Khatib Chakchouk is the founder and CEO of Paypos, a fin-tech start-up in Sousse that develops payment solutions for businesses, self-service kiosks, and mobile platforms.
Mr. Chakchouk started the company in 2014 with just three employees. He began by working with local telecom operators who needed electronic and mobile payment options or in-store payment terminals.
Quickly, Paypos’ business took off and began receiving interest from other regional firms, including in Algeria and Senegal. In 2015, Paypos expanded to these markets, providing payment terminals for telecommunications and utility companies.
The following year, Paypos decided to refocus operations in Tunisia after the country passed a law that would enable alternative payment institutions such as it to manage digital wallets and money transfers. Over the next three years, Paypos added around 18,000 payment terminals in Tunisia and significantly increased its revenue. In 2019, it gained the Tunisian Start-up Label for its innovative activities.
Still, however, the company faced numerous challenges, including high staff turnover due to engineers taking jobs in France and Canada and calls from clients for stronger data security standards.
JOBS helped Paypos move forward with better fraud prevention technology and security guidelines for processing, transmitting, and storing credit card data. In addition, JOBS linked the company with local banks to help it gain international certifications ensuring compliance with these data security and electronic payment standards. The company, meanwhile, provided employees with additional technical training and invested in IT infrastructure to support its growth.
As a result, Paypos brought on 12 new employees and reduced its staff turnover. The company plans to bring on even more team members as it prospects in new markets, such as Libya and Burkina Faso.
“Our vision is clearer now. We are excited about actively contributing to upgrading Tunisia's payment ecosystem.”
Founder – Paypos