Strategic advancements in embedded finance set to transform
the payment industry
DUBAI, UAE, May 16, 2024 /PRNewswire/ -- PayerMax, a global
payments solutions provider, is participating in the Seamless
Middle East 2024 conference on May 14
-16 at the Dubai World Trade Centre. Marwan Nader, Director of Global Partnerships at
PayerMax, shared his insights at the panel titled "Financial
Services Perfectly Integrated In Our Daily Life: The Real Impact of
Embedded Finance." He highlighted the transformative potential of
embedded finance within the Middle
East and North Africa
(MENA) region's payment industry, emphasizing how it enhances user
experiences and extends financial services accessibility by
integrating into daily digital interactions.
Embedded finance integrates financial services directly into
non-financial platforms, enriching customer interactions by
providing seamless transactions. These services range from embedded
lending and insurance to savings and payments, significantly
improving the consumer journey across digital environments.
Marwan Nader noted that the MENA
region's market for embedded finance is currently valued at
$10 billion and is projected to grow
by 45% by 2030, doubling the growth rate of other global markets.
This substantial growth underscores the region's rapid adoption and
innovation in financial technologies.
As a leading global payments solutions provider, PayerMax is at
the forefront of this shift, integrating payment solutions into
merchant platforms across MENA. This integration supports a variety
of payment methods, including card payments, digital wallets, and
bank transfers directly within merchants' apps, allowing users to
make payments within the apps they already use and eliminating the
need to switch to a separate app or complete transactions
offline.
PayerMax also offers comprehensive payout solutions, enabling
merchants to disburse funds effortlessly to both consumers and
businesses through advanced application programming
interfaces (APIs).
The Triple Win of Embedded Finance
Embedded finance not only facilitates expansive growth for
financial providers but also generates new revenue streams for
fintech companies and delivers superior service offerings for
users. Most significantly, it promises a more inclusive financial
landscape by reducing the barriers for the unbanked or underserved
populations, providing them with equitable access to essential
financial services.
During the conference, PayerMax also took center stage with a
keynote presentation by Fede
Chen, Head of Global Business Development at PayerMax.
Titled "Boosting Business Globally: Beyond Payments," Chen
discussed the multifaceted challenges merchants face in emerging
markets, such as volatile exchange rates, complex tax regulations,
and nuanced consumer behaviors. He detailed how PayerMax's
comprehensive service matrix—including risk management, currency
stabilization, tax compliance, and targeted payment
marketing—supports merchants in overcoming these challenges and
driving business growth.
PayerMax's active participation at Seamless Middle East 2024
underscores the company's commitment to addressing the evolving
needs of global markets. This initiative serves as an invitation
for regional and international stakeholders to engage with
innovative financial solutions that can unlock new opportunities
and foster sustainable growth.
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