PayMint, Egypt’s Commodities Exchange team up to develop internal financial payment system

PayMint, Egypt’s Commodities Exchange team up to develop internal financial payment system

PayMint leverages innovative solutions to improve infrastructure of the internal trade system and support the government’s vision to safeguard small farmers and producers.

This entails setting up a state-of-the-art e-platform that provides and categorises commodities via an organised market to boost the competitiveness of small farmers and producers. The protocol reflects expansion-focused plans of both PayMint and EMX and the growing role of start-ups in the Egyptian economy.

The protocol marks a new milestone for PayMint, which has become a key mainstay of the Egyptian e-payment sector. PayMint offers a bundle of cutting-edge services for small- and medium-sized enterprises (SMEs), especially salary payments, working capital financing, and supplier payments. In April 2022, PayMint secured a seven-div seed funding round from the AUR Fintech Fund of AUR Capital Group.

Mohamed Rabie — Managing Director of PayMint — said: “We are pleased to succeed in completing this partnership with EMX. It promotes integration and closer cooperation between big entities, through which the state works to regulate the markets, and start-ups seeking to sustain development and digitisation by providing innovative e-payment tools for stakeholders of the EMX.”

“We are working towards creating an innovative platform for the EMX in alignment with up-to-date global systems in this field