Innovative software development start-up company Paymob has won a place on the Techstars Hub71 Accelerator.

The announcement comes after a rigorous selection process which saw just 10 companies accepted for the Class of 2021.

Hub71, based in Abu Dhabi, actively seeks to find and champion emerging talent across the technology industry.

The Hub71 Accelerator programme attracts business founders in a broad range of sectors from across the globe, and this year has been no exception, including applicants from Al Analytics, FinTech, Payment Technologies, Health Tech, Augmented Reality, Logistics and eCommerce.

Paymob has been awarded a place on the Class of 2021 in recognition of its technological advancement in contactless card payment solutions. Its innovative mobile app replaces conventional card payment terminals with smartphone software for payments ‘on the go’ in any place and at any time.

The Techstars Hub71 Accelerator provides successful businesses with an advanced three-month innovation and support hub, designed to give start-ups a head start. Benefits include office space, housing, health insurance, introductions to potential investors, marketing and business development.

Co-founder and CEO of Paymob Technologies Ltd Kosta Du said: “We are honoured to have achieved a place on the Hub71 Accelerator Class of 2021. Competition was tough and we feel it is a testament to our revolutionary technology and passion for driving innovation in the payment acceptance industry.

“The Paymob mobile app replaces conventional card payment terminals and is the result of years of research, resources and ambition.

“Merchants still using dedicated hardware to accept card payments will find this increasingly costly and difficult to sustain. Paymob can provide an entirely smartphone-based solution, which is a much more convenient and forward-thinking alternative and one that's already accredited by Visa and Mastercard. It is this vision that has secured us a place on the Hub71 Accelerator. It is the future.”

The place on the Class of 2021 Accelerator is yet another milestone for Paymob Payment Solutions, following both Mastercard and Visa certification in 2020, providing peace of mind that the Paymob technology meets the highest standards for functionality and security.

To find out more about Paymob Technologies visit https://paymobtech.com/.

To find out more about the Techstars Hub71 Accelerator Programme visit https://www.techstars.com/.