and accelerate their adoption of digital payments acceptance while ultimately growing their sales volumes,” commented Gillan Shaaban, CCO of Paymob.
Paymob is the most comprehensive payments infrastructure in MENAP offering over 40 online and in-store digital payment acceptance methods. In Egypt, Paymob holds 87% market share of mobile wallet processed volumes and enables 18 million users on its infrastructure railways. Paymob is committed to making the process of growing any size business in the digital economy simple, seamless and agile, while delivering best-in-class products and frictionless customer experiences to over 150,000 merchants in its network.
FOODICS is the leading Restaurant and Payment Tech company in MENA, with an innovative 360° SaaS ecosystem making it a pioneer in the regional F&B industry. Formally licensed as a Fintech company by the Saudi Central Bank (SAMA), the company’s vision is to build a complete restaurant management ecosystem that enables owners to run their operations seamlessly and grow their business. Its mission is to empower restaurant and merchant owners with a comprehensive cloud-based POS system to enrich their operations. FOODICS caters to every segment of the F&B sector from traditional dine-in restaurants, cafés, quick service restaurants, bakeries, food trucks through to cloud kitchens and non-food micro-retailers. Since its inception in 2014, it has successfully processed over 6 billion orders through the platform and raised a record USD170 mil in Series C round, making it one of the most promising SaaS companies to emerge from the MENA region.
For more information, please visit www.foodics.com
Paymob is the leading financial services enabler in the Middle East, North Africa and Pakistan (MENAP), delivering the latest financial technologies to customers in the region. Its omnichannel gateway offers more than 40 payment methods and empowers over 150,000 SME merchants to manage and scale their businesses by giving them access to financial services not readily available in emerging markets. Headquartered in Cairo, Egypt, Paymob is the largest payments facilitator in North Africa and employs 1,100 team members across MENAP. The company launched operations in Pakistan in 2021. Paymob was founded in 2015 by Islam Shawky, Alain El Hajj, and Mostafa Menessy.
For more information, please visit www.paymob.com