India-based payment aggregator CCAvenue has announced its partnership with PayPal to provide global payment acceptance solutions for businesses in the Mena region.
This partnership will allow Mena-based retailers to access the global network of 435 million active PayPal accounts across 200-plus countries, eliminating the need for a US bank account.
PayPal director for the Middle East and Africa, Mark Mwongela, said: “With this partnership, entrepreneurs and businesses across Mena can leverage PayPal’s global reach to expand their cross-border sales.”
PayPal said its partner businesses, on average, experience a 30 per cent boost.
“Furthermore, customers who use Pay Pal tend to spend around 43 per cent more money at retailers, primarily due to Pay Pal’s buyer protection and dispute settlement services, which instil confidence in their shopping experiences,” the company said.
Executive director of Infibeam Avenues, Vishwas Patel, said: With PayPal’s trusted reputation in the payments industry and its extensive global reach, this partnership opens up an array of new opportunities for growth and increased cross-border sales for Mena businesses.”
In addition to PayPal, the payment aggregator supports other payment gateways such as Mastercard/Visa credit cards, debit cards, UnionPay, Samsung Pay, Apple Pay, Payit Wallet and net banking facilities.
In March, PayPal announced its partnership with UAE-based fintech company Tap Payments to offer seamless payment options to Mena merchants.
In January, PayPal Ventures made an investment in the UAE-based shopping and financial services application Tabby.
CCAvenue is the subsidiary of Gujarat-based Infibeam Avenues which offers digital payment solutions and enterprise software platforms to businesses and governments across various verticals including real estate, education, online retail and hospitality.
