Since its establishment in 2017, Paysky has emerged as a pioneering force in the fintech landscape, particularly in Egypt and across Africa. With a mission to democratize access to digital financial services, Paysky has become synonymous with innovation, driving financial inclusion and reshaping the payment ecosystem in the Middle East and Africa. Operating in 18 countries, including pivotal African markets such as Egypt, Senegal, Ivory Coast and Ghana, Paysky has positioned itself as a strategic partner for financial institutions, businesses, and consumers seeking advanced, innovative digital payment solutions.
Revolutionizing payment infrastructure across Africa
Paysky’s commitment goes beyond providing digital payment solutions — it plays an instrumental role in building and enhancing payment infrastructure across the continent. The company powers national payment gateways in Egypt and Libya, as well as eight African countries under the GIM-UEMOA network. This extensive reach underscores Paysky’s dedication to fostering a seamless, cashless economy that promotes financial empowerment.
Paysky’s comprehensive approach to digital payments has enabled the company to serve over 500 million customers and support more than 2 million businesses, making transactions more secure and accessible. By tailoring solutions that meet the unique demands of each market, Paysky helps bridge the financial gap, addressing challenges faced by cash-centric economies in Africa.
Transformative solutions with Yalla Super App
One of Paysky’s standout achievements is the Yalla Super App, launched in 2021 in partnership with Visa. The app is a multi-functional platform that offers a wide range of services, including money transfers, electronic payments, shopping, insurance, investment, and “save now, pay later” options. It gained rapid traction, surpassing 800,000 downloads and facilitating over a million transactions worth over half a billion Egyptian pounds within its first 100 days. This success story illustrates Paysky’s innovative prowess in creating digital tools that simplify everyday financial interactions.
A major milestone in the journey of the Yalla Super App was winning the prestigious We Make The Future competition in Europe. Competing against over 3,000 startups, Yalla stood out as the victor, further cementing Paysky’s reputation as a leader in digital financial innovation. This achievement is a testament to the app’s innovative groundbreaking nature and its potential to set new benchmarks in the fintech world.
Financial sustainability for individuals
Beyond payments, Paysky promotes financial sustainability through advanced savings and investment solutions. A notable example is the gold-trading feature on the Yalla Super App, which enables users to invest in gold as a long-term savings tool. Additionally, users can access small-scale money market investments, further demonstrating Paysky’s commitment to offering flexible financial solutions that cater to a diverse range of individual needs. These features empower users to make informed, secure financial decisions, fostering greater financial independence and stability.
Leadership and vision
At the helm of Paysky is Dr. Waleed Sadek, a seasoned industry leader whose extensive background includes serving as head of strategy and innovation for central and eastern Europe, Middle East, and Africa at Visa. His experience at Visa provided him with profound insights into global payment strategies and innovation, laying the groundwork for his vision to revolutionize the digital payment landscape through Paysky.
Reflecting on the company’s journey and its transformative impact on the region, Sadek said: “At Paysky, our mission goes beyond just creating payment solutions; we are building the financial infrastructure that will drive the digital economy forward in the MEA region. By empowering individuals and businesses with accessible, reliable, and innovative digital tools, we’re laying the foundation for a future where financial inclusion is not just an aspiration but a reality, that paves the way to economic prosperity and social welfare.”
Strengthening security and infrastructure
A vital part of Paysky’s success lies in its focus on security and reliability. The company’s Paysky 3DS 2.0 system exemplifies this by enhancing the security of digital transactions, giving users confidence in adopting cashless payments. Such innovations make it easier for businesses to integrate with digital platforms, boosting trust and expanding the reach of electronic financial services across Africa.
Awards and recognition
Paysky’s achievements have not gone unnoticed. It has received numerous prestigious awards, reflecting its leadership in the fintech sector. In 2018, it was recognized by DIFC FinTech Hive as the largest fintech accelerator in the Middle East, Africa, and South Asia. Other accolades include “Egypt’s Fastest-Growing Multichannel Payment Solutions Provider” by The Global Economics and “Most Innovative Digital Financial Services Platform” by the MEA Business Awards in 2021. The company was also named the “Best Provider of Innovative Multichannel Payment Solutions” by Global Business Outlook in 2023 and featured on Forbes’ list of the top 50 fintech companies in the Middle East in 2024. The Yalla Super App won “Most Innovative Digital Banking Platform” in 2021 and “Fastest-Growing App” in 2023, in addition to its victory at WMF.
A vision for inclusive growth
Paysky’s strategy emphasizes sustainable innovation and strategic market entry, especially in regions with untapped potential. For example, with the substantial flow of remittances from the UAE and Saudi Arabia, Paysky is expanding its presence in Pakistan, which, like many African markets, relies heavily on cash-based transactions. By harnessing these opportunities, Paysky aims to further integrate digital payment systems that benefit both individual users and businesses.
The path ahead
As Paysky looks to the future, its vision remains clear: to be the preferred financial ecosystem enabler across the Middle East and Africa. With its strong foundation in innovation, proven track record, and commitment to building partnerships that uplift local economies, Paysky is set to continue shaping the landscape of digital payments. The company’s efforts align with the broader goal of enabling financial sustainability and driving digital transformation throughout the region.
Paysky is more than a fintech solutions provider — it is a transformative force building the infrastructure for a robust, cashless economy across Africa and the MEA region. Through its bold initiatives and forward-thinking approach, Paysky stands at the forefront of digital payment evolution, making a significant impact that resonates across continents.