UAE, KSA And Egypt Pitch To Give T-Pay 62-fold Business Growth

tpay-logo

T-PayTM, the first open mobile payment platform in the Arab region launched by ArpuPlus, has revealed that its business has seen a 62-fold growth in revenue last year. The UAE, Saudi Arabia and Egypt have been leading the pack, currently generating over half of the regional revenue.

A integrated and secure Direct Operator Billing (DOB), T-PayTM expands the mobile payment ecosystem. The platform is one of the newest ventures of ArpuPlus, launched in January 2014 as the First Direct Billing service in MENA. It aims to enable online business monetisation in the region. ArpuPlus, an OTVentures company, has built this ecosystem for mobile payment, connecting consumers, businesses and mobile operators through one simple integration, a one-time registration followed by a one- step and click-to-buy button.

T-Pay.me has partnered with 21 mobile operators from 10 countries to provide DOB to over 200 million mobile subscribers, giving international and regional digital businesses opportunities to reach out to new consumers and grow in new markets. Customers can also benefit by charging their purchases directly to their mobile accounts and gain access to T-PayTM’s wide network of merchants.

Fadi Antaki, CEO of OTVentures said, “Consumer appetite for mobile technology is on the rise. Users want quick, easy-to-use and secure channels to address their day-to-day needs. This is also reflected in the accelerating smartphone penetration rates with an estimate of seven billion mobile subscriptions globally. The mobile phone, as a payment technology in particular, is expected to register significant growth over the next five years. This solution is rapidly revolutionising the way the digital world works. Businesses can tap into new markets with the use of T-PayTM and grow exponentially by reaching new consumers and markets.”

As per industry estimates, mobile payments are expected to grow between 350 and 900 million users globally, generating anywhere between US$430 billion and US$1 trillion in transaction value by 2015. The Middle East’s share of mobile payments is still minimal but is expected to grow at a compounded annual growth rate (CAGR) of 80 per cent until 2017, when it will be worth US$27.6 billion. Almost half of that, or US$13 billion, will be generated from DOB. With the region recording one of the highest Internet traffic growth annually at 51% until 2016, emerging markets like MENA present a huge potential for DOB. T-PayTM is working together with merchants and operators to lead the DOB growth and help mobile developers and aggregators reach a wide range of consumers.

Medhat Karam, CEO of ArpuPlus said, “T-PayTM has built significant partnerships with market leaders since its launch. The payment platform allows operators and merchants to work seamlessly together to offer consumers a convenient, secure and efficient method of mobile payment. These partnerships are the key to attaining the real potential of online and digital business. The Arab region has a huge unaddressed market for digital payments. This is primarily dominated by young, unbanked population which has no access to making online payments for digital goods and services. We, at T-PayTM, are filling this gap by offering a solution that caters to all the members of the value chain- buyers, merchants and mobile operators.”

Sahar Salama, T-PayTM General Manager said: “T-PayTM has recorded 238-fold traffic growth since its inception. The local digital and e-commerce market is excited about this new payment gateway and the added value it brings to businesses. T-Pay has already attracted a large number of international and regional merchants who are looking at exponential growth throughout the MENA region, by reaching cross-border customers who have not been accessible before. These merchants operate in diversified sectors, like gaming, classifieds, entertainment Video-on-Demand (VOD) and Over-the-Top-Content (OTT) platforms, social learning and education, pre-paid cards stores, as well as professional consulting services, and connected them to their customers through a comprehensive network of mobile operators. These digital merchants are feeling the positive impacton their businesses generated by the repeated daily use of the system.”

Currently forty percent of internet users in the Arab region are buying goods online. Only 22% use credit cards, which has a penetration of as low as 1.5% to 8% in most of the countries. Five out of six users prefer DOB over credit cards, fourteen out of twenty prefer DOB over all other payment methods.

 

 

Add Comment