Riyadh - Sharikat Mubasher: Paymob, the leading financial services provider in the Middle East and North Africa (MENA) region, and Egypt’s premier e-commerce platform for furniture Homzmart signed a memorandum of understanding (MoU) to expand their partnership and explore growth opportunities in Saudi Arabia, UAE, and Oman.
This MoU aims to accelerate the digital transformation of Egypt’s furniture retail sector, a recent statement unveiled.
Through this MoU, furniture merchants will be equipped with advanced payment solutions to enhance customer experiences and drive sales, laying the groundwork for joint regional expansion across the GCC and leveraging Homzmart's role as a leading online furniture marketplace and Paymob's secure, innovative payment solutions.
This collaboration, which started in 2021, supports Homzmart's mission to highlight local manufacturers and aligns with both companies' shared vision for regional growth, paving the way for new e-commerce innovations and expansion opportunities across the GCC.
Gillan Shaaban, CCO of Paymob, stated that the MoU marks an exciting new chapter in the company’s longstanding partnership with Homzmart, expanding its vision for the digitization of Egypt’s furniture sector.
“With 70% of furniture sales still transacted in cash, we’re leading the shift to digital payments adoption, enabling merchants to meet customer demand for flexible options like BNPL and consumer finance, while creating new opportunities for joint regional expansion and cross-border success,” Shaaban added.
Meanwhile, Mohamed Shalaby, CCO of Homzmart commented: “With a focus on user-friendly design and accessibility, Homzmart is creating a more inclusive market, making quality furniture available to a broad spectrum of customers nationwide. This dedication not only elevates the customer experience but also establishes a new benchmark for digital furniture retail in the region.”
Paymob’s omnichannel gateway offers more than 50 payment solutions and empowers close to 350,000 merchants with access to innovative financial services.