Paymob, the financial services enabler in the MENA, has started offering embedded checkout experiences to merchants in the region as it extends its partnership with Shopify, the commerce platform.
The new partnership will see Paymob launch embedded card and wallet payments options for merchants. This will allow them to streamline the checkout process, ensuring customers don’t need to navigate an external payment gateway.
In turn, this will reduce friction points and increase conversions and decrease cart abandonment. In fact, research has shown that embedded payments increase conversions by 40 per cent. Simultaneously, many customers have expressed increased satisfaction as a result of embedded payments.
Omar El Gammal, EVP global business development, Paymob
Omar El Gammal, EVP global business development, Paymob commented: “With double-digit e-commerce growth in the region led by the GCC countries where we operate, the market is projected to reach $57billion by 2026.
“Our embedded payments offering and digital onboarding will fuel this market boom and enable more MENA merchants to grow their businesses in the digital economy. As one of the first regional PSP to offer these experiences, merchants know they can trust Paymob to offer localized, secure, cutting-edge solutions.”
Paymob has also introduced digital merchant onboarding to enable fast, seamless setup of e-commerce stores on Shopify. Unlike manual onboarding, digital onboarding significantly reduces the time it takes for a business to start accepting payments by streamlining data collection, verification, and compliance checks. Paymob merchants in MENA can now launch fully operational e-commerce stores within 48 hours of onboarding.
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