Services

Egyptian Firm, CreditGo, Introduces a New Payment Platform for Small Businesses

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Gradually, digital payment is taking over almost all other payment means. In the wake of the coronavirus pandemic, many innovators launched several digital payment solutions to allows customers to make payment remotely.

Now, CreditGo has announced a new Business-to-Business payment channel and merchant wallet for small startups.

The platform allows unbanked merchants to make payments, pay bills, and sell electronic services such as airtime.

CreditGo came to life in January 2020. However, the startup didn’t go public until June 2020. The payment interface aims to allow merchants conquer the challenges of PoS machine acquisition cost.

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CreditGo offers its customers swift and secure electronic services through a free mobile application.

The CreditGo payment app allows merchants to earn commissions on airtime sales, and it also facilitates customer’s bill payments.

According to the firm, merchants will be able to buy products from wholesalers using their CreditGo wallet in the coming weeks.

‘’We took a huge advantage of the market segment that is left behind from the banking system and financial institutions,’’ said Omar El Welely, CEO of CreditGo.

‘’The unbanked sector in Egypt and the informal economy makes 45% of Egypt’s economy. We are talking about an annual market of US$73 billion.’’

‘’We are in talks with VCs and angel investors from within and outside Egypt. We have plans to expand to similar African markets in the future,’’ Omar concluded.

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