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Paymob, Chefaa partner for digitizing pharmaceutical payments in Egypt
Paymob, the leading financial services enabler in the Middle East, North Africa, and Pakistan (MENAP), partnered with Chefaa, Egypt’s GPS-enabled digital pharmacy marketplace, to digitize pharmaceutical payments in Egypt by powering seamless and secure online card payments as well as point-of-sale (POS) payments upon delivery.
Chefaa customers can also access several BNPL payment methods through Paymob’s gateway, which helps elevate the financial burden of up-front payment for medicine and healthcare products.
By driving the adoption of digital payments in the health sector and fueling online orders, the Paymob – Chefaa partnership will enable smaller pharmacies to reach a broader customer base and increase sales. The partnership also streamlines prescriptions for chronic patients who require recurring refills.
The Egyptian pharmaceutical market demonstrated robust growth in 2022 and was valued at $ 3 billion. With a projected compound annual growth rate (CAGR) of over 7% during 2022 – 2027, the market is poised to continue its upward trajectory.
This positive trend reflects the country’s increasing demand for pharmaceutical products as the population’s healthcare needs grow. The steady expansion of the Egyptian pharmaceutical market presents promising opportunities for pharmaceutical companies operating in the region.
Gillan Shaaban, CCO of Paymob commented, “We are thrilled to partner with Chefaa as we see a massive opportunity to fuel the growth of e-pharmacies and online medicine orders in Egypt via access to Paymob’s cutting-edge payment solutions. The sector is ripe for innovation and our partnership with Chefaa will enhance customer experiences and drive digital adoption in the marketplace. It’s a win-win for the ecosystem.”
Dr. Rasha Rady, COO & Co-founder of Chefaa stated, “In alignment with Chefaa vision to safely digitize an industry that directly serves patients’ health welfare, this partnership with Paymob is a significant milestone in our comprehensive approach to patient care. By empowering patients with a digital payment solution that is designed with their unique needs in mind, we aim to ease patients’ worries, foster trust, and build lasting relationships based on compassion and support while leading innovation in our sector.”
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