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Mon 20 Oct 2008 04:00 AM

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Market push for e-pay firm

Mobile payment firm Paybox is gearing up for a new regional push this GITEX Technology Week, following a spate of high-profile deals in Europe and Canada.

Mobile payment firm Paybox is gearing up for a new regional push this GITEX Technology Week, following a spate of high-profile deals in Europe and Canada.

The company looks set to target the Middle East's underdeveloped e-payment market, an ambition bolstered by a tie-up with Masary Egypt, announced earlier this month.

Under the terms of the deal, the two firms will roll out a money transfer service enabling customers to send and receive money, top-ups and credit through their mobile phone.

"Our company believes in supporting new mobile payment initiatives worldwide, especially in the Middle East region, where each country has its own business needs and dynamics," says Eckhard Ortwein, CEO of Paybox.

Ortwein sees the Middle East as a market ripe for investment, specifically with its large migrant workforce.

"Partnering with local firms with the right vision for developing lucrative, innovative business models  is something we are always looking for." he says.

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