PAYFORT Celebrates first year

PAYFORT Celebrates Successful First Year of Operation, Releases First Arab World Online Payment Report

May 27, 2014

To be released at the 2014 ArabNet Digital Summit, the report is an informative look into the changing trends of the region’s payments industry and the new payment options available to Arab customers

Dubai – 27 May 2014 – PAYFORT, the leading online payment service provider in the Arab world, announced today its plans to celebrate a successful first year of operation. Launched in Dubai, UAE last June, PAYFORT quickly became the region’s e-payment leader as it, in its first 12 months of operation, subsequently opened offices in Egypt and Saudi Arabia, and established partnerships with over 100 entities including established businesses, governments, and promising Arab startups.

“We at PAYFORT are proud of the success that we have had in our first year of operation, which included an expansion into the region’s largest markets, the development of a suite of e-payment products and services, and the establishment of partnerships with many crucial drivers of the region’s e-commerce industry,” said Omar Soudodi, Managing Director of PAYFORT. “We set out with the goal of taking the industry to the next level by equipping businesses and their customers with secure, easy-to-use e-payment options, and I think that our first year has been a strong step toward realizing that goal.”

The one-year anniversary of PAYFORT’s 2013 launch happens to coincide with the 2014 ArabNet Digital Summit, which will be held 3-5 June in Dubai. At the three-day event, which is touted as “the hub for Arab digital professionals and entrepreneurs to connect and learn,” PAYFORT, the Summit’s official Online Payment Partner, plans to release its report on the state of payments in the region, entitled Arab World Online Payment Report 2014.

The report aims to shed light on the rapidly evolving state of payments in the region by providing crucial sets of data, in-depth analysis into the key drivers of commerce, and many of the insights that PAYFORT has gained over the course of its first year of operation.

“As our region quickly shifts from a cash-first society to a cash-less society, we think that it is vital to pay close attention to its fastest growing sectors and the directions to which they are headed,” said Soudodi, who is a featured speaker at the Summit. “Our new report is an informative look into the changing trends of the region’s payments industry and the payment options being used by customers.”

The report’s analysis is derived from the markets in which PAYFORT has operated in over the past year, and the report will be available at no cost for those who register at https://www.payfort.com/stateofpayments2014/

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