IKEA Egypt chooses Paymob to power new payment options

MENA-based financial services enabler Paymob has partnered with IKEA Egypt to offer the retailer’s customers a wider range of payment options at checkout.

Through the new partnership, IKEA customers in Egypt will be able to pay with digital wallets, bank-offered easy payment plans (EPP) and consumer finance options, in addition to cards, powered by Paymob.

Bank EPPs enable consumers to pay for purchases over time via monthly instalments.

The Central Bank of Egypt has previously said that consumer finance is one of the fastest growing segments in the banking sector.

Gillan Shaaban, Paymob’s chief commercial officer, said: “As a trusted financial services partner, we have an established track record of enabling large global brands, as well as local-home-grown businesses, with the most innovative payment solutions that fuel sales and drive conversions.

“We are proud that IKEA chose Paymob to power their new payment options in Egypt.”

Shaaban added: “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.”

Since its inception in 2015, Egypt-based Paymob’s omnichannel payments infrastructure has grown to enable more than 40 online and in-store payment methods via its gateway, point of sale, and Paymob app products. In 2021, Paymob launched in Pakistan.

Home furnishing retailer IKEA Egypt is a member of the Al Futtaim group of companies.

Thomas Sirguey, retail country manager at Al Futtaim Egypt, 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 of money at all levels.”