TPAY, the leading mobile payment provider in the Middle East and North Africa region and one of the A15 companies, has acquired 100% of Direct Carrier Billing Egypt (DCBEgypt), Egypt’s second-largest mobile payment service provider.
TPAY is one of the first financial technology companies in the field of electronic payment service via mobile, which is one of the fastest and most used means of payment of bills for digital products and mobile services, in addition to the linkage between consumers and enterprises and mobile companies.
Since its establishment in January 2014, Tpay has operated more than 3 billion transactions across the region.
“The acquisition is in line with the company’s strategy and ambition to expand to serve more partners and to quickly realize the company’s future plan,” said Sahar Salama, TPay’s CEO.
Founded in October 2014, DCBEgypt offers online payment service for two of the major mobile operators in Egypt. “We share TPAY’s vision and strategic plans, and we are confident that TPay’s management will continue to expand and grow,” said Mustafa Al Shafei, CEO of DCBEgypt.
Nevertheless, the CEO of A15 Fadi Antaki, said that even though the TPay’s time in the market may be classified as an emerging company, its revenue has been set to be one of the largest companies in its field, explaining that TPay took only three years to grow from a start-up company. Technology to a strong and rapidly expanding company to cover the entire Gulf region and North Africa.
“To further this expansion, TPay has acquired the second largest Egyptian online payment company to become the number one mobile payment provider in the region,” said Antaki.
TPAY is currently present in more than 13 countries in the Middle East and North Africa region and by acquiring DCBEgypt, it will provide regional services to DCBEgypt customers and enable their presence inside and outside Egypt.
TPAY is currently present in more than 13 countries in the Middle East and North Africa region and by acquiring DCBEgypt, it will provide regional services to DCBEgypt customers and enable their presence inside and outside Egypt.
The Middle East has seen tremendous growth in the field of financial technology, making it one of the top fastest growing fields in the Middle East and one of the top sectors to attract investments in 2017. Over the past 10 years, emerging financial technology companies in the region have attracted investments worth more than $100m, while there are reports that the number of these start-ups and investments will more than double by 2020.
