Paymob announces its cooperation with Codashop, operated by the “second-fastest-growing fintech company in its region” according to the Financial Times, to provide convenient payment solutions in Egypt for gamers on mobile and PC games.
The gaming industry in Egypt is undergoing rapid growth that has been fuelled by the progress of technology and the increasingly tech savvy population, for whom, playing games, is also a go to form of entertainment. The speed of this growth has further been exacerbated with the COVID 19 pandemic and periods of home isolation, which relates to the latest findings by Oxford University about how time spent playing games has been positively associated with wellbeing.
Despite the popularity of online gaming in Egypt, Egyptian players were not able to enjoy the best gaming experience because they did not have the appropriate payment method to make in-game purchases. The partnership between Paymob and Codashop will allow millions of users in Egypt, who do not own credit cards or have reservations about using them online, to enjoy the premium benefits of mobile, console, and online games.
Codashop has worked to make Egyptian players’ experiences seamless by providing fast, safe and convenient payment methods to purchase in-game credits on smart devices, instantly and without using a credit card. The partnership with Paymob, one of the leading providers of digital payments technology in Egypt that offers a portfolio of international brands, and Vodafone Egypt, which has the largest number of e-wallet subscribers in the country, will enhance the experience of gamers and enable gamers to pay via Codashop using the following payment methods:
Coda Payments, which operates Codashop, works directly with worldwide leading game publishers. As a result of the agreement between Paymob and Codashop, from today Egyptian gamers will be able to access different games and apps recently integrated with Paymob such as Top Eleven, World War Heroes, Badlanders and Turbo VPN, among others.
Omar El-Gammal, Head of International Business Operations at Paymob, said that he is happy to partner with Codashop, as “the games industry is witnessing a great turnout in the region, and the company is proud to be part of this growth. Paymob aims to make players’ experience seamless by providing safe and convenient payment methods suitable for all players across Egypt”.
According to YouGov's “Gaming and Esports: The Next Generation” report, which analysed the situation of esports in 24 different countries, Egypt has the largest gaming population in MENA at 68%. The report also states that there is further potential for growth in the gaming industry in the Arab world. Codashop intends to contribute to this growth in Egypt not only by providing safe and advanced payment methods, but also enriching the gaming scene with competitions and activities for the gamers community in the area.
In this sense, Coda Payments recently made a powerful debut in Egypt with Codashop Global Series (CGS), a monthly online e-sports tournament for amateur players. The first and second editions, each lasting 2 days, have seen a total of 1,024 Egyptians players participating, with their latest live streams obtaining more than 47,000 views.
“The strategic partnership with Paymob ensures a faster and easier top up experience for our users in Egypt, allowing them to choose from the attractive line-up of games and digital content we offer on Codashop. With the launch of CGS, we are dedicated to fostering and engaging with the gaming community in Egypt.” - Coda’s CEO, Philippe Limes
Paymob is an infrastructure technology enabler providing payment solutions to empower digital financial service providers across Africa and the Middle East through innovative mobile wallet technology that gives the institute’s clients access to finance and digital payments. Paymob aims to contribute to the financial inclusion movement, while targeting economic growth by empowering merchants through payment facilitation to grow their business using multiple digital payment methods such as online payments, mobile wallets, instalments and more.
More information can be found at www.paymob.com.
About Codashop and Coda Payments
Codashop, operated by Coda Payments, has become a trusted payment platform to millions of customers worldwide. Codashop, which enables users to purchase in-game credits using safe and convenient payment methods without having to use a credit card, is currently visited more than 40 million times per month by customers who intend on paying for games and digital content.
Founded in 2011, Coda Payments (www.codapayments.com) helps digital content providers monetize their products and services in more than thirty markets. Publishers of leading games like as Moonton (Mobile Legends: Bang Bang), Garena (Free Fire) or PUBG Mobile, streaming platforms like beIN and Bigo Live, apps like Tinder, and video-on-demand platforms like Viu have integrated with CodaPayments to accept payments via Codapay, Codashop and xShop.
Coda Payments is headquartered in Singapore with additional offices in Jakarta and Bangkok. It is backed by Apis Partners and GMO Global Payment Fund, whose strategic management company is GMO Payment Gateway, Japan’s largest online payment gateway. Coda Payments has recently been named the 28th fastest growing company in the Asia-Pacific region by the Financial Times (and the second fastest growing fintech company in its region), the 8th fastest growing company in Singapore by the Straits Times, and a Technology Pioneer by the World Economic Forum.
For more information about Codashop, please visit its website and its social media page:
2 Oxford University. Video game play is positively correlated with well-being