Egypt’s share of the region’s 2014 $50 billion online ticketing market
was 12 percent or $6 billion
PAYFORT, the region’s leading online payment service provider, adds a new merchant to its portfolio from the high-potential travel industry
PAYFORT, the Arab world’s leading online payment service provider, announced today that it has signed an agreement with Air Cairo — an airline that services the Middle East and offers inclusive tour flights to Egypt from Europe, Africa and Asia — which will allow the carrier to offer PAYFORT payment options to its customers.
“We are very excited to be partnering with Air Cairo as we feel that we have a number of innovative online payment options and solutions that can really help its business grow,”said Omar Soudodi, Managing Director of PAYFORT. “By offering a wide range of payment options, including credit/debit card payments from globally recognized payment leaders such as American Express, cashU, MasterCard, and Visa, we are helping to boost sales and adding convenience to the ticket booking process.
“This partnership is demonstrative of PAYFORT’s continued commitment to offering members of region’s travel and hospitality industry the best online payment options, which will enable them to thrive in the region’s rapidly changing, and increasingly electronic, commerce environment,”he added.
While less than ten percent of the region’s traditional airlines’bookings are conducted online, nearly 50 percent of the region’s low-fare carriers’bookings are made online. By partnering with the low-fare carrier, PAYFORT is poised to benefit from this trend. More generally, the region’s airline industry —a $50 billion online ticketing market in 2014, of which the Egyptian marketshare is 12 percent or $6 billion —has experienced considerable growth over the last decade, with the percentage of global passengers using Arab airlines carriers increasing from 2 percent in 2002 to 11 percent (352 million passengers) in 2013.
“Air Cairo has chosen PAYFORT due to its great reputation in the online payment business in the region and its state-of-the-art technology, which makes online purchasing enjoyable for the customer, who can rest assured that, due to PAYFORT’s compliance with PCI requirements, they will get the service they paid for and that their personal data will remain secure,”said Yasser Elramly, CEO & Chairman Air Cairo.
“For merchants PAYFORT makes online business more relaxing as its fraud detection module greatly reduces fraudulent activity, which minimizes risk and the potential for loss.”
“We at Air Cairo expect that PayFort will maximize our online business through their various solutions offered in several countries such as pay@store,pay@homeand ‘call center payment solutions.’These innovative solutions will allow Air Cairo to reach more customers and different market segmentations and will provide the ability to use yield management in the selling our products, which include not only the seats themselves but also ancillary revenue products.”
The addition of Air Cairo to the PAYFORT portfolio strengthens its already potent group of travel and hospitality players from across the region, which includes Air Arabia, the Sharjah-based United Arab Emirates national budget airline; Flynas, a leading low-cost Saudi airline; Flyin.com, Safarna.com, a Cairo-based online platform that combines more than 300 travel agencies worldwide; Triptanza, Hammock Tours, a Cairo-based travel agency specializing in honeymoons and group trips; GoEjaza.com, a Cairo-based online travel agency; Yas Island, the UAE’s prime business, leisure and entertainment destination; and TECOM Investments, a real-estate master developer, operator of Dubai’s leading business parks, and Dubai Holding portfolio company.
