PayerMax, a leading digital payment solutions provider, successfully participated as a gold sponsor at Seamless Middle East 2023, held on 23-24 May. The company seized the opportunity to exhibit its innovative payment solutions and share industry expertise with peers in the region. Essay Zhu, Chief Operating Officer at PayerMax, delivered a keynote address at the event, focusing on the role of digital payments in shaping a cashless society in the MENA region.
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During her presentation, Essay Zhu emphasized the transformative impact of PayerMax’s digital payment solutions on the Middle East’s payment landscape. She discussed the ambitious goals and visions of countries in the region, including Saudi Arabia, Bahrain, the UAE and Egypt, to foster a more inclusive, secure and sustainable financial ecosystem. Saudi Arabia aims to achieve a 70% non-cash transaction rate by 2030, while Bahrain’s Economic Vision 2030 envisions a fully cashless society. The UAE’s Smart Dubai Strategy focuses on digitizing government services, including the development of the Central Bank Digital Currency (CBDC) – the Digital Dirham. Egypt has also taken proactive measures to reduce risks associated with digital payments through the development of national payment systems and supervised frameworks.
As part of the event, PayerMax presented the “Best Payments Experience” award to Saudi Payment, the Instant Payment System owned by the Saudi Central Bank (SAMA). This recognition highlights PayerMax’s commitment to driving the adoption of digital payments and collaborating with industry partners to enhance the payment experience in the MENA region.