PayerMax which is a global omni-method collection and disbursement solution, has announced its launch in the MENA region.
The firm supports more than 350 local payment methods, covering Southeast Asia, South Asia, South Korea, LATAM, and now adds the MENA region to its list.
The platform engages and partners across the digital payments provider, banking, and regulatory ecosystem to support and accelerate digital payment adoption upholding the regional and national agenda of a cashless society by driving financially inclusive payment acceptance.
The senior vice president – MEA at PayerMax, Sianna Wu (below), said: “We are proud to launch PayerMax in the MENA region, deepening our local presence through private and public sector partnerships to service online merchants that have ambition beyond borders and unlock monetisation at scale across the region.”
By offering global digital merchants and Middle East Payment Institutions the ability and scale to offer localised and financially inclusive payment methods in major markets with one API, the online payment solutions company is set to change the digital payment landscape, one transaction at a time.
Sianna Wu added: “As the Middle East’s payments industry continues to evolve, PayerMax is designed to offer enhanced speed, flexibility and convenience. It is important to remember to cover payment methods that ensure maximum financial inclusivity.
“PayerMax coverage includes omni-channel payment methods beyond international and local cards including carrier billing, over 80+ e-wallets and branded payment solutions from the world’s most recognised banks and non-FI institutions.”
The GCC is set to register the fastest growth in e-commerce between 2019 and 2022, with Saudi Arabia and the UAE leading the way at 39 percent and 38 percent CAGR respectively, according to a report by CNNB Solutions.
The launch of the company in the MENA region represents a very significant milestone as it aims to unify the fragmented payments landscape to bring about a paradigm shift in user behavior and support the rapidly growing MENA digital market to unlock borderless growth.
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