Karachi-based e-commerce platform Webx has partnered with Paymob to launch Webx Pay, a payment service that integrates seamlessly with e-commerce stores hosted on Webx.
Tell me more: Webx is an e-commerce platform that enables businesses and independent retailers to create online shops. Businesses can sell, market, and ship their products worldwide.
Paymob provides payment solutions to empower financial service providers throughout Africa and the Middle East as an infrastructure technology enabler.
With this partnership, online businesses in Pakistan can process payments immediately after creating their digital stores on Webx and enabling Webx Pay.
With Webx Pay, businesses can easily process online payments in seconds through digital wallets, credit cards, or bank transfers.
Make me care: It takes Pakistani e-commerce businesses 4 to 6 weeks to set up a merchant account to accept online payments.
Payment acceptance methods are complicated, long-winded, and reliant on legacy financial infrastructure.
As a result of this partnership, Pakistani e-commerce businesses can create merchant accounts same-day without recurring fees or setup costs. Additionally, Webx Pay makes sure businesses get their money the next day.
You should know: Webx was founded in 2013 by Syed Waleed Masood and Fraz Saleem.
Zoom out: E-commerce makes up a small but rapidly growing portion of Pakistan’s overall retail market, estimated to be worth $2.1 billion in 2020 and growing at 20% per year.
Webx Pay instantly provides merchants multiple payment options and ease of accepting payments, empowering them to drive e-commerce growth in Pakistan.