Payments firm PayerMax has launched in the Middle East and North Africa. The Singapore-headquartered company supports more than 350 local payment methods, covering Southeast Asia, South Asia, South Korea, Latin America, and now MENA.
PayerMax will accelerate digital payment adoption, driving financially inclusive payment acceptance.
“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. 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,” said Sianna Wu, Senior Vice President for the MEA at PayerMax.
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.
E-payments are on the rise across the Middle East and North Africa region. Ninety-five percent of MENA consumers are likely to consider using at least one emerging payment method in the next year, a 2021 study from payment giant Mastercard found.
