PayTabs Group to drive MENA’s payment economy by crossing SAR200bln in payment processing
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Riyadh: With 24Fintech, the global fintech movement now under away, PayTabs Group, MENA’s award-winning payments powerhouse today revealed it is set to cross SAR200 billion in payment processing volumes by 2025. This exponential growth is attributed to its payment orchestration platform, private labelling solutions and super app scaling businesses across the MENA region.
This aligns with the company’s ambitious goal of achieving 200% to 400% year-on-year growth across established and emerging markets in the MENA region. PayTabs expansion plans include scaling their core payment and orchestration platform operations further in the region while working with central banks and large cards schemes this year. PayTabs orchestration platform has the ability to manage and process billions in payment volumes across the region, effortlessly per second through servers located inside the Kingdom of Saudi Arabia, UAE, Egypt, and other Arab countries. A glimpse of this orchestration technology has been showcased at the 24Fintech via a real-time live transaction feed with visitors curious to explore the platform and learn more about PayTabs secure, scalable, and frictionless payment processing capabilities.
Speaking at 24Fintech, Abdulaziz Al Jouf, PayTabs Group CEO and Founder, stated, ‘We are proud to be the leading partner for enterprises and governments, looking to streamline their payment processes and foster growth. We invite all businesses to visit us at 24Fintech to experience in real-time how our orchestration platform and super app is driving the regions payment economy.”
The company has operated in the GCC & Middle East markets for a decade building and owning IP rights across payment core banking infra that enables governments and corporates to create their own independent and stand-alone payment platforms.
Business analysts at the 24 Fintech event are speculating that the company may be exploring new avenues to capitalize on its market-leading position via an Initial Public Offering, shortly.
About PayTabs
PayTabs is a payments infrastructure company providing exceptional solutions that are simple, secure, and scalable to drive local commerce and power financial inclusion across the region. The company was founded by Saudi entrepreneur Abdulaziz Al Jouf.
Having processed the first live payment gateway transaction in 2014, today PayTabs processes transactions in multiple currencies and markets, swiftly and securely. By providing the infrastructure for B2B payment solutions, including digital invoicing for businesses, QR code, social media payments, point of sale and switching platforms, PayTabs facilitates seamless e-commerce and social commerce solutions for merchants, super merchants and governments.
For over a decade, PayTabs has custom built and exported a full stack of game changing solutions. These include mobile applications, hospitality, governmental, education, airline, travel, transport, and biller solutions, to interlink the multi-billion-dollar enterprise market chain in the region.
In 2021, PayTabs launched PT Touch, the first soft POS solution in the MENA market to transform smart phones into merchant point of sale (POS) terminals. In 2022, PayTabs made a leapfrog move to pioneer next generation payments, by launching its home owned, globally validated unified payments and orchestration platform. PayTabs unified payment processing orchestration enables governments and large-scale originations to become independent payment platforms to serve their industries.
In 2022, the company acquired Türkiye’s social commerce platform Paymes to complement its existing retail portfolio. In early 2023, PayTabs received payment gateway certification from Saudi Payments. By end of 2023, PayTabs was awarded MENA’s Best Merchant Solution and the glowing recognition of Fintech Company of the year.
PayTabs has dedicated offices in Saudi Arabia and UAE and presence in other locales including Jordan, Turkiye, and Egypt. The company is an equal opportunities employer. More milestones on: https://site.paytabs.com/en/
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