MENAP-leading Paymob, Chefaa to bolster pharma retail payments in Egypt

MENAP-leading Paymob, Chefaa to bolster pharma retail payments in Egypt

Paymob, the leading financial services enabler in the Middle East, North Africa, and Pakistan (MENAP), teamed up with Egypt’s GPS-enabled digital pharmacy marketplace Chefaa to foster the digital transformation of pharmaceutical payments in the country. The partnership will digitise pharmaceutical payments and secure online card payments as well as point of sale (POS) payments upon delivery, according to a press release. Moreover, Chefaa customers can access various buy now, pay later (BNPL) payment methods through Paymob’s gateway, which helps lift the financial burden of up-front payment for medicine and healthcare products. The collaboration will boost the adoption of digital payments in the healthcare sector, which in turn will benefit both customers and pharmacies. It will also allow smaller pharmacies to reach a wider customer base and increase sales. Meanwhile, the Egyptian pharmaceutical market witnessed robust growth in 2022 and was valued at $3 billion. The market is forecast to continue its upward trajectory with a projected compound annual growth rate (CAGR) of more than 7% during the years from 2022 to 2027. , noted: “ Shaaban added. stated: Last March, Paymob to endorse video-on-demand services in the Egyptian market.