Financial service provider Paymob has announced its partnership with IKEA Egypt to offer clients in the region a wider scope of payment options and products. Following this partnership, customers in Egypt will have the possibility to benefit from multiple new tools, such as bank-offered easy payment plans (EPP), customer finance options, and digital wallets, in addition to credit and debit cards.

The addition of Paymob’s secure and effective services into IKEA’s payments infrastructure aims to improve the experience users have at checkout and to make the latter’s products more accessible to clients from multiple regions and market areas. The solutions will focus on the different needs and preferences customers might have, as well as the demands that come with the development of the industry. IKEA will also have the capability to leverage the access to bank EPPs, enabling clients to gain wider flexibility and control on their spendings and their balance, in order to manage their finances in a more effective and secure manner.

Paymob’s strategy of development Egypt-based fintech company Paymob provides its customers with numerous payment acceptance methods, as well as several solutions. These include the omnichannel payments infrastructure (that enables multiple online and in-store payment methods within its gateway platform), point of sale (POS), and app products, allowing merchants and traders to manage their finances, grow their business, and make payments safely and seamlessly via its real-time dashboard. At the beginning of March 2023, Paymob partnered with Shahid to expand VOD digital payments in Egypt, enabling users to pay for subscriptions while using electronic wallets.

With this collaboration, Shahid became one of the subscription videos on demand (SVOD) services in the market to offer its clients e-wallet payment options. The API integration enabled Shahid’s clients to pay subscription fees securely with any local e-wallet. Paymob’s technology was set to enable Shahid to make its SVOD product more accessible by expanding digital payment acceptance methods.

In January 2023 the company collaborated with digital warehousing and fulfillment management platform Khazenly. The deal focused on enabling traders and merchants to fully digitise business operations. The partnership created an end-to-end ecosystem that combined Paymob’s multiple digital payment acceptance and payout services with Khazenly’s digital fulfillment and warehousing products.

The technology integration was set to improve the way merchants managed their companies in Egypt, resulting in streamlined operations and more efficient and secure transaction lifecycles, prioritising the expansion of merchants’ customer base as well. Paymob also announced in November of 2022 its plan to make a sizeable investment in the UAE market until 2025, as part of its global expansion strategy. The move in the UAE market was aimed to serve in augmenting small and medium enterprises (SMEs) and microbusinesses across the seven Emirates with digital payment solutions that drive growth in the digital economy.

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