The Middle East has been witnessing a sharp growth in its ecommerce space recently, owing to multiple factors. For one, smartphone penetration, which was pegged at 97% in 2019 as per a Deloitte survey, has only improved with time. Moreover, millennials are increasingly going online to shop for everything from groceries and gadgets to clothes and jewelry. In fact, sectors like fashion, appliances, furniture, and electronics are doing exceptionally well in the world of ecommerce. The recent health crisis also turned the spotlight on the convenience and flexibility of digital transactions. So, it really doesn’t come as a surprise that by this year’s end, UAE’s total ecommerce revenue is expected to cross $10 billion. In fact, globally, UAE is the 27^th largest ecommerce market today, closely followed by Saudi Arabia at the 28^th position.

And now, to further disrupt the ecommerce space and introduce both merchants and customers to exciting possibilities, fintech leaders like PayTabs and Tabby have joined hands. The intent is to enhance the shopping experience while helping businesses grow, expand, and reap more profits. So, let’s decode what’s in store.

A Closer Look at the Fintech Giants

Tabby

Since its inception in 2019, Tabby has quickly emerged as the go-to app for financial services and shopping in the MENA region. Its key aim is to help customers buy what they want without compromising their financial stability, and in fact, saving wherever possible.

• Till date, over 30,000 businesses, both big and small, have leveraged the app to offer shoppers flexible payment options online and in stores.
• Top brands such as IKEA, Adidas, H&M, SHEIN, and Bloomingdale’s have managed to boost sales and improve customer loyalty through Tabby.
• Across Saudi Arabia, UAE, Kuwait, Bahrain, and Qatar, more than 10 million registered shoppers are making the most of this app.
• Tabby is valued at $660 million currently, based on the most recent round of funding received from Sequoia Capital, PayPal Ventures, Endeavor Catalyst, Arbor Ventures, and others.

PayTabs

PayTabs is an award-winning provider of innovative financial services. As a business owner, if you want to create or strengthen your digital identity and stay competitive, capitalize on PayTabs’ payment solutions.

• You can receive payments safely and efficiently from any part of the world and on time. You can reach out to new geographies and accept multiple currencies as well.
• PayTabs’ unified payment processing orchestration system has been helping industries like hospitality, travel, education, and government, to revolutionize transactions.
• You can choose from a wide array of solutions, including point-of-sale management, 3D secure payments, social media payments, prepaid card management, B2B payments, and more.
• With PayTabs, you get a powerful payment gateway and can easily handle dashboards, integrations, digital invoicing, QR codes, recurrent billing, etc.
• The payments leader has carved a special niche not only in Saudi Arabia and UAE, but also Jordan, Egypt, and Turkey.

The Partnership Will Benefit Merchants Immensely

The PayTabs and Tabby collaboration will allow online businesses in UAE and Saudi Arabia to offer more flexibility and choice to customers. Tabby already has a split payment solution in place that allows shoppers to enjoy a Buy Now Pay Later (BNPL) model. Customers can divide the entire bill into four components and pay them off one by one over a comfortable period of time. So, when merchants who are already using PayTabs get started with Tabby, the latter will show up as one of the payment options when it’s time for a shopper to check out.

By embracing Tabby, businesses can attract more traffic to their site and encourage even casual visitors to convert into paying customers. Total purchase value will also increase for most customers as they won’t feel pressured to pay for it all in one go. By integrating the PayTabs gateway with Tabby, merchants can also reach out to those who are usually on a tight budget yet aspire to own top-quality or branded products. This will boost revenue and improve the bottom line. Payment flexibility will also enhance the brand’s image, earn the customer’s confidence, and build loyalty in the long run.

Customer Experience Will Improve Too

Since Tabby’s split payment system doesn’t require customers to bear any extra interest or fee on the installments, they have the freedom to shop without stress. It will be easier for customers to manage their monthly budget and control one-time expenses too. Another key advantage of using Tabby while checking out is that even shoppers with modest incomes can purchase premium or limited-edition items without draining their savings or compromising on essential expenses.

The Ecommerce Future Looks Bright

PayTabs and Tabby’s partnership brings good news to both online merchants and customers in UAE and Saudi Arabia. Businesses can build or improve their reputation, forge better bonds with customers, get more orders, and expand their customer base. On the other hand, shoppers can enjoy more flexibility, freedom, and even financial security. Middle East’s ecommerce landscape awaits a future full of potential.

The ecommerce landscape in the Middle East has been flourishing in recent times, driven by the convenience, flexibility, and possibilities of digital transactions. Millennials are actively contributing to the rapid shift from traditional to online shopping. Moreover, in 2019, smartphone penetration in the Middle East was estimated at 97%, as per a Deloitte survey. And this number has only improved since then. So, it is no wonder that the UAE has emerged as the 27^th biggest ecommerce market in the world today, while Saudi Arabia is following closely at the 28^th position. In fact, by the end of this year, the total ecommerce revenue in the UAE is expected to cross the $10 billion mark. Sectors such as electronics, fashion, appliances, and furniture are witnessing maximum consumer demand.

Hence, in such a scenario, the coming together of fintech giants like PayTabs and Tabby is likely to boost the ecommerce landscape in unprecedented ways. Their partnership will not only empower merchants in UAE and Saudi Arabia further but also simplify the lives of consumers. Let’s understand how.

Introducing PayTabs

PayTabs is a cutting-edge financial services company offering payment solutions for new-age businesses that want to build and grow their digital presence. It allows merchants like you to conduct business with any part of the world, accept payments in multiple currencies, and benefit from fast, secure, and efficient transactions.

PayTabs’ range of payment orchestration solutions includes 3D secure payments, point-of-sale management, prepaid card management, social media payments, and more. Apart from offering businesses a robust payment gateway, PayTabs can handle digital invoicing, QR codes, integrations, dashboards, and recurrent billing, among others. And this has already ushered in a paradigm shift in industries like hospitality, education, government, and travel. Apart from having dedicated offices in the UAE and Saudi Arabia, PayTabs enjoys a robust presence in countries like Egypt, Jordan, and Turkey.

Introducing Tabby

A top-rung app for shopping and financial services in the MENA region, Tabby has reinvented the way people think of and use money. It enables you to buy from popular brands while spending in a controlled fashion and saving intelligently. By offering flexible payments in stores and online, Tabby has helped more than 30,000 businesses drive growth and customer loyalty. These include names such as Adidas, Bloomingdale’s, H&M, IKEA, and SHEIN.

More than 10 million registered shoppers have already realized the advantage of using Tabby in the UAE, Saudi Arabia, Qatar, Bahrain, and Kuwait. Based on the app’s latest installment of funding from PayPal Ventures, Sequoia Capital, and Arbor Ventures, Tabby’s value is pegged at $660 million.

Why PayTabs and Tabby Joined Hands

The chief objective behind this partnership is to strengthen the arsenal of businesses already using PayTabs’ payment platform. The split payment solution Tabby offers will allow such merchants in the UAE and Saudi Arabia to offer customers the Buy Now Pay Later (BNPL) experience. In other words, when shoppers get ready to checkout after adding whatever they need to their cart, they will see Tabby as one of the payment options. Customers will be able to split the total bill into four parts and take enough time to pay them off without bearing any interest or fee. There are multiple advantages involved:

• Since shoppers will have more time to pay the entire purchase amount, they will feel inclined to shop for more than they had initially planned.
• The flexibility and freedom will motivate even casual browsers to make a purchase.
• Instances of cart abandonment will decline since the BNPL solution will make purchases way more affordable for customers.
• Customers will be able to buy even luxury or limited edition items owing to the installment payment system.
• Merchants will be able to reach out to a wider base of customers, including millennials and senior citizens, and boost transaction volumes and sales.
• By offering such a powerful alternative payment method, merchants in the UAE and Saudi Arabia can confidently enhance their brand image and scale operations.

The Way Forward

As retailers using PayTabs can easily get started with Tabby, a new era of ecommerce is ready to unfurl. Through thoughtful collaboration, PayTabs and Tabby are building a unique ecosystem where merchants can reinvent the shopping experience for customers, attract more traffic, drive more conversions, and augment revenue with minimal effort. The ecommerce landscape in the Middle East has never been more exciting!

PayTabs in Palestine: The Birth of a New Digital Era

In a significant stride towards enhancing digital commerce and financial inclusion, PayTabs, one of the leading payment gateway providers in the Middle East, has created a transformative partnership with Middle East Payment Services (MEPS) Palestine. This groundbreaking alliance is set to bring in a new era of digital payments for the people in Palestine.

It will offer a lifeline to small and medium-sized merchants, e-commerce entrepreneurs, home-based business owners, as well as large enterprises. With the help of this collaboration, Palestinians will have the opportunity to make online transactions and payments with another platform, thereby unlocking a world of new opportunities and economic growth.

Significance of the Partnership

Access to Global Markets

The partnership between PayTabs and MEPS will allow Palestinian businesses to reach beyond their geographical borders and tap into the global e-commerce landscape. Small and medium-sized enterprises, home business owners, and e-commerce entrepreneurs will no longer be confined to selling in their local market and, by setting up their websites, will have the means to reach a broader international audience. This will fuel economic growth and job creation in the country.

Secure Digital Payment Solutions

Setting up a robust financial institution has always been tough in Palestine. Most people cannot access regular banking services or perform basic activities. With the help of the alliance, PayTabs aims to bridge this gap by providing Palestinians with accessible and secure digital payment solutions that are also easy to use. As a result, a more significant segment of the population will be inducted into the formal financial system, fostering economic stability and resilience.

Empowering Entrepreneurs

While the alliance is beneficial for everyone, it comes as a boon for budding entrepreneurs in Palestine. Small and medium-sized business owners can get onboarded on PayTabs easily, create invoices for their products or services, and start accepting payments from customers right away. E-commerce entrepreneurs, webpreneurs, and creators can now access trusted and reliable payment solutions, enabling them to expand their business. This newfound convenience and flexibility will encourage innovation and entrepreneurship in the region and will lead to the emergence of a vibrant digital economy.

Enhanced Customer Experience

Dealing with cash only can be troublesome and slow. For consumers in Palestine, PayTabs brings a paradigm shift to purchasing. Customers will now be able to make online purchases and transactions seamlessly, be it over the internet or through e-commerce on social media platforms. This ease of access enhances the consumer experience and brings modern conveniences to daily life.

Enhanced Access to Credit and Capital

With a digital financial footprint, Palestinians can easily establish credit histories and access loans and capital. This can support business expansion and entrepreneurship by providing the necessary financial resources to invest in infrastructure, marketing, and technology. Access to credit can be a game-changer for small and medium-sized enterprises, allowing them to scale and compete more effectively.

Benefits this Alliance Brings

Economic Growth

With the introduction of digital payments, the economic growth of Palestine will attain a new pace. More and more businesses will go online, and the demand for services and goods will increase. This will, in turn, enable new entrepreneurs and businesses to prosper, lead to job creation and boost economic activity.

Financial Empowerment

The partnership will improve financial inclusion in the area. Historically, many Palestinians have been excluded from the formal financial system due to several barriers. The PayTabs-MEPS partnership will break those barriers and empower Palestinians to manage their finances more efficiently. More and more people will now have access to banking services and digital wallets, enabling them to save, invest, and make transactions securely. This will improve the region’s financial stability along with increased asset accumulation and long-term economic security.

Reduced Dependency on Cash

By transitioning to digital payments, the dependence on cash will be reduced significantly, which will reduce cases of theft, loss, and fraud. Palestinians will experience higher financial security and control by embracing secure and traceable digital transactions. The shift to digital payments will also lower the costs associated with handling and transporting physical cash, resulting in cost savings for businesses and individuals alike.

Technological Advancement and Skills Development

The adoption of digital payment solutions will drive technological advancement in Palestine. It will expose businesses and individuals to cutting-edge financial technology and help cultivate a culture of innovation and technical skills development. This can lead to the growth of a thriving technology ecosystem, potentially attracting investments and partnerships with global tech companies, which can further enhance economic diversification.

Improved Government Services

Digital payments are not restricted to individual payments only. It also extends to government services such as tax collection, social welfare distribution, and public sector salaries. With advanced payment means in place, these processes will be streamlined for enhanced efficiency, reduced corruption, and improved overall effectiveness of public administration. This gives rise to better public services and governance.

Conclusion

The partnership between PayTabs and MEPS Palestine marks a historic milestone in the journey towards digital transformation and financial inclusion for the Palestinian people. It facilitates seamless online payments, electronic invoicing, and accepting business payments in multiple currencies. Online merchants and e-tailers can also use PayLinks to sell their products or services over social media channels such as Facebook and Instagram. More than 80% of the population has mobile connectivity, and this presents a huge opportunity for social commerce in the region.

FAQs

What is the Partnership, and How does It Work?

The partnership between PayTabs and MEPS Palestine enables online payments. PayTabs provides the technology, while MEPS integrates it with local businesses.

How does It Benefit Small Businesses and Entrepreneurs?

Small businesses gain access to global markets and financial inclusion, encouraging growth and job creation.

What Impact will It have on Financial Inclusion?

It promotes financial inclusion by offering accessible digital payment solutions, allowing Palestinians to participate in the digital economy.

The world of e-commerce is one that is continuously evolving, with new challenges and opportunities arising every day. One of the biggest challenges that merchants, startups, and businesses have faced is in the realm of payments and financing. For years, securing reliable payment processing and financing solutions has been a significant hurdle for businesses in the industry. However, we at PayTabs and FlapKap, have been working to change this. Now, with our powers combined, businesses in the e-commerce industry are set to reap the benefits and double the opportunity for growth and profit.

Benefits of the Partnership

PayTabs, a leading digital payment solutions provider, and FlapKap, a revenue-based financing platform for e-commerce brands in the MENA region, have recently announced a partnership that aims to provide digital payment and financing solutions to startups and businesses, helping them grow and succeed in the rapidly evolving e-commerce industry.

PayTabs and FlapKap complement each other’s services in a way that can significantly benefit e-commerce businesses in MENA. PayTabs’ digital payment solutions enable businesses to accept online payments from clients/customers worldwide, while FlapKap’s revenue-based financing can provide the necessary capital to fuel growth and expansion.

The partnership between PayTabs and FlapKap offers a range of digital payment and financing solutions tailored to the needs of e-commerce businesses in MENA. This includes fast and secure payment processing, flexible financing options, and customized repayment plans based on the businesses’ revenue streams. This will allow startups and businesses to access the capital they require to grow and scale their operations without the need for collateral or traditional bank loans.

This collaboration is set to make a significant impact on the e-commerce industry in MENA. By providing innovative solutions that can help e-commerce businesses thrive, the partnership is well-positioned to drive growth and innovation in the region.

Details of the partnership

PayTabs and FlapKap will collaborate to offer a range of digital payment and financing solutions for startups and businesses in MENA. The partnership will focus on delivering services that can help businesses grow and succeed in the e-commerce industry.

PayTabs will provide digital payment solutions to enable organizations to accept online payments from customers worldwide. This includes a fast and secure payment processing system that can handle transactions in multiple currencies and languages. PayTabs will also offer advanced fraud detection and prevention tools to ensure that transactions are secure and reliable.

FlapKap will provide its revenue-based financing platform to offer customized financing solutions to e-commerce businesses in MENA. FlapKap’s financing solutions are tailored to the businesses’ revenue streams and can provide the necessary capital to fuel growth and expansion. This includes flexible financing options and customized repayment plans based on the businesses’ revenue performance.

The partnership will not only benefit startups and SMEs but also has substantial business advantages for established e-commerce brands. The solutions offered by the partnership will be particularly useful for businesses that face challenges in securing traditional bank loans or other types of financing. This could include businesses new to the e-commerce industry or those looking to expand into new markets.

Current State of the eCommerce Industry in MENA

The e-commerce industry in MENA has been growing rapidly in recent years, with more businesses embracing the digital revolution. The e-commerce market in the MENA region will witness steady growth and reach an estimated $57 bn in 2026, with a CAGR of 11 per cent between 2022 and 2026.

However, e-commerce businesses in MENA still face several challenges that can pose a hurdle to their growth and success. These include limited access to financing, difficulty in securing payment processing solutions, and a lack of trust among consumers.

The partnership between PayTabs and FlapKap is well-positioned to address some of these challenges by providing digital payment and financing solutions tailored to the needs of e-commerce businesses in MENA.

Future Outlook

The partnership between PayTabs and FlapKap has the potential to expand and grow, driving innovation and growth in the e-commerce industry in MENA. As more businesses in the region embrace the digital revolution, there will be an increasing need for reliable and secure payment processing and financing solutions.

The success of this partnership could also lead to other collaborations and partnerships in the region as businesses look for innovative ways to grow and succeed in the e-commerce industry.

Conclusion

The partnership between PayTabs and FlapKap is an exciting development for startups and businesses in MENA, offering a range of digital payment and financing solutions that can help them grow and succeed in the e-commerce industry. With a focus on tailored solutions based on the businesses’ revenue streams, this partnership has the potential to steer innovation and growth in the region, addressing some of the challenges faced by e-commerce businesses in MENA. As the partnership continues to evolve and expand, it could pave the way for other collaborations and partnerships that can benefit the e-commerce industry in the region.

Are you an eCommerce business owner with your website and shopping portal? Are you a freelancer trying to make money doing something you love? Or are you in a financial situation looking to upgrade your payment solution? No matter what business you belong to, PayTabs has something to offer everyone.

PayTabs is one of the leading payment solutions companies in the UAE and its neighboring countries. We offer various payment methods so that payments don’t come in your way of building better relationships with your customers. By integrating PayTabs into your business, you provide your customer with the most appropriate mix of payment options. This empowers your customer to transact with you in his/her preferred method, enhancing convenience and improving the overall experience.

Customers can pay via debit or credit cards, be it Visa, Mastercard, American Express, JCB, UnionPay, or others. Along with cards, PayTabs accepts payments via digital wallets like Apple Pay and Samsung Pay as well. PayTabs has recently partnered with PayPal as well to add to offer more payment options. With the option to pay via one of the most popular and widely used digital wallets in the world available during checkout, more alternatives can be offered to your customers and instill a sense of trust and security.

Also Read: Digital Payments is Safer during Emergency and Crisis

What is PayPal ?

PayPal is the most renowned payment gateway in the world for online businesses. Online businesses and merchants can accept payments for their products or services via debit/credit card or mobile wallet. It also provides additional benefits for customer retention, like timely offers, discounts, and more. Its economical transaction charges also make it a profitable option for accepting large orders and consignments. Big enterprises like Amazon and WooCommerce also accept payments through PayPal, making it possible for them to cater to customers worldwide.

Also Read: 4 Ways to Prevent Credit Card Fraud at Your Business

Along with different payment options, PayPal also has exceptional security features in place. Pair it with the security guideline compliances followed by PayTabs, and you can be sure that every translation will be completely secure and free from online hackers and fraudulent activities.

Here are some of the features of PayPal that will make you excited about this collaboration:

• Shipping

If a customer is unsure about the shipping charges, PayPal provides an option to calculate the taxes and total shipping charges just by entering the shipping address of the location.

• Easy Integration

PayPal is used extensively by merchants and freelancers all over the world. It integrates easily with your website and other applications and enables you to accept secure payments without any hassle.

Also Read: The Best Social Commerce Platform for Freelancers

• Phishing Protection

With years of experience and working with several companies, PayPal has developed trustworthy security features that automatically detect any phishing or anomalous activity and protect business owners.

• Buyer Protection

Confidentiality is something that modern buyers take very seriously. If a buyer is skeptical of sharing his/her personal information online for fear of the details getting misused or receiving frequent calls from telemarketers, PayPal takes care of this situation by keeping the payment as well as purchase details of the customer a secret.

• Support for Online and Offline Businesses

It doesn’t matter if you accept payments through a website or in your store; PayPal supports both.