Paymob, the leading financial services enabler in the Middle East, North Africa, and Pakistan (MENAP) has forged a partnership with Chefaa, Egypt’s GPS-enabled digital pharmacy marketplace, to power the digital transformation of pharmaceutical payments in Egypt.
Chefaa and Paymob hope to digitise pharmaceutical payments by powering seamless and secure online card payments as well as point of sale (POS) payments upon delivery. As a result, Chefaa customers will also be able to access several BNPL payment methods through Paymob’s gateway – reducing 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 and 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.
With a projected compound annual growth rate (CAGR) of over seven per cent between 2022 and 2027, the market appears 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.
Ultimately, the partnership will drive the adoption of digital payments in the healthcare sector, benefiting both customers and pharmacies. By embracing Paymob’s technology, Chefaa enables customers to settle their payments online, eliminating the need for traditional payment methods. This not only enhances the convenience for customers but also improves efficiency, accuracy, and overall operational effectiveness for Chefaa pharmacy owners.
‘A win-win for the ecosystem’
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”.
Paymob’s omnichannel payments infrastructure powers over 40 online and in-store payment methods via its gateway, point of sale (POS) devices, and mobile app soft POS. The regional fintech also enables merchants to pay bills, manage their finances and grow their businesses via a real-time dashboard.
Dr Rasha Rady, COO and co-founder of Chefaa, also discussed the partnership: “In alignment with Chefaa vision to safely digitise 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”.
Chefaa currently empowers over 900,000 people monthly to live healthier and happier and connects them with over 1200 pharmacies to meet their pharmaceutical and non-pharmaceutical needs. By leveraging cutting-edge technology, Chefaa aims to provide seamless access to essential healthcare products and services and personalised support for patients.