Egyptian FinTech firm Vapulus has just done something that no other global payment services provider could pull off yet. The startup announced earlier in the week that it has rolled out the world’s first e-payment gateway that doesn’t levy any transaction fee. The move is expected to make a huge impact on the e-commerce sector worldwide by raising the competition bar in the burgeoning sector.

SMEs relying on online sales are likely to be the biggest beneficiaries of this new Vapulus initiative as the company charges no subscription fee, no transaction fees, and not even any fixed fee per transactions.

Abdelrahman Elsharawy, co-founder and CEO of Vapulus, shared his thoughts on the milestone move by commenting: “We believe that technologies such as ACH, wallets, blockchain, bank-to-bank interoperability will all kill the physical cards, transaction-based model, and that is why we are getting ahead of the curve providing a new model that is 0% fees, and that is capable of on-boarding businesses that cannot operate with the existence of transaction fees.”

Founded in 2016 in Cairo, Vapulus officially began operations in the Middle East and North Africa nearly a year after a soft launch. It currently serves more than 450 merchants across 14 countries including several e-commerce heavyweights in the Gulf region. The company plans on expanding globally by the end of 2021.

Vapulus pitches its e-payment solutions as an easy, unique, and secure way to carry out online transactions and retail purchase.

Ghadeer Alaradi

Ghadeer Alaradi

A writer and content producer for StartUp Bahrain who enjoys uncovering stories of founders who are making a difference in their communities, successful women, passionate youth, and change-makers who strive to make the world a better place.

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