Get All Access for $5/mo

UAE-Headquartered Tpay Mobile Increases Its Footprint in MENAT With The Acquisition Of Turkey-Based Payguru The acquisition of Payguru, which was founded in 2015 and has been the first mobile payment company to receive a license from the financial regulator, will expand Tpay Mobile's offering of alternative payment products and financial technologies and will contribute to further growth across geographies and business lines.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Shutterstock

Tpay Mobile, a UAE-headquartered mobile payment enabler, has acquired Payguru, a Turkish payment service provider, with the transaction now contingent upon the approval of the Central Bank of the Republic of Turkey (CBRT) and the Competition Authority.

Tpay Mobile enables payments acceptance from more than 54 mobile payment channels, which are connected to over 580 million consumers in the region.

The acquisition of Payguru, which was founded in 2015 and has been the first mobile payment company to receive a license from the financial regulator, will expand Tpay Mobile's offering of alternative payment products and financial technologies and will contribute to further growth across geographies and business lines.

Sahar Salama, founder and Chief Executive Officer of Tpay Mobile, explained that this acquisition will extend the company's footprint in the MENAT region, help continue its diversification into new business lines and strengthen its value-added services proposition in the region.

The fintech sector in the MENA region is growing at a compounded annual growth rate (CAGR) of 30%, compared to 11% compounded annual growth rate (CAGR) globally, according to various research.

According to The Future of DCB published by Mobilesquared, the number of users in the Middle East is expected to grow 58% over the three years between 2020 and 2023, reaching 60 million, with revenue growing by a healthy 30%, to a total of US$800 million by 2023.

Related: How Fintech Is Transforming The Middle East, Africa and South Asia's Financial Service Industry

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.

Leadership

The Corporate Titan: Dalya Al Muthanna, President and CEO, GE Gulf

For a woman entrepreneur or as senior management at a multinational corporation, in largely male dominated industries, it's important to remember that you are opening doors for more women to achieve, and that you're setting an example for others as a female leader of commerce.

Growing a Business

Bulletproof Terms for Every Contract

These 23 must-include terms will help prevent an attack on any contract you establish.

Money & Finance

Are You in Need of a High-Risk Credit Card Processor? Here's What You Should Know.

Businesses must do their due diligence and be mindful of the cost implications when selecting their processing partner.

Growth Strategies

Five Questions Every Entrepreneurs Needs to Answer During Stagnation

By untangling your limiting beliefs and tracing down their roots, you can overcome stagnation.