Paymob, the leading financial services enabler in the Middle East, North Africa and Pakistan (MENA-P) and IKEA Egypt, a member of Al Futtaim group of companies, announce their partnership to offer customers a wider range of payment options.
This partnership will transform the checkout experience for IKEA customers in Egypt by introducing new innovative payment methods such as digital wallets, bank-offered easy payment plans (EPP) and consumer finance options, in addition to cards. This expanded selection of more flexible payment methods, powered by Paymob’s secure and trusted infrastructure, will make IKEA’s products more accessible to a greater number of consumers across Egypt.
Gillan Shaaban, Paymob’s CCO commented on the partnership, “As a trusted financial services partner, we have an established track record of enabling large global brands as well as local-home-grown businesses with the most innovative payment solutions that fuel sales and drive conversions.
We are proud that IKEA chose Paymob to power their new payment options in Egypt. By addressing the unique needs and preferences of Egyptian consumers, IKEA is positioning itself as a retailer that truly understands and caters to their customers’ needs.”
According to the Central Bank of Egypt (CBE) consumer finance is one of the fastest growing segments in the banking sector.
Bank EPPs give consumers the convenience of paying for purchases over time with monthly instalments and serve to drive financial inclusion and support economic growth. With access to bank EPPs, IKEA’s customers in Egypt will also gain greater flexibility and control over their spending, enabling them to manage their finances more effectively. This, in turn, will increase their overall satisfaction with the e-commerce experience and enhance their loyalty to IKEA.
“At IKEA, we constantly look for ways to make our products more affordable and accessible to many people, especially those who have unique financial needs. By introducing new payment options, our customers will be able to have the homes they desire with the wide range of IKEA products that offer value of money at all levels.” Thomas Sirguey, Retail Country Manager – Al Futtaim Egypt
Since its founding in Egypt 2015, Paymob has offered the largest and most comprehensive number of payment acceptance methods in North Africa.
The omnichannel payments infrastructure enables over forty online and in-store payment methods via its gateway, point of sale (POS), and Paymob app products, and enables merchants to make payments, manage their finances and grow their businesses via its real-time dashboard. The Paymob product suite is delivered by an in-house team of developers in partnership with leading banks and financial institutions.