PayerMax, a global omni-method collection and disbursement solution, announced on Tuesday its launch in the Middle East region.
The company supports more than 350 local payment methods, covering Southeast Asia, South Asia, South Korea, Latin America (LATAM), and now the Middle East.
Leveraging its unified omni-method payment solution, PayerMax is set to engage and partner across the digital payment provider, banking and regulatory ecosystem to support and speed up digital payment adoption upholding the regional and national agenda of a cashless society by driving financially inclusive payment acceptance.
“We are 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 monetization at scale across the region.” Sianna Wu, Senior Vice President – MEA, PayerMax, said.
By offering global digital merchants and Middle East Payment Institutions the ability and scale to offer localised and financially inclusive payment methods in major markets with one API, PayerMax is expected to change the digital payment landscape, one transaction at a time.
“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.” Sianna Wu added.
“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 most recognized banks and non-FI institutions.”
The 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 percent and 38 percent CAGR respectively, according to a report by CNNB Solutions.
The launch of PayerMax in the Middle East region represents a very significant milestone as it aims to unify the fragmented payments landscape to bring about a paradigm shift in user behavior and support the rapidly growing MENA digital market to unlock borderless growth.