Today, PAYFORT, an Amazon company, has announced the launch of the #StartUpStayUp initiative which aims at supporting start-ups and small-to-medium sized businesses (SMB) across the UAE, Egypt, and Saudi Arabia.
The Fintech company has invited more than 100 of its startup and SMB merchant partners to benefit from the initiative which aims to support them in increasing traffic to their online sites and boosting their revenues. PAYFORT will fund a three-month digital marketing campaign worth one million dirhams across multiple media channels, including organic, paid and influencer social campaigns, video content production, email marketing campaigns, and internal marketing promotions. The #StartUpStayUp initiative will also provide all participating merchant partners with increased brand exposure through being featured on PAYFORT’s digital channels.
In addition to this awareness campaign, PAYFORT will be waiving the maintenance fee for all startup and SMBs. The initiative targets startups from more than ten categories including, grocery, food & beverage, home services, fashion, beauty, entertainment, health & fitness, automotive, and e-learning. The campaign has been launched in the UAE and will roll out in Egypt and Saudi Arabia.
“PAYFORT has always strived to be helpful and provide immediate value to small businesses by supporting their payment processes online,” said Omar Soudodi, Managing Director of PAYFORT. “The PAYFORT team understands that this is a critical time for many startups and SMBs. With #StartUpStayUp, we aim to help as many businesses as we can to accept payments online quickly and improve cash flow.”
PAYFORT has also joined forces with leading banks in the region to promote the campaign to their customers through targeted announcements. Including Emirates NBD Bank in the UAE, Commercial International Bank (CIB) in Egypt, and The Saudi British Bank (SABB) in Saudi Arabia, the goal of this integrated approach will be to reach more than 5 million people.
“As a leading UAE bank, we remain deeply committed to supporting start-ups and small businesses, who are vital contributors to the economy.” Suvo Sarkar, Senior Executive Vice President & Group Head – Retail Banking and Wealth Management, Emirates NBD said. “We are pleased to partner with PAYFORT in this initiative that will also provide our customers with attractive offers and benefits, providing enhanced value and convenience especially during this time.”
Mr. Khalid Almuammar, GM Mid-Market and SME, SABB said: "We’re delighted to partner with PAYFORT in its StartUpStayUp Initiative to support Saudi startups who are facing unprecedented challenges due to the pandemic. The impacts have resulted in widespread layoffs, in addition to companies shifting their strategy or pivoting their offering to continue. We aim to help new businesses to get off to a good start and contribute to a more diverse and sustainable economy.”
Rashwan Hammady, Head of Retail Segment and Product, CIB said: "Startups need support now more than ever; we are delighted to collaborate with a leading Payments Service Provider such as PAYFORT in its StartUpStayup initiative to lead the startups towards operational continuity and economic sustainability during these hard times. This partnership emerged from our belief in the significance of our role to bolster the entrepreneurial ecosystem, in addition to, providing value to our customers with deals and offers from their favorite brands and startups."
An encouraging 33 startup deals took place in May 2020, which was an increase of 93% compared to April. This was largely driven by the Misk500 MENA Accelerator, which graduated its third batch of startups. Discover more details in our May 2020 Dashboard Report.