Saudi’s PayTabs: Is this the future of banking?

Author: Lubna Hamdan

Abdulaziz Al Jouf, CEO of Saudi-based payment solutions company PayTabs, is planning on using elements from cryptocurrency to blockchain and artificial intelligence to ease the payment processes ranging from remittances to SME bank transactions

“I was always against working for someone else. I never wanted to be an employee.” It’s the reason why Abdulaziz Al Jouf, who comes from a “family of employees”, chose to start his own payment solutions company PayTabs after getting fired from several jobs for being, in his own words, “unmanageable”.

Four years after the launch of his firm, Al Jouf has created a force in the world of financial technology (fintech) that might become similarly troublesome – at least for his rivals. His aim is to transform the face of banking in the GCC and the wider Middle East by creating alternative payment solutions, which are set to account for 59 percent of global online transactions by the end of 2018.

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