PayTABS

With a presence in over 21 regions, Saudi-based PayTabs provides financial solutions to businesses worldwide, guaranteeing flexible and secure online payments.  

For the first time in the USA, digital wallets eclipse the traditional credit card. Holding over 32% of the value of e-commerce transactions by 2022, virtual bankcards are becoming the main source of payment. Abdulaziz Al Jouf is keen to take part in this decisive turning point for the banking sector, and is making a splash with PayTabs, an innovative financial services start-up. Combining transactions, online invoicing and point-of-sale in more than 168 currencies, PayTabs offers companies of all sizes - small, medium and large - the opportunity to expand their presence in global markets on an uninterrupted basis. 

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Paying securely, wherever you are: PayTabs' mission n°1

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Once integrated into each corporate customer's website, the financial services platform processes transactions in complete security. This is a key component of the application's system. Protecting user data is a major issue, especially in the Middle East. As a recent Deloitte report reveals, since the Covid crisis erupted, many organizations in the MENA region (Middle East and North Africa) have seen an increase in computer fraud of around 48% compared with previous years. To guard against this threat, the company is stepping up its partnerships with cybersecurity companies such as Modirum, which has specialized in 3D recognition for over 20 years.

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A competitive company eager to break new ground

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Other partnerships are designed to penetrate new, unexplored markets. Such is the case with Payoneer, an American fintech which, taking into account local regulations, preserves PayTabs' legal compliance. The young company's international footprint is striking. As soon as it launched in 2014, the Riyadh-based start-up opened offices in Egypt, India and Turkey, as well as in Dubai, a veritable financial hub. Quickly noticed for the quality of its services, PayTabs joins the Gulf Cooperation Council market. On the strength of its successful integration into the context of globalization, PayTabs was rewarded in 2016 by Forbes Middle East as "Saudi Arabia's most promising start-up".

Over the years, PayTabs has achieved significant milestones in its journey towards global expansion. In 2021, a strategic partnership with Visa and Union Pay International was signed, to offer mobile payment services on a global scale. This collaboration extends the scope of possible transactions to thousands of players, including small shops in India. PayTabs recently set its sights on India, with the acquisition of PayLab, one of the world's largest transaction and money transfer platforms, operating in Europe, the USA, Africa and Asia. Further east, the acquisition of the Turkish company Paymes has further modernized PayTabs' services. Paymes enables the parent platform to sell products and services in less than twenty seconds on the instagram platform, thanks to a simple link. Today, the financial services platform is used by over 12,000 businesses in the Middle East, India and the Philippines.

The founder and CEO of PayTabs underlines the benefits resulting from the deployment of its activities on a global scale: "PayTabs has succeeded in providing de-materialized payment solutions to the largest multinationals around. As a result, we now have our own intellectual property and can connect to multiple APIs (application programming interfaces) in the region". Thanks to this interoperable system, PayTabs now wields a universal (computer) language: the very essence of Abdulaziz Al Jouf's federative project.

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Sources :

https://www.businesswire.com/news/home/20230323005062/en/Account-to-Account-Payments-Set-to-Revolutionize-Shopping
-with-E-commerce-Payments-Reaching-525-Billion-Globally-Worldpay-from-FIS-2023-Global-Payments-Report
‍https://www2.deloitte.com/xe/en/pages/finance/articles/me-fraud-survey-2021.html
‍https://en.m.wikipedia.org/wiki/Pay_Tabs
‍https://www.prnewswire.com/news-releases/paytabs-acquires-ogs-paylab-india-to-deliver-mada-certified-
payment-orchestration-in-the-kingdom-301831887.html
‍https://fr.wikipedia.org/wiki/Conseil_de_coop%C3%A9ration_du_Golfehttps://www.payoneer.com/fr/
‍https://globalfintechseries.com/commerce/paytabs-acquires-turkeys-largest-social-commerce-platform-paymes/

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