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.

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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.

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The collaboration aims to enhance the user experience of merchants and customers that use PayTabs Touch – PayTabs proprietary soft pos application across the region, including the MEPS FAST application in Jordan. As part of its payment orchestration platform, PayTabs soft POS technology is a modern leap in payment systems, seamlessly turning smartphones and tablets into swift payment terminals. This innovative solution streamlines transactions by ditching bulky hardware, empowering businesses of all scales to effortlessly process card payments. 

With a user-friendly interface and robust encryption, it not only simplifies checkouts but also amplifies customer satisfaction. PayTabs soft POS technology enables merchants to conduct transactions anywhere, from bustling city squares to remote locations. This enhancement is set to redefine the landscape of mobile payment acceptance, offering friendly and efficient solutions for small and micro businesses. Businesses who sell out of a food cart, vendors running pop up shops or restaurants that offer table side bill payments are a key demographic for tap to phone payment acceptance. PayTabs Soft POS, known for its secure features and reliability, will now be powered by Nearpay’s state-of-the-art POS infrastructure. This advancement aligns with the growing trend towards contactless payments, providing a secure and convenient option for both merchants and customers. The focal point of this partnership is the integration of Nearpay’s innovative ‘Tap to Phone’ technology into the PayTabs Touch app. 

Commenting on the partnership with Nearpay, Eyad Musharbash, PayTabs Regional Head and Operating Partner for the LEVANT region said, “Two Saudi fintech brands are joining hands to power contactless payments the region. We are excited to collaborate with Nearpay to introduce this elevated Soft POS experience to our users. The integration of ‘Tap to Phone’ technology into PayTabs Touch will not only streamline payment processes for businesses but also offer millions of customers a modern and secure payment option.”

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