GrubTech, Paymob partner to disrupt Egypt’s food and beverage payment ecosystem

Fast-growing start-ups GrubTech and Paymob signed a partnership agreement this week that will pave the way for thousands of restaurants, cafes, and cloud kitchens in Egypt to modernize their operations and efficiently manage their payment systems.

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

The GrubTech and Paymob collaboration features two, highly successful homegrown start-ups who share the same DNA and have helped fuel digital transformation in the Middle East.

GrubTech has delivered key operational benefits for restaurant and cloud kitchen operators in 17 key markets around the world, and it has only been two years since it launched. Its entry into Egypt and partnership with Paymob will usher a new era of digital transformation in the industry.

“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 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 more importantly, consumers. A recent survey done by Visa shows that 85% of Egyptians are less likely to use cash for delivery payments.

The shift is not only driven by convenience, as another study 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 leading fintech companies, Paymob has been empowering merchants across a wide range of industries to grow their business using multiple digital payment methods, such as online payments, mobile wallets, and installment plans. Established in 2015, the start-up was one of the first to digitize the payment ecosystem in Egypt.

“We’re very excited to be partnering with Grubtech’s expertise, redefining the traditional payments reconciliation norms for the food and beverage sector by offering a bundled solution that seamlessly manages restaurant 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 licensed payment provider in the country — allowing consumer card payments made at the GrubTech point of sale to be processed by Paymob.

GrubTech has raised over $18m from reputable venture capital investors, highlighting continued investor confidence and a growing market position. The partnership is strategically positioned to cover the entire country with a combined salesforce that should drive widespread adoption.

GrubTech is an end-to-end intuitive operating system for restaurants and cloud kitchens. Its all-encompassing solution streamlines day-to-day operations with tools and capabilities such as an omni-channel point of sale, inventory management, native integrations with food delivery apps, an interactive kitchen display system, multi-brand menu and recipe management, commercial and operational reporting and analytics, advanced marketing capabilities, a customer management portal, and more.

© 2022 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).

Leave a Comment