PayTabs partners with MEPS to enter Palestine’s emerging web commerce market
Palestine: PayTabs Group, MENA’s award-winning payment solutions powerhouse today announced that it had entered into an agreement with Middle East Payment Services (MEPS), Palestine to power digital payments in Palestine.
The key objective of the alliance is to enable and empower small and medium merchants, ecommerce entrepreneurs, webpreneurs and creators in Palestine with simple and trusted payment solutions to be able to sell over the internet or social media.
PayTabs along with MEPS Palestine, aims to achieve these objectives by facilitating seamless online payments, recurring payments, electronic invoicing, and accepting business payments in US dollars, Jordanian Dinars, and the local currency. The full stack technology deck and capabilities of PayTabs aims at allowing more flexibility in payment acceptance, especially via Visa and MasterCard payment options.
Via PayTabs digital payment solutions Palestinian e-tailers and online merchants will also be able to use PayLinks to sell over social media channels such as Facebook, WhatsApp, or Instagram. Datareportal states there were 2.95 million social media users in Palestine in January 2023 which is 56% of the total population. Further over 80% of the population has mobile connectivity which presents a huge opportunity for social commerce.
According to World Economic Forum, numerous Palestinian companies are now using social media platforms to offer delivery services. Importantly, their product delivery range is wide – from groceries to electronic devices and gym equipment. Many Palestinians are now, for the first time, experiencing the convenience of ordering a product online and getting it delivered to their doorstep. This is an exciting development.
It is no secret that the pandemic necessitated the acceleration towards adopting digital payments in most cash driven markets around the world, including Palestine. Hence, because of the competitive product pricing and affordable website integration solutions offered by PayTabs, retailers in Palestine stand to benefit by scaling up their businesses, making them financially viable in the online space.
Speaking at the media briefing Sami Abu Yousef Vice Chairman of the Board of Directors of MEPS Palestine said “We are pleased to collaborate with PayTabs because of its importance in facilitating and accelerating e-commerce business for owners of small projects, e-commerce sites, and virtual stores through social media sites, as this service contributes to the promotion and expansion of sales operations, as well as the variety of electronic payment mechanisms, including the acceptance of all types of international payments.
The development and introduction of the e-commerce market in Palestine is one of the engines of the economy, with a direct impact on supporting entrepreneurs, digital innovations, and openness to the global trade market, and contributes to increasing Palestinian exports and improving the trade balance on the one hand, and an opportunity to display Palestinian products and services on the other.”
Eyad Musharbash PayTabs Regional General Manager for Levant & Southern Gulf added: “PayTabs is honoured to enter the Palestine market. Web commerce in the market is at the cornerstone of development and we are privileged to be part of this journey with SME businesses, inventors, creators, and entrepreneurs. As MEPS global payment solutions partner, we are determined to continue innovating to fill the regional fintech gap by leveraging the massive potential of the Palestinian market, and the Levant region. It gives us a deep sense of purpose to be able to contribute to the growth of the developing economy of Palestine.”
The Middle East Payment Services Company – Palestine was established in a strategic partnership between the Middle East Payment Services Company – Jordan and the major banks operating in Palestine (Al Quds Bank, The National Bank, Cairo Amman Bank, and Bank of Jordan). MEPS obtained the approval from the Palestinian Monetary Authority to launch its services as a company in 2020.
Middle East Payment Services (MEPS – Palestine) is an innovative, neutral payment service provider, offering secure e-commerce payment gateway solutions, as well as a comprehensive set of customized value-added services that meets the growing demand for payment solutions. MEPS Palestine is a payment processor, card issuer, and merchant acquirer of payment cards in Palestine with a presence in Jordan and Iraq.
MEPS Palestine currently caters to financial institutions and companies as well as to retailers and corporations, facilitating their debit and prepaid card transactions through third party processing, merchant acquiring, e-payment gateway solutions, mobile payments, and a range of point-of-sale (POS) services.
The PayTabs Group is an award-winning payments solutions powerhouse 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 and super merchants.
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 smartphones 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 transaction processing platform -PayTabs SwitchOn®. 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.
PayTabs has dedicated offices in the GCC including the UAE & Saudi Arabia and presence in many other locales including Jordan, Turkey, and Egypt. The company is an equal opportunities employer with a multi-cultural team. For more milestones visit https://site.paytabs.com/en/
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