Paymob and Chefaa Lead Digital Transformation of Pharma Retail Payments in Egypt

·       Partnership to Offer Enhanced Payment Solutions and Convenience

·       Customers Benefit from Streamlined Transactions and Secure Payment Experiences

·       Collaboration Will Drive Innovation and Fuel the Growth of E-Pharmacies

CAIRO, EGYPT June 20, 2023– Paymob, the leading financial services enabler in the Middle East, North Africa, and Pakistan (MENAP), and Chefaa, Egypt’s GPS-enabled digital pharmacy marketplace announce their partnership to power the digital transformation of pharmaceutical payments in Egypt.

The partnership will digitize pharmaceutical payments by powering seamless and secure online card payments as well as point-of-sale (POS) payments upon delivery. Chefaa customers can also access several BNPL payment methods through Paymob’s gateway, which helps elevate 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 –  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.

The Egyptian pharmaceutical market demonstrated robust growth in 2022 and was valued at USD 3 billion. With a projected compound annual growth rate (CAGR) of over 7% during 2022 – 2027, the market is 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. The steady expansion of the Egyptian pharmaceutical market presents promising opportunities for pharmaceutical companies operating in the region.

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.”

Dr. Rasha Rady, COO & Co-founder of Chefaa stated, “In alignment with Chefaa vision to safely digitize 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.”

Paymob serves as a growth partner to over 200,000 merchants in its network across MENA-P by ensuring they have access to the most cutting-edge financial technology solutions available, tailored to meet their needs at any stage of their growth. Paymob’s omnichannel payments infrastructure powers over forty 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.

Chefaa empowers over 900K people monthly to live healthier and happier and connects them with +1200 pharmacies to meet their pharmaceutical and non-pharmaceutical needs. By leveraging cutting-edge technology, Chefaa aims to revolutionize the healthcare industry by providing seamless access to essential healthcare products & services and personalized support for patients.

The partnership between Paymob and Chefaa will drive adoption of digital payments in the healthcare sector, benefiting both customers and pharmacies. By embracing Paymob’s technology, Chefaa enables customers to easily 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.