In a significant move to bolster the regional e-commerce ecosystem, electronic payments specialist Paymob has announced a strategic partnership with logistics platform SIDEUP. This collaboration is set to equip thousands of online merchants in Egypt and the wider region with advanced digital payment solutions and flexible installment options. The initiative aims to streamline financial transactions, enhance the customer checkout experience, and empower small and medium-sized enterprises (SMEs) to scale their operations effectively.
Enhancing E-commerce Capabilities
The agreement grants SIDEUP's extensive network of over 3,000 online stores direct access to Paymob’s comprehensive suite of secure payment gateways. A key feature of this integration is the introduction of flexible installment plans, a critical tool for increasing consumer purchasing power and driving higher sales conversion rates. This enhancement is strategically designed to elevate the end-user experience, improve cart completion, and help merchants expand their customer base.
A Strategic Vision for Growth
Waleed Rashed, CEO of SIDEUP, highlighted that the collaboration reflects the company's ongoing commitment to delivering innovative and integrated solutions for its clients. He emphasized that facilitating modern electronic payment options is crucial for empowering SMEs to navigate the competitive and rapidly accelerating e-commerce market. This move reinforces SIDEUP's core mission of providing businesses with the essential tools they need to grow and succeed regionally.
From Paymob's perspective, the partnership is a key component of its strategy to broaden its integrated payments ecosystem across the Middle East and North Africa. Co-founder and CEO Islam Shawky noted that offering versatile payment solutions is now essential to meet evolving consumer behaviors and expectations. This collaboration allows Paymob to embed its financial technology within a vital logistics network, thereby extending its market reach and impact.
Powerhouses in Regional Tech
Founded in 2019, SIDEUP has quickly established itself as a central logistics hub, aggregating over 25 shipping partners, including industry giants like Aramex and DHL. The company expanded into Saudi Arabia in 2022 before moving its headquarters to Riyadh, offering a full spectrum of e-commerce services from warehousing to fulfillment. Its impressive growth is supported by notable investors such as 500 Startups and Launch Africa VC.
Paymob, established in 2015, stands as a dominant force in the regional fintech space, serving over 390,000 merchants with more than 60 distinct payment methods. The company maintains a significant presence across the Middle East, North Africa, and Pakistan, backed by major global investors like PayPal Ventures and Kora Capital. Its recent expansion into Saudi Arabia, after securing a local license, underscores its ambitious and successful growth trajectory.
This partnership between Paymob and SIDEUP marks a significant milestone in the convergence of financial technology and e-commerce logistics within the MENA region. By combining streamlined payments with robust fulfillment services, the collaboration delivers a powerful, unified solution that directly addresses the needs of online merchants. It ultimately fosters a more resilient and competitive digital economy driven by the innovation of small and medium-sized businesses.