Egyptian Payment Startup Accept Sets Its Sights On The GCC

By Nermeen Abbas / Forbes ME


SOURCE: Forbes ME - Egyptian Payment Startup Accept Sets Its Sights On The GCC

Egyptian payment startup Accept has announced that it has extended its services to the Jordanian market in partnership with MEPS, a leading local acquirer in Jordan.

Established early 2018, Accept offers merchants payment solutions enabling them to accept various payment methods in order to help them grow their businesses. It has since expanded its operations into Jordan since May 2018.

Accept plans to further expand in the MENA region and GCC markets by the end of 2018 as it looks to offer sustainable financial and payments solutions. The startup has not yet specified exactly which countries it is looking to target first.

“We believe that by serving the gap of convenient payment methods in the region we are helping businesses reach their maximum growth potential. Many businesses fail to secure a sale due to the lack of convenience when it comes to the payment methods they support,” said Shady El Tohfa, CCO of Accept for Payments and Technology.

According to a statement to Forbes Middle East, Accept received an undisclosed amount of funding by A15 in early 2018. It has already built a customer base in Jordan including different e-commerce platforms.

“It’s an interesting market with still untapped potential for digital payments. We have a digital strategy to grow and serve new merchants in Jordan. We are also building on our existing strategy to establish partnerships that will strengthen our offering and enable more payment methods to merchants,” commented the company.

Among Accept’s prominent customers in Egypt are ValU, Tradeline, Gourmet Egypt, Excel Travel, CNE, Cairo Angels, Wellspring, Swvl, and the city of Gouna (rentals and utilities).

Accept has also built several partnerships with other payment providers such as Aman & Masary and with software houses Robusta and Bit68, as well as shopping carts like Shopify.

The e-commerce landscape is also growing rapidly in Jordan, with its first e-payment company MadfooatCom launching in 2011 to disrupt the payments sector in a country that is working to transform into a cashless economy.