Paymob and Chefaa lead digital transformation of pharma retail payments in Egypt

Paymob, the leading financial services enabler in the Middle East, North Africa, and Pakistan (MENAP), and Chefaa, Egypt’s GPS-enabled digital pharmacy marketplace announce their partnership to power the digital transformation of pharmaceutical payments in Egypt.

The partnership will digitize pharmaceutical payments by powering seamless and secure online card payments as well as point-of-sale (POS) payments upon delivery. Chefaa customers can also access several BNPL payment methods through Paymob’s gateway, which helps elevate the financial burden of up-front payment for medicine and healthcare products.

By driving the adoption of digital payments in the health sector and fueling online orders, the Paymob –  Chefaa partnership will enable smaller pharmacies to reach a broader customer base and increase sales. The partnership also streamlines prescriptions for chronic patients who require recurring refills.

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, the market is poised to continue its upward trajectory. This positive trend reflects the country's increasing demand for pharmaceutical products as the population's healthcare needs grow. The steady expansion of the Egyptian pharmaceutical market presents promising opportunities for pharmaceutical companies operating in the region.