The partnership aims to boost the development of the food and beverage sector in Egypt’s digital economy, in line with the country's Vision 2030.

Last Tuesday, restaurant management solution developer Foodics and fintech startup Paymob signed a partnership agreement to empower the food and beverage sector in Egypt.

The partnership aims to combine Foodics' restaurant management system (RMS) with Paymob's point-of-sale (POS) devices, creating a seamless end-to-end solution for restaurateurs and their customers.

"Tech enablement and the digital economy are critical factors for the acceleration of the F&B industry’s growth. By bringing Foodics and Paymob together, two regional technology powerhouses, this will serve to modernize the F&B sector in Egypt and advance the shift to cashless payments, fueling both growth and digital transformation,"said Belal Zahran (photo, left), Foodics country manager in Egypt.  

In Egypt, the food and beverage industry is a key facet of the economy. The country’s 104 million population represents a huge domestic market but, it is also the largest market in the MENA region.  According to the "Food & Beverage Market Size, Share, Growth Prospects and Opportunities 2020-2026" study, competition will likely intensify in the Egyptian food and beverage sector with emerging applications and an expanded product portfolio.

Through the partnership, the two regional tech powerhouses want to build the first wireless backend API integration for the Egyptian F&B sector. The collaboration will enable Foodics restaurants to accept all types of card payments using Paymob's point-of-sale devices. This will solve two major issues for restaurants, namely automating the reconciliation and payment processes to provide faster order processing and error-free, frictionless payment experiences.

Samira Njoya