Every once in a while there comes a brand that disrupts the old way of working and replaces drudgery with excitement. Most entrepreneurs behind such brands have been told that their ideas are implausible. And yet, here they are, not only revolutionizing our lives but also empowering businesses, generating jobs, skilling workforce and changing perceptions. Such brands were recognized and awarded at the World Payment Congress on 14th February 2018.
The World Payment Congress recognizes players in the fintech industry who are working to create the next level of possibilities in payments. Globally, 35% internet users buy online from outside their home country. The cross-border market value is expected to surge to 994B in 2020. With a 27% YoY growth in eCommerce, India offers huge profits and potential opportunities to players worldwide.
For entrepreneurs who are looking to sell outside India, having a single payment interface across countries and currencies was a must. It had to be easy to use for merchants and hence a lot depended upon the global appeal of a clean and easy to use UX. Besides, changing times required the latest and most secure way to conduct transactions. All these requirements pushed PayTabs to create a new system that could change the way transactions were conducted internationally, especially by Small Medium Enterprises (SMEs).
Keeping their focus on SMEs proved to be a game changing strategy for PayTabs. They leveled the playing field between larger enterprises and SMEs thus creating a Blue Ocean for themselves and their customers. In addition to developing features that were in clear demand, PayTabs also understood several latent needs that existed in the market. They allow users to create and send online invoices, use API plugins to integrate with your website and even create an online store. They also allow instant global activation and don’t require an on ground local establishment.
PayTabs agility is demonstrated by the fact that they are quick to recognize local payment preferences and adapt their system to mimic these effectively. This ensures that people don’t have to step out of their comfort zone to use PayTabs. This also became a governing factor on why merchants adopted PayTabs with ease.
On receiving the award, PayTabs CEO Abdulaziz Al Jouf said, “At Paytabs, we are honored to accept the Best Global Online Payments Solution of the year award. Coming from World Payment Congress, this prestigious award is a recognition of the hard work from the entire team, without whom we couldn’t have grown to where we are today. We are thankful to our customers who’ve walked with us through the years, put their trust in our brand. We would also extend our gratitude to all our partners who made it possible for us to extend this solution to 17 countries. We look forward to making PayTabs a brand that people can use to build their businesses in the coming years.”
For PayTabs, the award is yet another feather in our cap. It validates our efforts in providing seamless B2B solutions in multiple currencies across multiple markets. It gives PayTabs added credibility as a service provider. If you would like to take your business to a global audience, do check this out to see how PayTabs can help you.