PaySky, a leading company in financial technology and electronic payment solutions, has been ranked among the top 50 financial technology companies in the Middle East.
The company secured the 26th position on the list announced by Forbes magazine for the year 2024.
The ranking of companies was based on several criteria including sales, total assets, net profits for the year 2023, as well as the current market value of the companies.
PaySky provides its services to over 250 financial institutions, 60 million customers, and two million companies across 18 countries in the Middle East, Africa, and Asia.
Key markets include Egypt, Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Libya, Senegal, and Pakistan, with a total transaction volume reaching $605.8 million.
These achievements have contributed to the company’s recognition as the 26th strongest financial technology company in the Middle East according to Forbes’ list for 2024.
In 2022, the company collaborated with the global company Visa to launch its “Yalla Super App” to meet the daily needs of its customers. This has enriched the company’s service offerings to include financial services, bill payments, and e-commerce.
The company also provides services tailored for institutions and merchants, with the application witnessing over 2.7 million downloads.
The company plans to expand and launch the application in Pakistan and the Kingdom of Saudi Arabia during the current year.
Dr. Walid Sadek, the founder and CEO of PaySky, stated, “We are proud to be among the strongest financial technology companies in the region and look forward to continuing our journey to reshape the future of financial services.
The company is making relentless efforts to accelerate the pace of digital transformation and electronic payments as a cornerstone of our strategy and business ecosystem.”
He added, “Our presence in the list of the strongest companies in the region is evidence of the success of our strategy and our continuous efforts to evolve and innovate to reach an easier future.”
It is worth mentioning that this is not the first time PaySky has been honored by regional entities. The company was previously recognized by Forbes Middle East and was selected among the top 50 funded companies in the Middle East and North Africa in 2022.
The company achieved a notable milestone by topping the list as the most funded company in the North African region, solidifying its position and successes in the regional arena
