X-ERA Egypt, one of the Middle East’s leading providers of FinTech and logistics solutions, and Paymob, one of the leading financial services enablers in the MENA-P region, announced that they have signed a partnership agreement to digitise B2B payments for tens of thousands of grocers and small retailers in Egypt. The agreement was signed by Mahmoud ELenani, X-ERA’s CEO and Gillan Shaaban, Paymob CCO.
Paymob’s payment acceptance technology will now be integrated into X-ERA’s fast-moving consumer goods (FMCG) ordering application, creating an end-to-end digital business solution for merchants who previously only had the option to pay for their goods with cash upon delivery. Credit cards, digital wallets, and other payments from Paymob’s offering on the X-ERA app will now be seamlessly and securely processed through Paymob’s gateway. This partnership will digitise how grocers and small businesses operate and will serve to fuel their growth in the digital economy. Using Paymob’s technology, X-ERA merchants can also pay their utility and telecom bills to further digitise their businesses.
“I am very thrilled to sign this important agreement with Paymob, the leading digital payments and fintech service providers in Egypt and beyond,” said Mahmoud ELenani, X-ERA’s CEO. “This cooperation aligns with X-ERA strategy to redevelop Egypt’s informal commercial market, by providing a package of diversified fintech tools and payment solutions to small grocers, corner shops, small and medium-sized merchants in different governorates throughout Egypt.”
ELenani added that the partnership would empower small grocers and merchants to easily get a vast assortment of goods and FMCG products via smartphones around the clock while helping them raise business efficiency and operation volume and contribute to fast-track digitalisation of e-commerce in the informal FMCG market.
Gillan Shaaban, Paymob’s CCO, commented, “This strategic partnership is aligned with our mission to fuel the growth of SMEs in the digital economy. Digitzing B2B payments is key to the overall value chain, and we are proud to power X-ERA’s digital payments acceptance for its merchants. With this partnership, underserved merchants and grocers who lack access to traditional bank-offered financial services can now actively participate the digital economy.”
Source: https://ibsintelligence.com/ibsi-news/paymob-and-x-era-partner-to-digitise-b2b-payments-in-egypt/