Egypt’s PayTabs Unveils Social Commerce Platform Paymes
PayTabs launched a platform that allows customers to order on social media and make payments.
In a new release on Thursday, 12 May, the company stated that they would allow citizens with jobs in the gig economy to get payments via social media.
The Paymes app enables Egyptian micro merchants to set up a secure online storefront. They can share the link with their social media contacts, who can then make purchases.
PayTabs is currently operating in Egypt, but hopes to expand its business to Saudi Arabia and the UAE.
The Gig Economy is growing at break-neck speed in the MENA region– with micro merchants catering to everything from designing and consulting to tailoring and painting.
Visa research indicates that half of merchants in Egypt see digital payments as essential for business recovery.
PayTabs said that Egypt has at least 14 million gig workers, who can benefit from being a part of the digital payment ecosystem.
See what PayTabs is doing to improve the lives of gig workers
Financial pressure exists for gig workers, who are a small portion of the workforce. 15% have enough savings to cover an emergency, 29% have taken out a payday loan in the past year.
Grubhub is introducing instant payouts that will help their workers deal with the challenges of the job.
When you want to receive your funds immediately, Bavda suggests Instant Cash Out. This feature includes the Real-Time Payments network, created by The Clearing House. When you use this network, you can get your money within minutes.