Pay and Payfort to Develop MENA Fintech in Joint Effort
Payfort an online payment service provider in the Arab world, and fintech startup Pay announced Pay team will now be part of PayFort. The two will be working together to facilitate secure e-payments in the Arab region.
E-commerce is currently a booming industry, specially in the Arab region. Back in 2014, Online Shopping Behavior Studies conducted by Mastercard revealed the increasing popularity of online shopping in Arab countries. Now, the market is growing faster than ever. While the numbers of online shoppers is on the rise, consumers report their primary concern is safety. The rapid growth of the e-market in the Arab world creates a high demand for secure and easily operated payment models. PayFort, now collaborating with Pay promises to deliver just what the industry needs.
Pay is a fast, easy way for merchants to send invoices and receive money online from their customers. Merchants can serve customers invoices as per customer preference. Customers can choose between call centers, SMS or social media, such as Twitter, Instagram and Snapchat. Customers are given a unique URL and invoice payment code, and can pay using SADAD, credit card or bank transfer.
“The region’s payment industry is fast-developing and, as it moves from cash society to cashless society, there are a lot of opportunities for developers in the fintech ecosystem. PAYFORT is always on the lookout for innovation and ways to embrace new innovations that complement our services,” said Omar Soudodi, Managing Director of PAYFORT. “The team at Pay has developed some great solutions to help merchants simplify customer online payments and offer customers options via social media and other online channels. We are very excited to be welcoming Pay team into our PayFort family and look forward to working together to build products that further streamline online payments in the region.”
“Consumers want to be able to deal with businesses via the platforms that are the most familiar to them and, these days, that might be Twitter or Instagram, or even Snapchat,” said Abdulaziz Homaily, co-founder of Pay. “Pay opens up communication channels for merchants allowing them send invoices via social media. By joining PayFort we will be able to develop and grow Pay services faster, helping more merchants to improve customer experience and conversion rates.”
PayFort works towards making payments safe and secure for buyers and sellers across the Arab world, offering a complete suite of payment solutions that are tailored to Arab online buying habits and trends. PayFort e-payment solutions can also be catered to any small to medium enterprise (SME).
“PayFort is and has always been right, left and center in leading the fintech industry in the region. We’re very excited to join forces and provide even better services to more merchants,” said Mutaz Ghuni, co-founder of Pay. PayFort is the payment platform for some of the leading e-commerce websites across the Arab world — such as Souq.com, Dubizzle.com, Landmark, BEIN Sports, Etihad Airways, Ticketmaster, Air Arabia, and Talabat.com.
Pay and Payfort to Develop MENA Fintech in Joint Effort - E-commerce is currently a booming industry, specially in the Arab region. Back in 2014, Online Shopping Behavior Studies conducted by Mastercard revealed the increasing popularity of online shopping in Arab countries./10