Cairo, Egypt: X-ERA Egypt, one of the Middle East’s leading providers of fintech and logistics solutions, and Paymob, the leading financial services enabler in the MENA-P region, announced today that they have signed a partnership agreement to digitize 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 card, digital wallet and other types of payments from Paymob’s offering on the X-ERA app will now be seamlessly and securely processed through Paymob’s gateway. This partnership will digitze 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 digitize 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 getting a huge assortment of goods and FMCG products very easily via smart phones around the clock, while helping them raise business efficiency and operation volume, and contribute to fast-track digitalization of E-commerce in informal FMCG market.
Gillan Shaaban, Paymob 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. ”
X-ERA for Digital Business Solutions is an UAE company based, working in retail and logistics digitalization field, to invest in the digital business solutions in different sectors. X-ERA re-develops informal market using innovative business solutions and enabling technologies designed to fit all the needs of SME merchants in all the areas it serves. Its technology-enabled supply chain service is helping and getting the right product, in the right quantity, in the right condition, at the right place, at the right time, to the right customer, at the right price. X-ERA announced recently it has acquired Speed Store, the Egyptian E-commerce platform, to develop it and change its corporate identity in the coming period, to be closer to its customer base and to reflect the value-added X-ERA is aiming to put in Speed Store, to help SME grocers and merchants.
Since its founding in Egypt 2015, Paymob has offered its merchants the most comprehensive payment acceptance methods. Today, Paymob’s omnichannel payments infrastructure enables over forty online and in-store payment methods via its gateway, point of sale (POS), and Paymob app products. The fintech currently serves 170,000 merchants in its network and makes the process of growing a business in the digital economy simple, seamless and agile, by delivering best-in-class financial technology products to merchants of all sizes.