Egypt's Paymob teams up with Tamara to support SMEs in GCC
TLDR
- Paymob and Tamara have partnered to support SMEs in the GCC region by integrating Tamara's BNPL service with Paymob's secure gateway.
- Customers can now split their payments into four installments without hidden fees or interest.
- This collaboration aims to create a comprehensive payments ecosystem, offering seamless solutions and enhanced customer experiences for merchants.
Paymob, a financial services enabler based in Egypt, has entered into a partnership with Saudi buy now pay later (BNPL) startup Tamara to support small and midsize enterprises (SMEs) in the Gulf Cooperation Council (GCC) region.
The collaboration involves integrating Tamara's BNPL service with Paymob's secure gateway, allowing customers to split their payments into four without hidden fees or interest. Paymob's omnichannel payments infrastructure serves a total of 250,000 merchants in the region, while Tamara has over 9 million users and more than 30,000 partner merchants.
This partnership aims to create a comprehensive payments ecosystem, providing seamless solutions and enhanced customer experiences for merchants.
Key Takeaways
Egypt’s huge, cash-dominated small business economy offers strong opportunities for fintech companies like Paymob, which continue to witness exponential growth in the market. The startup currently has 200,000 local and international merchants using its payment gateways and plans to reach a third of Egypt’s 3 million SMEs in the next few years. That ambition drives its recent partnership with Tamara. Over the past few years, a growing crop of startups and their founders have made growth-focused, strategic expansions beyond Africa to emerging markets elsewhere—particularly the Middle East, Asia, and Latin America. For Paymob, the market opportunity in Saudi Arabia is significant: there are millions of SMEs using relatively few POS terminals and even fewer e-commerce payment gateways. The market gap thus fits its solutions.
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