Paymob has partnered with GPS-enabled digital pharmacy marketplace, Chefaa to digitise pharmaceutical payments in Egypt.
In a statement, the companies said the deal will help power more seamless online card payments as well as point-of-sale (POS) payments upon delivery. It will also give Chefaa customers access to several BNPL payment methods through Paymob’s gateway,
The partnership is aiming to reduce the financial burden of up-front payment for medicine and healthcare products and enable smaller pharmacies to reach a broader customer base through increased adoption of digital payments. Significantly, the companies said it will also enable the industry to streamline prescriptions for chronic patients who require recurring refills.
Gillan Shaaban, CCO of Paymob said, “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. The sector is ripe for innovation and our partnership with Chefaa will enhance customer experiences and drive digital adoption in the marketplace. It’s a win-win for the ecosystem.”
The Egyptian pharmaceutical market demonstrated robust growth in 2022 and was valued at USD 3 billion. With a projected compound annual growth rate (CAGR) of over 7% during 2022 – 2027, it is poised to continue its upward trajectory; a trend that reflects the country’s increased demand for pharmaceutical products as the population’s healthcare needs grow. On the back of further expansion, opportunities for pharmaceutical companies operating in the region are also likely to increase.
Dr. Rasha Rady, COO & Co-founder of Chefaa added, “In alignment with Chefaa vision to safely digitise an industry that directly serves patients’ health welfare, this partnership with Paymob is a significant milestone in our comprehensive approach to patient care. By empowering patients with a digital payment solution that is designed with their unique needs in mind, we aim to ease patients’ worries, foster trust, and build lasting relationships based on compassion and support while leading innovation in our sector.”
