{"id":46901,"date":"2024-01-24T18:12:25","date_gmt":"2024-01-24T15:12:25","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=46901"},"modified":"2026-03-28T05:00:13","modified_gmt":"2026-03-28T02:00:13","slug":"paymob-and-mastercard-partner-to-accelerate-digital-payment-acceptance-in-mena","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/paymob-and-mastercard-partner-to-accelerate-digital-payment-acceptance-in-mena\/","title":{"rendered":"PAYMOB AND MASTERCARD PARTNER TO ACCELERATE DIGITAL PAYMENT ACCEPTANCE IN MENA"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Riyadh, Saudi Arabia, January 24, 2024&nbsp;<\/strong>\u2013 Paymob, the leading financial services enabler in the Middle East, North Africa and Pakistan (MENA-P), has announced a partnership with Mastercard to accelerate digital payment acceptance across the MENA region.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;The strategic omnichannel partnership will leverage Paymob\u2019s payments infrastructure and Mastercard\u2019s payments technology to&nbsp;scale the adoption of low-cost solutions among micro, small and medium-sized businesses (MSMEs) in key markets. The agreement includes the acceleration and enablement of Tap on Phone, e-commerce gateway and payment links solutions. The collaboration\u2019s focus on low-cost solutions will fast-track mass adoption of digital acceptance among smaller businesses while addressing use cases previously not served by existing solutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;Access to low-cost solutions supports Mastercard\u2019s global goal of digitizing 50 million small businesses by 2025 and advances Paymob\u2019s commitment to enabling MSMEs to thrive in the digital economy. MSMEs are the engines of economic growth and vital contributors to the GDP in MENA. Their digital enablement drives prosperity and fuels financial inclusion as the region advances toward a cashless economy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;<strong>Islam Shawky, Co-founder and CEO of Paymob,&nbsp;<\/strong>said, \u201cThis strategic partnership with Mastercard delivers on Paymob\u2019s mission to fuel MSMEs via access to cutting-edge financial solutions. Our joint acceleration of low-cost digital acceptance solutions will lead to greater adoption of digital payments across the region. We are dedicated to creating an environment that ensures MENA MSMEs are empowered to compete in a cashless society.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;<strong>Gaurang Shah, EVP of Products &amp; Engineering, EEMEA at Mastercard,<\/strong>&nbsp;said, \u201cAt Mastercard, we are committed to developing fit-for-purpose solutions that enable MSMEs to pay and get paid securely. We are delighted to enter a collaboration with Paymob that builds on our complementary strengths to empower small businesses in the region to reap the full benefits of the thriving digital economy and maximize their participation in sustainable development.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;Mastercard leverages its extensive network, state-of-the-art technology and global partnerships to help MSMEs adapt to changing commercial environments and new spending patterns. The company serves as a trusted provider of innovative and affordable digital payment solutions tailored to the needs of small businesses, ideally positioning them to diversify and expand.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00a0As the leading omnichannel payments infrastructure provider in Egypt, Paymob offers its merchants the most comprehensive acceptance suite in the market, positioning it as a growth partner to MSMEs. The partnership with Mastercard follows Paymob\u2019s rapid regional expansion, powered by its Series B funding of USD $50 million in 2022. Beyond Egypt, Paymob serves merchants in KSA, UAE, Oman and Pakistan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Riyadh, Saudi Arabia, January 24, 2024&nbsp;\u2013 Paymob, the leading financial services enabler in the Middle East, North Africa and Pakistan (MENA-P), has announced a partnership with Mastercard to accelerate digital payment acceptance across the MENA region. &nbsp;The strategic omnichannel partnership will leverage Paymob\u2019s payments infrastructure and Mastercard\u2019s payments technology to&nbsp;scale the adoption of low-cost solutions [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":46902,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":24,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-46901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - 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