PayTabs Shakes Hands with Invoice Bazaar to Offer Working Capital Solutions

Tag: UAE



PayTabs is a leading payment gateway for businesses in Middle East. The processor mainly offers services to small and medium enterprises, helping them grow their business through a simple and secure online payment process. In order to further enhance its services, the company has now collaborated with Invoice Bazaar. This new collaboration is especially impactful in today’s work environment where businesses are facing multiple issues due to the outbreak of COVID-19 pandemic.

The Benefits

The collaboration between these market innovators seeks to provide cutting-edge support to their clients.

  • Crisis Management: Currently, businesses are facing a lot of issues due to the onslaught of a highly unexpected situation. However, the use of technology and relevant tools can help in minimizing losses caused. These tools may also help businesses in optimizing the use of their resources. The tie-up between PayTabs and Invoice Bazaar can go a long way in this direction. Now, merchants will be able to obtain economical working capital funding through the help of Invoice Bazaar.
  • Liquidity and Asset Management: The COVID-19 outbreak has impacted the businesses in a profound manner. This impact is even more palpable in the case of small and medium sized enterprises. According to IFC World Bank, these enterprises account for more than 50 percent employment and 90 percent of businesses globally. The collaboration between PayTabs and Invoice Bazaar seeks to provide working capital services to this segment. The businesses will be able to carry out mobile and online payments using PayTabs platform while Invoice Bazaar will assist with microfinancing activities.
  • Easy Operations: PayTabs and Invoice Bazaar offer an integrating platform for carrying out different operations. With Invoice Bazaar services, the existing client base of PayTabs in the UAE will be able to cash in their receivables in a prompt manner. They will also be able to carry out their online and mobile transactions in a more efficient mode. Further, the tie-up also offers a wide range of other services such as streamlined electronic invoicing and PayTabs comprehensive business manager dashboard.
  • State of the Art Technology: The collaboration brings forth many tools for serving its client base. The dashboard allows the businesses to handle their operations from a centralized location. It also helps in keeping proper track of all the expenses and incomes. Invoice Bazaar offers unique working capital solutions and MSMEs can ensure optimal utilization of their resources with the help of such solutions. The tie-up will also help in carrying out ecommerce activities and aid online payment. Due to the ongoing pandemic, the demand for online shopping has shot up as well.

About Invoice Bazaar

Invoice Bazaar is a FinTech company which is engaged in the receivables finance segment. The main aim of the company is to provide services to SMEs with regard to their working capital requirements. This is an essential service as several businesses are undergoing liquidity crisis on account of the current pandemic. These services are vital to ensure their survival.

Invoice Bazaar uses its in-house technologies and technology platform to provide state-of-the-art services to its clients. The company team has more than 50 years of experience in this domain and has offered its services to various multinational concerns such as Goldman Sachs, HSBC and Citi. So far, it has disbursed over AED 0.5 billion to its MSME clients. The company was bestowed with “MENA FinTech of the Year” award in 2019.

About PayTabs

PayTabs is a B2B payments solution provider. The company processed its first live payment in June 2014 and since then has come a long way. PayTabs now offers its services in 168 currencies through its integrated services platform. The company serves over 49 industries through its API plugins and Plug & Play features. PayTabs services are designed to help businesses save their time and money, optimizing the utilization of their resources.

PayTabs has dedicated offices in Saudi Arabia, the UAE and Egypt. These offices enable the company to lend a local touch to its services. It can further customize its products and services to meet your business’s distinct requirements in a more holistic manner.

RAK International SME FAIR

RAK International SME FAIR

To provide an opportunity for small and medium-sized enterprises to showcase their products and network, RAK SME together with RAK chamber and RAK expo have organized an international fair. It is scheduled to be held from 14 to 16th November 2019 at the Ras Al Khaimah exhibition centre in UAE

The fair will be attended by over 200 exhibitors from different countries, providing an excellent opportunity for businesses to collaborate. Participants will also be able to listen to business pioneers and leaders via informative workshops and panel discussions.

Meet & Collaborate

While SME events are a common way to achieve new sales and meet prospective clients, RAK International SME FAIR offers several unique advantages

  • Targeted Approach: RAK International SME FAIR follows a very targeted approach to provide specialized services. The event restricts itself to a well-defined number of categories so that each segment is well represented. The main sectors participating in this fair are food & beverage, energy & sustainability, technology & entertainment and furniture & office supplies. Apart from these sectors, the fair is also going to witness participation from businesses that engage in healthcare, wellness & medical segments, trade & business and beauty & cosmetics. The fair will also encompass several other industrial segments to provide a holistic view of the small and medium scale enterprise market in the UAE and globally.
  • New Products & Services: The key objective of the fair is to provide a platform to SMEs to showcase their new products, services and integrated solutions. As businesses from a large number of industries converge at the event, participants will get an opportunity to fulfill their business requirements under one roof. Whether you are looking for legal services for your new business or you want to develop software for your operations, rest assured you will get a wide range of options to explore here.
  • Networking: The fair is set to attract over 200 participants from a wide range of industries. The occasion thus offers a great opportunity to revive old ties or form new alliances. Attendees will get to interact with representatives from diverse number of industries. So, If you are looking for new collaborations within your industrial segment or are planning to enter a new business field, here, you can meet people with expertise in different areas to widen your horizons.Masterclass sessions on business expansion and sustaining SME growth will be particularly useful.
  • Learn New Developments: As this fair is a platform to let exhibitors and visitors interact, it offers a great opportunity to learn about new market developments. Here too, masterclasses and workshops on innovation and facing the future will prove to be relevant to the audience.


PayTabs participation at the RAK International SME FAIR

PayTabs is a leading B2B payment processing service provider in the region. The business is set to showcase its payment gateway solutions at the RAK International SME FAIR over the three days. Drop by, speak to the team and learn more about how they can power your payments, globally.

Women entrepreneurs making big strides in UAE

Women entrepreneurs making big strides in UAE

UAE presents a big business opportunity for women looking to launch their business. Women comprise a dominant 70% of the graduates that pass out of universities and 44% share of the workforce. Further, the gender gap in early stage entrepreneurship is already narrowing, with 7.6% women founders as against 11.8% men founders.

Leveraging the PayTabs advantage

PayTabs has always been in the forefront of embracing changes – be they technological innovations on the digital payments front or changing socio-economic equations of empowering women wanting to take the entrepreneurial plunge. Reinforcing this strategy, PayTabs is participating as a featured exhibitor in the Women Entrepreneurship Summit (WES) MENA, scheduled to be held on 22 April, 2019 in Dubai, UAE.

What is the significance of this event?

This invitation-only strategic summit aims to bring together established and aspiring women entrepreneurs across MENA region. It works on the profile sharing concept. It provides a platform to encourage and facilitate female-led entrepreneurship by enabling knowledge sharing and interaction between business women from women-centric organizations and SMEs. Despite the success of women-run businesses, there is still a lot of ground to cover. Women entrepreneurs face several challenges like access to finance, coaching and mentorship channels, networking opportunities and knowledge about the various aspects of running a business, like the changing regulatory regime and digital payment solutions, etc. While the former constraints would be deliberated upon in brainstorming sessions by the participants, PayTabs would effectively tackle the last with its innovative online payment solutions.

The PayTabs’ boost to female entrepreneurship in UAE

The shift from an oil-driven economy to a tech-enabled ecosystem is encouraging women entrepreneurs in diverse sectors. As per a recent survey, women in the GCC manage $385 bn worth of assets in SME businesses. Thus, women entrepreneurs ranging from cup cake owners, florists, financial service providers to fashion consultants, film makers, designers, etc are gradually making a name in the SME space. Being technology driven, these start-ups need digital access to global markets and the capability to accept online payments. This needs to be achieved without necessitating a physical presence in every geography to enable receipt of customer payments. This is where the adoption of PayTabs can prove to be a game changer for lady entrepreneurs. PayTabs, an award-winning digital payments company with strong roots in the MENA region boasts multi-integrated payment options via Visa, MasterCard, American Express, SADAD, Mada and more, using a single API. The PayTabs sales team would be ready and willing to answer all queries related to digital payments and how a payment gateway can be seamlessly integrated into the existing web portal.

PayTabs offers a suite of online payment solutions suited to the unique needs of SMEs and start-ups, supporting over 168 currencies. Further, with PCI-DSS certified, 3D secure authentication, 24*7 customer support and a dual-layer fraud protection system, PayTabs ensures that transactions are 100% safe and secure. Thus, business women can completely focus on running the business, and leave the worries about the payment processing and digital receipts to PayTabs.

If you are a female and entrepreneurship is your calling, UAE is the place to be in the MENA region. With PayTabs unlocking whole new possibilities in digital payments, a lady entrepreneur can conveniently accept online payments from across the globe. PayTabs can be a reliable partner in your entrepreneurial journey. Think cashless, think PayTabs! Save the date.

PayTabs’ special pricing offer for start-ups in UAE

PayTabs’ special pricing offer for start-ups in UAE

PayTabs is offering an exclusive pricing model for their payment gateway services to start-ups applying through MAGNiTT (UAE ONLY)

PayTabs’ special pricing offer for start-ups in UAE

Reinforcing its strong focus on the SME and start-up space, PayTabs has tied up with MAGNiTT, the leading community and data platform for startups, investors and enablers in the MENA region. As part of the arrangement, PayTabs is offering customized, discounted pricing for its payment gateway services to start-ups that apply through the MAGNiTT platform. The details of the exclusive offer valid for the UAE market are as below:

  • Transaction fees of 2.50% + 1 AED
  • Set up Cost – Waived off
  • Withdrawal fee – 25 AED

The eligible entrepreneur needs to submit an online application form and would be subsequently contacted by the PayTabs team with further instructions on how to avail the benefit.

PayTabs provides convenient and secure online B2B payment solutions that facilitate business enterprises, especially SMEs and start-ups, to receive payments online through agile technology. With the affordable and easy-to-use PayTabs platform start-ups can pay and receive money online, prepare online invoices, utilize API plugins to integrate one’s website to PayTabs’ payments gateway, and even create an online ecommerce store. This is a huge benefit for start-ups looking to build scale and transact business, locally as well as globally. Start-ups will be able to compete on a level playing field with established players and geographical spread will no longer be a barrier to receiving payments.

PayTabs provides customized products for SMEs, simplifying online card acceptance, and ensuring lower costs and minimal instances of fraud. Services provided comprise a secure payment gateway, fraud prevention systems with convenient electronic payment, and ecommerce platforms suited for social media compatibility. The payment solutions are completely secure, complying with world-class security infrastructure standards, as certified by Visa and MasterCard.

All of these align with MAGNiTT’s start-up focused business model. Start-up founders can use their profiles uploaded on MAGNiTT to directly approach and apply for funding to venture capitalists and angel networks based across the MENA region. MAGNiTT also provides a news board to help connect to start-up talent and enable networking opportunities. The detailed database allows entrepreneurs to study market trends and subscribe to research in related fields, so as to stay abreast of the latest developments. MAGNiTT has a considerable following in the MENA region.

The common aspects linking PayTabs with MAGNiTT are transparency and the start-up focused model. PayTabs, based out the MENA region, is PCI DSS V3.2 Service Provider Certified, which means it provides secure digital payment solutions.

MAGNiTT caters primarily to the entrepreneurial eco-system allowing founders a platform to connect with stakeholders – funders, mentors, coaches, support service providers, and skilled talent across the MENA region.

It is believed that this alignment of goals and a common strong presence in the MENA region shared by PayTabs and MAGNiTT would enable entrepreneurs to derive rich benefits in terms of launching start-ups with convenient payment processing facilities.

5 Key Factors Driving Online Payments in UAE

5 Key Factors Driving Online Payments in UAE

The recent surge in global online payments has been pretty evident across the world and the growth has been driven by stupendous growth in e-commerce transactions done in the Middle East. In fact, in one of our earlier posts, when we clearly stated that as per Capgemini’s World Payments Report 2017, the global growth in non-cash transactions has been driven by CEMEA (Central Europe, Middle East and Africa) & Emerging Asia, with UAE paying a leading role as the biggest contributor to growth in e-commerce and online payments.

The following 5 factors are driving the growth of online payments in UAE:

Increased Card Penetration:

The number of cards being used for any transaction has in fact risen to 10% of all transactions in the UAE and most of the transactions are being done online.

Growing Tourism:

UAE attracts a whole host of tourists and they always tend to pay online for most of their services like hotel booking and air ticketing.

Large upwardly mobile expat population:

The UAE has long been a global melting pot which is a testimony to the large expat population who are more tech savvy and purchase online.

Macro-economic scenarios:

The flattening of oil prices has meant that the country is diversifying its economy and focusing more on new age sectors such as e-commerce which has been aided by robust internet and smartphone penetration in the country.

Demographic Dividend:

The UAE has a relatively young population. Roughly about 24% of its 9 million+ population are below 24 years of age. Therefore it comes as no surprise that significant population in the UAE transact and pay online and pay online.

If you are interested in more such insights, feel free to subscribe to our blog alerts. Moreover, do not forget to sign up for a free demo of PayTabs, to understand how PayTabs can add value to your business.