Paymob, a leading financial services enabler in the Middle East, North Africa, and Pakistan (MENA-P), has formed a strategic partnership with Tamara, the premier shopping and payments platform in the GCC region.
Paymob, known for its robust omnichannel payments infrastructure, caters to over 250,000 merchants across the region. Tamara, on the other hand, boasts over nine million registered users and collaborates with more than 30,000 partner merchants, making it a significant player in the GCC’s financial landscape.
The primary objective of this partnership is to integrate Tamara’s Buy Now Pay Later (BNPL) service with Paymob’s secure payment gateway. This integration aims to revolutionize seamless payments by allowing customers to split their payments into four parts without hidden fees or interest. This collaboration forms a comprehensive payments ecosystem that benefits merchants by offering more extensive and seamless customer solutions.
Paymob’s forte lies in its secure and versatile payments infrastructure, serving a wide range of merchants in the MENA region. Their services facilitate various payment methods, supporting the financial ecosystem’s growth. Conversely, Tamara specializes in streamlining the shopping and payment experience through its BNPL service, significantly enhancing the customer purchasing journey in the GCC.
The partnership is a strategic move to propel the growth of small and medium-sized enterprises (SMEs) in the MENA region, which are pivotal to the region’s GDP. Through Tamara’s BNPL solution, merchants are expected to witness substantial growth in average order value, online conversion rates, and repeat purchases. Initially targeting merchants in KSA and the UAE, the partnership plans to expand to additional countries in subsequent phases.
Paymob Co-founder and CEO, Islam Shawky, commented, “Our partnership with Tamara delivers on Paymob’s mission to fuel SME growth in the digital economy. There is a massive opportunity to enable merchants in the GCC to capitalize on the power of alternative payment methods and we are thrilled to partner with Tamara to fuel this growth in MENA.”
Tamara Co-founder and CCO, Turki Bin Zarah, added, “This partnership with Paymob provides seamless access to Tamara’s services to thousands of SMEs to enable their growth across the region. As a leading commerce enabler, we are revolutionizing how people shop, pay, and bank and are thrilled to partner with Paymob as we deliver on this goal.”
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