In an interview at the Global Entrepreneurship Summit, founder and CEO of regional payment solution Gate2Play, Muhannad Ebwini, discusses the future of the regional e-commerce ecosystem and how Gate2Play plans to use recent investment by Middle East Venture Partners (MEVP) in Lebanon.
He explains that Gate2Play serves customers across the Arab World and Turkey, integrating with the payment gateways customers prefer to use across the region. But Gate2Play is focused solely on the relationship, tailoring a unique deal for each merchant interested in doing business in the region. The startup builds trust with these companies by guaranteeing on-time payment, even if customers haven’t paid yet.
With the recent round of investment from MEVP, Ebwini hopes to increase Gate2Play’s business by over 50% in 2013. “We chose MEVP as a strategic partner more than an investor. It’s not about the money, it’s about the complete package,” he says.
Ebwini also offers a brief outlook on the future of e-commerce in the region over the next 5 years. “It’s the time for the Middle East,” he concludes confidently.