UAE-based B2B payments platform Xpence has joined forces with Egypt-based Paymob to augment the digital payments landscape for SMEs in the GCC. Under the joint deal, Xpence will deploy Paymob’s advanced payment processing technology directly into its platform, allowing SMEs throughout the GCC to seamlessly collect both online and in-person card payments.

Integrating Paymob’s technology into Xpence’s platform will enhance the digital payment infrastructure available to businesses in the region, securing greater efficiency and scalability in their operations. Commenting on this partnership, representatives from Xpence said they will be rolling these features out to their customers in the UAE first, providing SMEs with the tools to simplify business payments and improve operational efficiency. This collaboration reinforces their commitment to empowering businesses across the GCC in today’s rapidly evolving digital economy.

In a reply, representatives from Paymob stated that their collaboration with Xpence is a strategic move that extends their payment solutions to more businesses in the GCC, enabling them to thrive in an increasingly competitive market. Together, they are setting a new standard for digital payments in the region. Previous news from Paymob In September 2024, Paymob announced it has extended its Series B funding round to USD 72 million, with an additional USD 22 million led by EBRD Venture Capital, alongside participation from existing investors such as PayPal Ventures and BII.

This extension follows Paymob's continued profitability in its core Egyptian market and supports its ongoing regional growth strategy across MENA. The company aims to meet evolving customer needs while staying compliant with local regulations. Paymob plans to use the funding to expand its suite of services in Egypt and scale operations in newer markets, particularly in the GCC region.

Following its initial Series B funding in 2022, which raised USD 50 million, Paymob launched its app and grew its merchant base by 3.5x, serving 350,000 merchants across MENA. The company is now focused on enhancing digital infrastructure to support SMEs and accelerate its growth in the digital economy. Source: Link .