Paymob, the leading omnichannel payments facilitator in the MENAP region announced the next phase of its expansion plan by making UAE as its regional hub.
The expansion in the UAE market will serve to empower small and medium enterprises (SMEs) and microbusinesses across the country, with digital payment solutions that drive growth in the digital economy.
Paymob is set to make a sizeable investment in the UAE market, the company’s global growth plans are duelled by recent series B funding led by PayPal ventures.
“The UAE 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 UAE, 61 percent of which are microbusinesses and 38 percent are SMEs,” said Islam Shawky, CEO and Co-founder of Paymob.
“We see a massive opportunity to serve this market segment and our goal over the next three years is to empower 15 percent of those merchants with the latest payment technologies to fuel their growth and further digitise the economy,” he added.
Paymob has appointed seasoned Emirati financial services professional, Omar Haddad as its General Manager for the GCC based in the UAE, who will grow and lead a team of over 150 employees in the market.
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