Waleed Sadek, Founder And CEO Of Paysky: Reshaping Digital Financial Services Across The Middle East & Africa

Waleed Sadek, Founder and CEO of Paysky and Yalla Super App, explains how the Egyptian fintech is building payment infrastructure and solutions to power MEA’s growing digital ecosystem.

The year 2017 marked the inception of the leading payment solutions provider Paysky, which is making a significant impact in the digital financial services domain across the Middle East and Africa (MEA). To date, the fintech’s innovative solutions have contributed to the democratization of digital financial services for over half a billion citizens and over two million businesses.

More than a solutions provider, Paysky is an ecosystem enabler building payment infrastructure to help power the new digital economy across the MEA region. It empowers financial institutions, businesses, and individuals in 18 countries to remit, pay, and get paid, through its home-grown, world-class, and full-fledged platforms for digital payments acceptance and digital accounts.

Paysky has played a pivotal role in driving financial inclusion and digital transformation across the African continent by empowering the central banks of 10 different countries with a world-class digital financial services platform. In doing so, the company has provided substantial impetus to national campaigns for greater financial inclusivity and the advancement of digital landscapes.

At the helm of Paysky is Dr. Waleed Sadek, a seasoned serial entrepreneur with over two decades of expertise in digitizing financial services. His strategic vision and process-oriented finesse were honed during his tenure at Visa, where he led innovation and new technologies for MEA, before managing Visa’s strategy team for Central and Eastern Europe, the Middle East, and Africa (CEMEA).

Strategic partnerships have been a cornerstone of Paysky’s success, solidifying relationships with central banks, financial institutions, card schemes, and telecom operators. Continuing this trajectory, Paysky, in collaboration with Visa, expanded its offerings beyond B2B, unveiling the Yalla Card and Yalla Super App, in 2022.

The Yalla Card and super app have taken the market by storm, shattering records with over 3.3 million downloads, facilitating more than eight million transactions, and boasting a transaction volume exceeding $330 million to date. The speed at which this milestone was achieved demonstrates the strong demand in the market for Yalla’s comprehensive digital financial solutions. The fully-fledged digital platform offers a comprehensive range of financial services, including sending, receiving, saving, tracking, and investing money.

Looking forward to 2024, Paysky is embarking on a vigorous strategy, commencing with a complete brand revamp that reflects the company’s new goals and vision for the upcoming Paysky era. Regional expansion is at the forefront of Paysky’s agenda, targeting the UAE, Pakistan, and KSA in Q1 and Q2 for its B2C offering, Yalla Super App. Internally, Paysky’s commitment to growth is evident through a substantial team development plan, already underway, that involves doubling its talent pool with top industry professionals, across its four offices in Egypt, UAE, KSA, and Pakistan.

Paysky is reshaping digital financial services across Africa and the Middle East through innovation, strategic collaborations, and a strong commitment to boosting national economies and improving lives by democratizing payments and promoting financial inclusion.

Link for the interview: 

https://www.forbesmiddleeast.com/leadership/leaders-insights/reshaping-digital-financial-services-across-the-middle-east-africa