PaySky, the pioneer in the field of financial technology and electronic payment solutions, has begun to take serious steps towards expanding the activity of the Yalla Super App platform regionally, which is the first integrated platform of its kind for electronic payment that provides several diverse services in providing services that help financial institutions, merchants, companies and individuals in All over the world, the company announced its entry into the United Arab Emirates and Saudi Arabia and the expansion in Pakistan, after achieving great success in Egypt since its launch in 2017.
This expansion of the Yalla Super App comes within the framework of the company’s plans for continuous expansion in strategic markets that have a direct impact on the Egyptian market, especially those markets that are ready for digital transformation and financial inclusion. The platform provides its services using advanced financial technology within its strategy with a vision to popularize the electronic payment system and implement digital transformation.
Dr. Waleed Sadek, founder and CEO of PaySky, said: “The entry of Yalla Super App to the Saudi market in the first quarter of next year is our first step of expansion, which came as a result of many surveys conducted by the company to understand and analyze the needs and aspirations of individual customers. and institutions in Saudi Arabia, in order to provide a wide range of different payment solutions to facilitate financial and non-financial services for the residents of Saudi Arabia.
He added: The company has started the final preparations to launch the same services in the Kingdom of Saudi Arabia, which will be in the first quarter of next year, as coordination is being made with “a leading financial institution in this field in the Kingdom. He stressed that entering the Saudi market is a very strategic choice for the company, because it is one of the most developed markets in the field of digital financial services in the region, especially since the climate of entrepreneurship in Saudi Arabia is good in light of the ease of procedures for establishing a company and the low cost of obtaining licenses.
He pointed out that the presence of Yalla Super App in Saudi Arabia will open the way for the company to expand in other markets in the region, such as the Pakistani market, which he described as one of the largest markets receiving remittances from the UAE and Saudi Arabia. in the third quarter of 2023.
During its work in the UAE market, BaySky will launch the “Yalla Super App” platform for individuals and businesses, in partnership and cooperation with its strategic partner, “Visa”, as well as launching its card for digital financial accounts (Yalla Card), and there will be many services, including services Financial and non-financial services – as was the case in Egypt – but taking into account the needs and aspirations of the UAE market.
It is worth noting that Egyptians constitute one of the largest communities in the Emirates. Statistics indicate that their number exceeds 800,000, and that many workers there send money to their families in Egypt, which means that the presence of a company in the UAE will provide these Egyptians with the ability to send money digitally to their families easily and almost at the same time in a safe and in accordance with standards and laws, and that the transferred funds will reach To their cards in Egypt, they can cash them from any ATM or from Egypt Post branches.
It is worth noting that the Yalla Super App offers a variety of payment services in Egypt, including; Financial services, bill payments, and electronic shopping, in addition to services for institutions and merchants, including enabling them to collect payments, sell products electronically, and provide tools to pay the salaries of their employees using their cards, as well as pay suppliers through its platform, and announced in June that it had obtained the necessary licenses to launch the application in the UAE.