GrubTech and Paymob partner to modernise Egypt’s F&B payment ecosystem

GrubTech and Paymob have signed a partnership agreement that will pave the way for restaurants, cafes and cloud kitchens in Egypt to modernise their operations and efficiently manage their payment systems.

Signed recently at Cafex, a B2B event for the restaurant and café industry, the partnership consolidates the strength of GrubTech’s plug and play operating system with Paymob’s expertise in the digital payment space. It is expected to help digitise Egypt’s food and beverage ecosystem, making it easy for operators to be up and running with an all-in-one solution.

“We’ve seen the chaos in the kitchen, and we fixed it using our all-in-one platform. Restaurants who used to wrestle with fragmented solutions and had to grapple with the burden of managing multiple vendors and disjointed data now experience a massive shift in operational efficiencies and an increase in sales. And that will only get better as we combine it with Paymob’s expertise in digital payment solutions,” said Mohamed Al Fayed, GrubTech’s co-founder and CEO.

An integrated payment solution will benefit not just restaurateurs, café owners, and cloud kitchen operators but also consumers, a statement said.

A recent survey done by Visa shows that 85 per cent of Egyptians are less likely to use cash for delivery payments. The shift is not only driven by convenience, as another study done by Mastercard says three out of four Egyptian consumers prefer digital methods nowadays because doing so helps them save money.

As one of Egypt’s fintech companies, Paymob has been empowering merchants across various industries to grow their business using multiple digital payment methods such as online payments, mobile wallets, and instalments. Established in 2015, the startup was one of the first to digitise the payment ecosystem in Egypt.

“We’re very excited to be partnering with GrubTech’s expertise, redefining the traditional payments reconciliation norms for the F&B sector by offering a bundled solution that seamlessly manages restaurants operations and payments from a single platform,” said Islam Shawky, Paymob’s co-founder and CEO.

Cafes, restaurants, and cloud kitchens across Egypt that use GrubTech’s point of sale and restaurant management system will be automatically signed up with Paymob, a licenced payment provider in the country, allowing consumer card payments made at the GrubTech point of sale to be processed by Paymob.

Meanwhile, GrubTech has raised over $18m from venture capital investors, highlighting continued investor confidence and growing market position.