Cellum enters a new region, following its ongoing expansion in Asia, and takes part in developing the cashless economy in the Middle East and North Africa, by starting with Egypt.
Access to traditional banking services is quite limited in the region, with less than 10% of Egypt’s population having a bank account. Although ecommerce is enjoying dynamic growth in Egypt, 80% of such purchases are still paid for with cash on delivery. On the other hand, almost everyone in the country has a mobile phone, two thirds of which are smartphones, thus supporting digital payments.
Metel Group was founded in 2008 and focuses on the economic development of the country, aiming to bridge the gap in financial culture between the West and the MENA region.
Cellum is a multinational mobile wallet provider based in Europe. The partnership with Metel marks the first time the company enters the Middle East.
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