Riyadh 7 Mar 2024:
PayTabs Group, MENA’s award-winning payment orchestration powerhouse during the LEAP Expo, has just announced the seamless integration of key national payment methods in the Kingdom of Saudi Arabia to complement and complete its Payment Orchestration Platform.
This strategic move which was announced during the world’s most attended tech event not only expands PayTabs’ reach within the Saudi Arabian market but also fortifies its commitment to extend its full stack payment processing services to government entities, financial institutions and fintechs companies including those funds and entities overseeing mega infrastructure and development projects.
PayTabs vertical and horizontal issuance and acquiring fintech orchestration platform was conceptualized to service government entities, financial institutions, and enterprise clients with a robust technology stack for both online and offline transactions. The Kingdom’s public sector is one of the most prosperous sectors working to achieve the Kingdom’s Vision 2030.
Therefore, PayTabs solutions were designed to provide a secure, scalable, and stable platform that can be customized and developed to keep pace with the goals of the Kingdom’s vision. In addition to its ability to manage and process exponential payment volumes effortlessly per second through servers located inside the Kingdom of Saudi Arabia, (according to the standards and specifications applicable with the kingdom) and holds Payment Technology Service Provider certification with Saudi Payments. PayTabs owns the intellectual property rights for all products offered under its platform.
Tailored specifically for ministries, fintech’s, and public entities, PayTabs platform provides custom-fit solutions available on the cloud, on-premise, or through hybrid models, ensuring affordability and flexibility. The kingdom’s public sector can benefit from launching their own private labelled payment orchestration service on a modular basis, meeting all local data fencing and security requirements which is a key benefit to keep up with Saudi Arabia’s infrastructure development and massive development programs in preparation for Expo 2030 and the World Cup 2034.
The other major advantage is that just like the Kingdom’s ministries have a proven record of delivering some of the world’s most renowned projects, PayTabs has a proven record of facilitating rapid deployment—launch card issuing or a payment gateway in just 5 to 12 weeks ensuring the fastest go-to- market in the region.
This new integration is a significant addition to the PayTabs ecosystem. It will now allow PayTabs to extend its services to government entities with efficient and secure payment processing and collection. With this enhancement, PayTabs is well-positioned to cater to a broader spectrum of clients, including those in the public sector.
The Payment Orchestration Platform is a culmination of PayTabs’ services under one unified label, streamlining the user experience and providing a comprehensive suite of payment solutions for all sectors of the economy including SME’s private enterprises, and freelancers.
As part of this orchestration and arrangements with licensed partners, PayTabs now seamlessly enables its technology partners to accept payments through one of the most popular and used payment methods in the kingdom – SADAD which has always aimed to accelerate digital transformation in the Kingdom.
Speaking during the LEAP Expo in Riyadh, Abdulaziz Al Jouf, CEO, and founder said, “The kingdom’s mega and giga projects are designed to stimulate the economy and their benefits expand significantly beyond the real estate and infrastructure sectors, helping to diversify the economy. As Saudi Arabia’s first fintech brand, we are proud to power this growth with the region’s home-grown orchestration platform which now includes key national payment methods.”
About PayTabs
The PayTabs Group is an award-winning payments solutions powerhouse founded by Saudi entrepreneur Abdulaziz Al JoufHaving processed the first live payment gateway transaction in 2014, today PayTabs processes payments in multiple currencies and markets, swiftly and securely. By providing the infrastructure for B2B payment solutions, including digital invoicing, QR codes, social media payments, point of sale, and switching platforms, PayTabs facilitates seamless e-commerce and social commerce solutions for merchants and super merchants.
PayTabs continues to custom build and export mobile applications, hospitality, governmental, education, airline, travel, transport, and biller solutions, to interlink MENA’s multi-billion-dollar payment corridors. PayTabs home owned, globally validated unified payment acquiring and issuing orchestration platformenables governments and large-scale originations to become independent payment platforms to serve their unique industries. PayTabs Issuance, armed with its own IP and built on globally acquired expertise is custom designed to empower any business with acquiring, issuing, managing, and controlling payments
In 2022, PayTabs 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, Turkey, and Egypt. The company is an equal opportunities employer. More milestones on: https://site.paytabs.com/en/
