Paymob partners with IKEA Egypt to transform checkout processes

IKEA Egypt, operated by Majid Al Futtaim, has entered a partnership with financial services enabler Paymob to improve its checkout process.

Founded in Egypt in 2015, Paymob offers a comprehensive number of payment acceptance methods in the Mena region.

Paymob’s CCO, Gillan Shaaban, said: “As a trusted financial services partner, we are proud that IKEA chose Paymob to power their new payment options in Egypt.

“By addressing the unique needs and preferences of Egyptian consumers, IKEA is positioning itself as a retailer that truly understands and caters to their customers’ needs.”

The partnership entails introducing new innovative payment methods such as digital wallets, easy payment plans and consumer finance options, in addition to traditional bank cards. 

The trusted infrastructure powered by Paymob’s security system is hoped to make IKEA’s products more accessible to a greater number of consumers across Egypt. Greater flexibility is expected to increase customer loyalty towards the brand.

On February 8, Paymob teamed up with Khazna, a financial app for Egyptians with little access to formal financial services, to enable local merchants in its network to offer Khazna’s services via their integrated point-of-sale devices to Khazna’s customers. 

Currently, the fintech currently serves 170,000 merchants in its network across the region.

Retail country manager at Al Futtaim Egypt, Thomas Sirguey, said: “At IKEA, we constantly look for ways to make our products more affordable and accessible to many people, especially those who have unique financial needs. 

“By introducing new payment options, our customers will be able to have the homes they desire with the wide range of IKEA products that offer value for money at all levels.”

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