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Paymob Partners With Tamara For Seamless BNPL Payments
The partnership is designed to fuel the growth of small and medium-sized enterprises across the MENA region.
Leading MENA financial services enabler, Paymob has announced a new partnership with Tamara, the GCC region’s premier shopping and payments platform.
The strategic venture integrates Tamara’s Buy Now Pay Later (BNPL) service with Paymob’s secure payment gateway, allowing customers to split payments without hidden fees or interest. Paymob’s infrastructure is already used by 250,000 merchants across the MENA region and Pakistan, while Tamara boasts over nine million registered users and 30,000+ merchants.
Although the two companies already have partnerships with some of the region’s best-known brands, the new agreement is designed to fuel the growth of small and medium-sized enterprises. With Tamara’s BNPL solution, merchants typically improve conversions by 15% and gain a 40% increase in average order value. In addition, the likelihood of a customer making repeat purchases climbs by 50%.
The integration of Tamara’s BNPL solution to Paymob’s eCommerce gateway works via a simple software upgrade. The service will initially roll out to merchants in the KSA and UAE in its first phase, with more countries added in future stages.
Islam Shawky, Co-founder and CEO of Paymob explained that “[the] partnership with Tamara delivers on Paymob’s mission to fuel SME growth in the digital economy. There is a massive opportunity to enable merchants in the GCC to capitalize on the power of alternative payment methods, and we are thrilled to partner with Tamara to fuel this growth in MENA”.
Also Read: A Guide To Digital Payment Methods In The Middle East
Turki Bin Zarah, Co-founder and CCO of Tamara, added, “This partnership with Paymob provides seamless access to Tamara’s services to thousands of SMEs to enable their growth across the region. As a leading commerce enabler, we are revolutionizing how people shop, pay, and bank and are thrilled to partner with Paymob as we deliver on this goal”.
Tamara and Paymob are currently experiencing rapid growth after recent funding rounds. Riyadh-based Tamara secured a $150 million investment from Goldman Sachs, while Paymob’s growth has been driven by funding from PayPal Ventures.
News
Joby To Establish All-Electric Air Taxi Ecosystem Across The UAE
The comprehensive agreement with Abu Dhabi’s government includes a training program, infrastructure development, and a manufacturing presence.
All-electric aircraft company Joby Aviation has secured three separate agreements with departments of Abu Dhabi’s government that lay the groundwork to develop and scale air taxi services in the Emirate and beyond.
The deal was signed at the recent DRIFTx thought-leadership and exhibition platform and gave Joby exclusive rights to not only operate air taxi services in Dubai but also unlock inter-emirate services between Abu Dhabi.
Joe Ben Bevirt, founder and CEO of Joby Aviation, said: “Today’s agreement demonstrates the incredible momentum behind the adoption of clean flight across the UAE. We’re looking forward to delivering a fantastic experience for our future customers in Abu Dhabi and we’re excited to be unlocking the potential for zero-emissions flight between Abu Dhabi and Dubai. We’re grateful for the support and collaboration of our governmental partners and the entire ecosystem in Abu Dhabi and we remain deeply impressed by their commitment to building out a world-class aviation ecosystem in the Emirate”.
Joby’s all-electric aircraft went on display for the first time in Abu Dhabi’s Yas Marina at the DRIFTx event. The air taxi is designed to carry a pilot and four passengers and can reach speeds of 200 miles per hour (321 km/h). The zero-emission craft is said to have an extremely low acoustic footprint and can travel a maximum of 100 miles (161 km) on a single charge.
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Once operational, Joby’s air taxi fleet would enable fast, clean travel across the UAE, with journeys between Abu Dhabi to Dubai taking just 30 minutes compared with two hours by car during peak times.
Joby continues to work closely with the UAE’s General Civil Aviation Authority (GCAA) to help the Emirates become a world leader in the introduction of air taxis. Additional testing and analysis will be required before inter-emirate travel becomes a reality, but the cutting-edge technology already appears to have great potential.
Joby To Establish All-Electric Air Taxi Ecosystem Across The UAE
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