Paymob and Tamara partner to offer seamless payments for SMEs
By Delisha Fernandes
Paymob, a financial services enabler in the Middle East, North Africa, and Pakistan (MENA-P) has announced its partnership with Tamara, a BNPL platform in the GCC region.
The strategic partnership integrates Tamara’s Buy Now Pay Later (BNPL) service with Paymob’s secure gateway to power seamless payments by enabling customers to split their payments in four without any hidden fees or interest.
Islam Shawky, Co-founder and CEO of Paymob said, “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.”
The agreement between two of the MENA region’s fastest growing FinTech companies creates a payments ecosystem that enables merchants to offer more comprehensive solutions and seamless customer experiences.
Both companies have partnerships with some of the region’s biggest brands, however, this agreement is designed to fuel the growth of small and medium size enterprises (SMEs) which are the greatest contributors to GDP in MENA. For businesses of any size, comprehensive payment offerings ensure increased sales and conversions. With Tamara’s BNPL solution, merchants gain a 40% increase in average order value, a 15% increase in online conversion rates, and a 50% increase in repeat purchases.
The addition of Tamara’s BNPL solution to Paymob’s gateway is via a simple integration that reduces merchants’ barrier to entry and ensures transactions are processed seamlessly and securely. The partnership will initially serve merchants in KSA and the UAE in the first phase, with more countries planned to go live in later stages.
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