New account-to-account service by Paysky slashes costs and boosts speed across Africa and Middle East.
Revolutionizing Payments with “Pay by Bank”
Egyptian fintech powerhouse Paysky (site) has rolled out its latest innovation—Pay by Bank, a direct, account-to-account (A2A) payments service that boldly challenges legacy payment networks. By enabling banks, merchants, and consumers to bypass third-party processors, this service promises faster settlements, lower fees, and heightened transparency.
Driving Efficiency & Cost Reduction
Traditional payment routes often involve multiple intermediaries, each adding transaction time and cost. Paysky’s A2A system offers a streamlined alternative—eliminating routing fees and accelerating settlements. It’s a leap toward more efficient trade and e-commerce across the region. This translates into lower trade transaction costs and improved liquidity for businesses.
Scaling Regional Financial Inclusion
Founded in 2017 by Dr Waleed Sadek, Paysky today supports over 250 financial institutions and connects 600 million users across 18 markets in Africa and the Middle East. This network foundation is enabling a swift rollout of Pay by Bank across several leading African banks. Furthermore, Paysky’s involvement in national payment gateways for central banks underscores its ambition to scale A2A services to a sovereign level
Strategic Impact on Trade & Investment
For importers, exporters, and investment groups active in Egyptian and African corridors, Paysky’s service offers enhanced capabilities in:
- Cross-border payments: Seamless, instant transfers without card dependencies
- E‑commerce facilitation: Improved merchant experiences with real-time settlements
- Operational savings: Reduced intermediary fees that directly impact margins
These elements combine to make trade more fluid, digital, and cost-effective—key to accelerating regional investment flows.
“The digital economy has moved forward, but the infrastructure powering it is still stuck in the past. With “Pay by Bank”, we’re giving financial institutions and merchants a powerful alternative – fast, affordable, and built for scale. This is how we make financial inclusion a reality, not just a vision,” said Dr Waleed Sadek, CEO of Paysky.
Paysky’s Pay by Bank marks a pivotal shift in fintech-led payment innovation. With faster, cheaper, and more transparent transactions, the service stands to bolster trade and investment across Egypt and its African partners—promoting financial inclusion and economic integration in Gulf‑Africa trade corridors.
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