Webx Pay, powered by Paymob, guarantees to significantly cut the merchant’s payment setup time by offering instantaneous access to comprehensive payment services to process payments through digital wallets, credit cards, or bank transfers. Via this partnership, online businesses in Pakistan can process online payments immediately after creating their digital stores on Webx Ecommerce.
The usual payment acceptance methods for Pakistani e-commerce merchants remain complicated, long-winded and heavily dependent on legacy financial infrastructure with online businesses usually requiring four to six weeks to set up a merchant account in order to start accepting online payments.
The Future of Ecommerce Is Here
Through this partnership, a first for the Pakistani e-commerce industry, this service empowers Pakistani e-commerce entrepreneurs, enabling same-day creation of merchant accounts without the need for setup or recurring charges. Moreover, Webx Pay ensures next day clearance of funds to enable continuity and ease up cash flow for local businesses.
“E-commerce is not the future anymore; it’s the present,” says Fasih Uddin, vice-president, product and growth. “Webx envisions to make e-commerce accessible for all Pakistani businesses and individuals across various industries, enabling them to leverage simplified payment processing solutions as a strategic driver for growth. With the commerce dynamics across emerging markets changing rapidly, a strong and mature e-commerce ecosystem within Pakistan is inevitable to stay astride. Thanks to the versatile and one-of-a-kind payment dynamics being provided by Paymob, Webx Pay will be a step further in making e-payments simple and easy.”
Omer El-Gammal, executive vice president, global business development at Paymob remarked, “We continually strive to offer best in class financial services in the markets we serve. This partnership will enable seamless on-boarding of e-commerce merchants in Pakistan through the Paymob gateway. By empowering merchants to accept multiple payment options instantly, Webx Pay and Paymob will jointly serve to fuel e-commerce growth in Pakistan.”
Adding on what the launch of Webx Pay mean for the Pakistani e-commerce ecosystem, Uddin commented: “Pakistani e-commerce has shown a growth of 300 per cent in the last two years and conservative estimates predict that over the next five years the industry is due to grow at a trajectory six times faster than the current rate. We believe that the entrepreneurial talent and fervour within Pakistan will continue to play a significant and pivotal role in this rapid growth. Solutions like Webx Pay aim to harness the potential and facilitate the ambitions of such audiences, minimising the go-to market time for aspiring businesses, reducing the payment on-boarding time from six weeks to just a few minutes.”
Webx is the only Pakistani e-commerce platform to offer a fully-integrated payment solution. It enables merchants to accept and manage payments online and in-store while providing them with a formidable lineup of services to manage and grow their e-commerce capabilities. Entrepreneurs can build an online store in less than five minutes on Webx and have the ability to choose from a wider range of bespoke website designs comprehensively built in with social media integrations and supported by logistics partnerships. Webx Pay comes at no additional cost and is exclusively offered to Webx Ecommerce customers.
Improving Access to Digital Payments and Financial Services
Paymob’s omni-channel payment infrastructure enables SMEs to accept digital payments online and in-store as well as giving them better access to financial services. As an API integrator, Paymob checkout serves as a gateway that sits on merchants’ websites to facilitate payment capture. In Egypt, Paymob’s gateway offers the largest number of payment methods in that market. In addition to conventional bank cards, Paymob merchants have access to mobile wallets, QR payments, bank card instalment plans, and Buy-Now Pay-Later (BNPL) options all of which serve to drive an increased volume of transactions and revenue.
Fawad Abdul Kader, Paymob’s country head in Pakistan said, “We are extremely excited to see the exponential growth of e-commerce in Pakistan. This partnership between Paymob and Webx will allow us to reach our goal of empowering SME and retail merchants across the country by offering them multiple methods of payment acceptance and growth through a single platform.”
The Pakistani startup ecosystem has recently been in a funding frenzy, having secured more than $350million in the last year alone. Add to this the fact that local small and medium-sized enterprises have become increasingly e-commerce savvy to create a diverse market. These conditions have created the perfect environment to propel Webx Ecommerce to become one of the most in-demand e-commerce services in this region.
Source: https://thefintechtimes.com/webx-and-paymob-to-launch-webx-pay-in-pakistan/