PayTabs Sets Sights On Expanding Market Share In MENA
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Riyadh – Exclusive Sharikat Mubasher: PayTabs, the payments solutions powerhouse, plans to establish a robust market presence and build market share in the Middle East and North Africa (MENA) region within the upcoming few years, CEO and Founder Abdulaziz Al-Jouf told Sharikat Mubasher.
He stated that PayTabs’ immediate priority is to double its market share in countries where it already holds a significant position, leveraging the capabilities of the orchestration platform and Merchant Super App to drive growth and expand the market share in the region.
The payment services provider recently upgraded its orchestration platform to extend services to Saudi government entities by integrating national payment methods such as Mada, Urpay, STC Pay, and SADAD.
The CEO affirmed that this move reinforced PayTab’s presence in the Kingdom as the company owns the intellectual property rights for all products offered under the platform.
Regarding PayTabs’ intellectual property investments, Al-Jouf unveiled that the company targets dedicating significant resources to build internal intellectual property to differ from companies outsourcing technology.
He noted that PayTabs’ current strategy is centered on consolidating and connecting various platforms within the ecosystem, in addition to partnering with multiple ministries and banks.
Al-Jouf further said that PayTabs aspires to create an ecosystem that seamlessly integrates online and offline businesses with the banking system.
Moreover, Al-Jouf shared his thoughts about the world’s most-attended tech event LEAP 2024. He said: “It’s the best place to discover what is next or new in technology. That’s why the announcement of our orchestration platform was timed accordingly to capture the attention of the movers and shakers of the tech world.”
