PayerMax is to establish a foothold in the Middle East and North Africa (MENA) to continue its support for local payment methods; which currently extends to Southeast Asia, South Asia, South Korea and Latin America (LATAM).
The omni-method collection and disbursement solution has announced its intention to engage and partner across MENA’s rich digital payments, banking and regulatory ecosystem to hasten digital payment adoption.
By advancing financially inclusive payment acceptance, PayerMax will be upholding the regional and national cashless agenda.
“We’re proud to launch PayerMax in the MENA region, deepening our local presence through private and public sector partnerships to service online merchants that have ambition beyond borders and unlock monetisation at scale across the region,” comments Sianna Wu, senior VP MEA at PayerMax.
PayerMax’s solution allows digital merchants to offer localised payment methods through the use of a single API. The broadening of this relationship between the company and MENA’s high traffic digital apps has been poised to facilitate a wider level of financial inclusion within the region whilst upending the landscape and appetite for digital payments.
The company currently has offices set up in China, the UAE, India, Singapore and Indonesia.
The Gulf Cooperation Council (GCC) is set to register the fastest growth in e-commerce between 2019 and 2022, with Saudi Arabia and the UAE leading the way at 39 per cent and 38 per cent compound annual growth rate (CAGR) respectively; according to a report by CNNB Solutions.
“As Middle East’s payments industry continues to evolve, PayerMax is designed to offer enhanced speed, flexibility and convenience. It is important to remember to cover payment methods that ensure maximum financial inclusivity,” continues Wu.
“PayerMax coverage includes omni-channel payment methods beyond international and local cards including carrier billing, over 80 e-wallets and branded payment solutions from the world’s banks and non-FI institutions.”
PayerMax’s MENA launch aims to unify the fragmented payments landscape to bring about a paradigm shift in user behaviour whilst supporting the rapidly growing MENA digital market to unlock borderless growth.
