News

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.

Published

10 months ago

January 9, 2024

Nour Nasir

Paymob

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

HiFuture Wraps Up Successful GITEX GLOBAL 2024 Appearance

The electronics company wowed audiences at the world’s largest tech event with a range of wearable and smart audio devices.

Published

1 day ago

October 21, 2024

Nour Nasir

hifuture wraps up successful gitex global 2024 appearance

This year’s GITEX GLOBAL 2024 in Dubai saw a huge number of startups, electronics firms, and innovators from around the globe gather for the tech sector’s largest event of its kind. One company making waves at this year’s expo was Chinese tech group HiFuture, which showcased a range of products with a focus on wearable technology and smart audio.

At the HiFuture booth, the company captivated attendees with cutting-edge smartwatches like the ACTIVE and AURORA, along with a range of powerful wireless speakers, earbuds, and even smart rings. Visitors were eager to check out the sleek new designs on offer and even had the chance to test out some of the products themselves.

hifuture gitex global 2024 dubai

Among the highlights were smartwatches combining dual-core processors with customizable options. The devices blended style and technology, offering health monitoring capabilities, personalized watch faces, and advanced AI-driven functionalities, giving attendees a taste of the future of wearable technology.

On the audio front, HiFuture’s wireless speakers left a lasting impression, offering rich, immersive sound in compact, portable designs. These speakers cater to both intimate gatherings and larger celebrations, offering versatility for users. Meanwhile, the company also showed off its Syntra AI technology, which it claims “revolutionizes health and fitness tracking by combining advanced optical sensors with intelligent algorithms for precise, real-time insights”.

Also Read: How (And Why) To Start A Tech Business In Dubai

The presence of HiFuture’s leadership team at GITEX 2024 underscored the importance of this event for the company, with CEO Levin Liu leading a team of executives, all keen to engage with attendees and offer insights into HiFuture’s vision, product development process, and future direction.

Overall, it seems that GITEX GLOBAL 2024 has been a rewarding experience for HiFuture. The enthusiasm and curiosity of attendees shown to the company’s diverse range of products was obvious, with the HiFuture team leaving on a high note and clearly excited and motivated by the event.