TPAY MOBILE acquires Payguru
The transaction remains subject to regulatory approval but is expected to complete shortly
TPAY MOBILE has today announced that it has acquired a 100 per cent stake in Payguru, one of the Middle East’s leading payment service providers.
Payguru offers mobile payments, ATM cash payments, and bank transfer services to its merchants through its integration with three mobile network operators and eight major banks.
“TPAY MOBILE is on an accelerated growth trajectory, and the acquisition of Payguru fast-tracks our vision to become the leading digital payment platform in the Middle East and Africa, guaranteeing a best in class user experience, and offering innovative services to our partners, and further driving digital and financial inclusion in our region. This transaction extends our footprint in the region, continues our diversification into new business lines and also significantly strengthens our value-added services proposition in the region. The regional and global fintech sector is at an inflection point for growth, making this the perfect time to welcome Payguru into our fold,” Sahar Salama, founder and chief executive officer of TPAY MOBILE.
TPAY MOBILE enables payment acceptance from more than 54 mobile payment channels, which are connected to over 580 million consumers in the Middle East and Africa region.
Leveraging direct carrier billing (DCB), mobile wallet and mobile money, through a single integration, merchant partners are able to unlock access to these consumers across 24 countries. This acquisition of Payguru will expand TPAY MOBILE’s offering of alternative payment products and financial technologies and will contribute to further growth across geographies and business lines.