Paymob Partners with Mastercard
The collaboration between Paymob and Mastercard focuses on low-cost solutions for faster mass adoption of digital acceptance among smaller businesses.
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Paymob, a 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. The strategic omnichannel partnership will leverage Paymob’s payments infrastructure and Mastercard’s payments technology to 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, ecommerce gateway and payment links solutions. The collaboration’s 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.
Islam Shawky, Co-founder and CEO of Paymob, said, “This strategic partnership with Mastercard delivers on Paymob’s 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.”
Gaurang Shah, EVP of Products & Engineering, EEMEA at Mastercard, said, “At 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 maximise their participation in sustainable development.”
Access to low-cost solutions supports Mastercard’s global goal of digitising 50 million small businesses by 2025 and advances Paymob’s 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.
