Paymob, the leading financial services enabler in the MENAP region, has joined forces with Chefaa, Egypt’s GPS-enabled digital pharmacy marketplace, to revolutionize pharmaceutical payments in Egypt.
In order to drive the digital transformation of pharmaceutical payments in Egypt, Paymob, the top financial services enabler in the Middle East, North Africa, and Pakistan (MENAP), has partnered with Chefaa, Egypt’s GPS-enabled digital pharmacy marketplace.
By enabling quick and secure online card payments as well as point of sale (POS) payments at the moment of delivery, Chefaa and Paymob want to digitize the payment process for pharmaceuticals. Chefaa customers will now have access to a number of BNPL payment options via Paymob’s gateway, which will ease the financial strain of upfront payments for prescription drugs and healthcare supplies.
The Paymob and Chefaa alliance will make it possible for smaller pharmacies to reach a larger consumer base and boost sales by promoting the adoption of digital payments in the healthcare industry and igniting online orders. The collaboration also makes prescribing easier for chronic patients who need reoccurring refills.
The market is anticipated to develop at a compound annual growth rate (CAGR) of over 7% between 2022 and 2027, suggesting that it will continue to rise. This encouraging development shows the nation’s rising demand for pharmaceutical goods as the need for healthcare among the populace rises.
In the long run, the cooperation will promote the use of digital payments in the healthcare industry, which will be advantageous to both customers and pharmacies. Chefaa gives consumers the option to settle their payments online without the need of conventional payment methods by integrating Paymob’s technology. This improves productivity, accuracy, and overall operational efficacy for Chefaa pharmacy owners in addition to increasing client convenience.
“A win-win situation for the ecosystem”
“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,” said Gillan Shaaban, CCO of Paymob. The industry is ready for innovation, and our collaboration with Chefaa will improve consumer experiences and accelerate market acceptance of digital technology. Ecosystem benefits from this situation.
Over 40 online and in-store payment options are supported by Paymob’s omnichannel payments infrastructure through its gateway, point of sale (POS) hardware, and mobile app soft POS. A real-time dashboard provided by the local fintech helps retailers to pay their invoices, manage their money, and expand their businesses.
Chefaa’s COO and co-founder, Dr. Rasha Rady, also said on the collaboration: “This partnership with Paymob is a key milestone in our all-encompassing approach to patient care. It is in line with Chefaa’s vision to safely digitise an industry that directly supports patients’ health welfare. We want to reduce patients’ concerns, promote trust, and create enduring relationships based on compassion and support while leading innovation in our industry. To do this, we provide patients with a digital payment solution that is created with their specific needs in mind.
Chefaa presently connects more than 900,000 people each month with more than 1200 pharmacies to take care of their pharmaceutical and non-pharmaceutical requirements, empowering them to live healthier and happier lives. Chefaa aspires to offer seamless access to necessary healthcare products and services as well as individualized patient support by utilizing cutting-edge technology.