Paymob Embarks on Next Phase of Expansion by Announcing the U.A.E. as its Regional Hub

Paymob Embarks on Next Phase of Expansion by Announcing the U.A.E. as its Regional Hub

- Company to make a sizeable investment in the U.A.E. market

- Paymob plans active support of Emiratization initiatives to foster fintech innovation

Dubai, United Arab Emirates: Paymob, the leading omnichannel payments facilitator in the MENAP region, today embarked on the next phase of its expansion plans by announcing the U.A.E. as its regional hub. This step marks an important milestone in Paymob’s global growth plans, fueled by recent Series B funding led by PayPal Ventures. Paymob plans to make a sizeable investment in the U.A.E. market over the next three years.

The expansion into the U.A.E. market will serve to empower small and medium enterprises (SMEs) and microbusinesses across the seven Emirates, with best-in-class digital payments solutions that drive growth in the digital economy.

“The U.A.E. is a dynamic ecosystem that fosters entrepreneurship and innovation, largely enabled by tremendous support from the public sector. There are currently over 400,000 businesses in the U.A.E., 61% of which are microbusinesses and 38% are SMEs. We see a massive opportunity to serve this market segment and our goal over the next three years is to empower 15% of those merchants with the latest payment technologies to fuel their growth and further digitize the economy,” said Islam