PayMint CEO Mohamed Rabie: 250,000 Transactions Worth EGP 3 Billion Processed in the Past Year
Mohamed Rabie, Founder and CEO of PayMint, a leading Egyptian fintech company providing digital payment solutions for small and medium-sized enterprises (SMEs), revealed that the company processed 250,000 transactions valued at EGP 3 billion over the past year.
Rabie highlighted during his keynote at the Banks and Fintech Summit held today at The GrEEK Campus in Cairo that both the Egyptian and African markets represent vast opportunities for growth. “Egypt alone has over 3 million companies, with about 97% classified as SMEs, while Africa as a whole is home to around 66 million enterprises,” he noted.
Addressing Major Challenges for SMEs
Rabie emphasized that SMEs continue to face significant challenges in accessing banking and financial services due to high costs, strict documentation requirements, and insufficient capital. “Small businesses need essential financial services such as salary disbursement and supplier payments, but these are often hard to access through traditional banks,” he explained.
Integrated Financial Solutions with PayMint
Founded in 2019, PayMint has developed an integrated platform that offers comprehensive financial solutions for startups and SMEs. These include salary and supplier payments, as well as tailored lending services for both businesses and employees—helping companies achieve financial stability and enhance employee retention.
“At the outset, we focused on solving one of the most critical pain points for SMEs: salary payments. Today, our solutions have evolved into a complete financial ecosystem,” Rabie said.
Strategic Partnership with ADIB Egypt
Rabie also announced a strategic partnership between PayMint and Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) to introduce advanced financial solutions that enable real-time salary transfers, advances, and other payments 24/7, including weekends and public holidays—providing employers with greater flexibility in managing cash flow.
Licensed and Backed by Major Egyptian Banks
PayMint is fully licensed by the Central Bank of Egypt (CBE) and operates through partnerships with major local banks. The company employs robust security systems to safeguard customer data. Rabie credited much of PayMint’s success to his leadership team, including Mohamed Yehia, both of whom bring extensive experience from the National Bank of Egypt.
Strong Financial Performance in 2024
During the past fiscal year, PayMint served over 150 corporate clients, processed 250,000 transactions worth EGP 3 billion, and extended nearly USD 500,000 (EGP 25 million) in financing. The company also recorded revenues of EGP 25 million in the same period.
Transparent and Scalable Business Model
Rabie underlined that PayMint’s business model is based on simplicity and transparency. The company charges an average monthly subscription of EGP 500, along with a transaction fee of EGP 10–15 and a 3–5% margin on loans provided to SMEs.
Expansion Plans Across Africa
Looking ahead, Rabie said that PayMint aims to expand across Africa by the end of 2025, starting with operations in Johannesburg, South Africa. The company plans to continue developing innovative financial products designed to empower SMEs and advance financial inclusion across the continent.