Paymob, a prominent financial services enabler in the MENA region, has announced the launch of its new embedded checkout experiences for merchants, marking a significant extension of its partnership with the commerce platform Shopify. This new initiative is set to revolutionise the way merchants handle transactions, providing them with advanced card and wallet payment options directly integrated into their checkout processes.
With this enhanced partnership, Paymob aims to streamline the payment experience by integrating embedded payment solutions that eliminate the need for customers to be redirected to an external payment gateway. This seamless integration is designed to reduce friction points during the checkout process, thereby improving the overall customer experience. Research indicates that such embedded payment systems can increase conversion rates by up to 40 per cent, while also contributing to a noticeable decrease in cart abandonment rates. Furthermore, many customers have reported higher satisfaction levels when using embedded payments, appreciating the convenience and speed of the process.
Omar El Gammal, EVP of Global Business Development at Paymob, highlighted the significance of this development. He stated, “The e-commerce sector in the MENA region is experiencing robust growth, particularly in the GCC countries where we operate. Market projections suggest that the region’s e-commerce market will reach $57 billion by 2026. Our new embedded payments offering, combined with our digital onboarding solutions, is designed to capitalise on this growth. We are proud to be among the first regional payment service providers to offer these innovative solutions, which will undoubtedly support MENA merchants in expanding their digital businesses.”
In addition to the embedded payment solutions, Paymob has introduced a digital merchant onboarding system aimed at facilitating the rapid setup of e-commerce stores on Shopify. This digital onboarding process streamlines various aspects of setup, including data collection, verification, and compliance checks. As a result, businesses can now launch fully operational e-commerce stores within 48 hours of completing the onboarding process. This efficient approach significantly reduces the traditional time and effort required for merchants to start accepting payments, allowing them to quickly tap into the growing digital economy.
Paymob’s latest offerings are set to empower merchants in the MENA region with cutting-edge, localised, and secure payment solutions. By integrating advanced payment technologies and improving the onboarding experience, Paymob is enhancing the overall e-commerce landscape, driving growth, and supporting the digital transformation of businesses across the region.
