Challenge

Based in the UAE, Mamo helps individuals and small and medium enterprises (SMEs) get paid. Because banks in the region face complexity around sharing or transferring money—especially between friends and family—Mamo set out to provide an easier method to make digital payments. As the web app gained popularity, Mamo needed a partner that prioritized reliability and security.

Solution

With a reputation for reducing onboarding complexity and friction for its customers, Stripe caught the attention of Mamo. Mamo built the Mamo Wallet and app with Stripe so its customers could quickly and securely send, receive, and request money directly from friends and family using just their mobile phone number. Utility bills can also be paid using the app.

“The Stripe product lends itself to automation for Mamo’s APIs, and the Stripe documentation was a significant help when it came to integrating,” said Asim Janjua, founder and chief experience officer at Mamo.

Mamo also launched Mamo Pay for Business, a simple way for SMEs to create a unique link to collect customer payments that are automatically transferred to a business bank account. Stripe’s reconciliation APIs allow Mamo to easily manage payouts to its merchants. Mamo has since seen a 75% reduction in time needed for reconciliation and a 30% reduction in engineering time spent on support tickets.

Results

Since integrating Stripe, Mamo has seen a 5% increase in payment conversion and a boost in platform uptime from 98% to 99.999%.

Stripe Radar has reduced fraud dispute rates to 0.2%, down from 1%. Mamo can now set risk thresholds that ensure a smoother experience for customers and better data for Mamo; as a result, Mamo onboards new customers faster with less risk.

The enhanced efficiency facilitated by Stripe API automation has led to a 75% reduction in time spent on reconciliation, and engineering time on support tickets has decreased by 30%. The Stripe Dashboard also gives the Mamo support team the visibility to troubleshoot issues, which lightens the load for the product and engineering teams.

Mamo plans to expand into other countries in the Gulf Cooperation Council and the Middle East/North Africa region and launch its own Mamo card, which can connect to Google Pay or Apple Pay and enhance diversity and versatility in new markets.