(MENAFN- PR Newswire) PayTabs' SwitchOn® platform offers unrivaled capabilities, value, and flexibility to established financial institutions, fintech's and merchants in the MENA region
DUBAI, UAE, June 7, 2022 /PRNewswire/ -- PayTabs - MENA's award-winning payment processing powerhouse, made a jump start last year in its pursuit to pioneer next generation payments, by announcing the launch of its new home owned, globally validated unified payments and transaction processing platform, PayTabs SwitchOn®.
PayTabs’ SwitchOn® offers unrivaled payment processing capabilities, value, and flexibility to financial institutions, fintech's and merchants in the MENA region
After multiple launches with clients across the region, the payment card industry (PCI) certified solution, includes a Switching and Authorization System, a Card and Wallet Management System, and the Unified API Gateway.
PayTabs SwitchOn® is now available for local deployment, at a fraction of the cost. With its own IP and built upon deep use case expertise, the flexible and compelling solution aims to empower innovation in the region by enabling flexible payment orchestration at scale.
As a Fintech enabler for the region, PayTabs' mission is to simplify and yet orchestrate a unified payments experience and value for key players in MENA and beyond. Fintechs will find it particularly suitable to comply with local in-country regulations.
Established Financial Institutions and fintechs' specific needs are met via the modular and hybrid deployment modes available.
PayTabs SwitchOn® architecture is designed to ensure a unique payment orchestration capability allowing clients from multiple industries and scale to maximise the benefits they get while in conjunction with the legacy systems.
From the Card and Wallet Management System to the Unified APM Gateway and passing by the various value-added modules, clients can select what best fits their needs. PayTabs' experts will ensure the right deployment mode is provided, either it is a Hosted Managed Service, On-Premises, or Hybrid. PayTabs also provides custom fit white-label solutions.
PayTabs SwitchOn® solution for omni channel payments and its deployment modes provide answers and checks all the boxes to the growing demand for solutions that are compliant with the data localization directives and regulations for each country of operation. Which enables brands and large corporations across countries and regions to manage their payment complexities with a 360-degree view, reducing dependencies with third parties and thus streamlining the speed to market.
Commenting on the launch of PayTabs SwitchOn®, Johnson S Sasikumar, Group Head of Strategy, PayTabs said: "In the post covid era of emerging payments, this is good news for the region. By orchestrating a groundbreaking technology and as the next generation payment system architects, we have elevated our payment processing capabilities. With PayTabs SwitchOn® we are now able to deliver a 360-degree payment experience in a few weeks, at a fraction of the cost."
Taff Morris, PayTabs VP- Divisional Head of SaaS added: "SwitchOn is the power behind PayTabs next generation payment processing solutions."
PayTabs is an award winning, payments solutions powerhouse founded by Saudi entrepreneur Abdulaziz Al Jouf in 2014.
PayTabs processes transactions in multiple currencies and markets, safely and securely. Using API plugins, PayTabs facilitates seamless B2B e-commerce solutions for small and medium enterprises across industries, to 'plug and play' payment features on to their websites. PayTabs prides itself on offering e-invoicing services enabling businesses to enjoy digital invoicing, pay by QR code or secure social media payment links.
Originally backed by Saudi Aramco's "Waed" and later by private Saudi investment, over the years, PayTabs has in-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 MENA region.
In 2021, PayTabs launched "PT Touch", the ﬁrst SoftPOS solution in MENA to transform smart phones into merchant POS terminals. Last month, PayTabs launched its own social commerce platform, 'Paymes' to ease payments for micro merchants.
A proven game changer in the global payments space, PayTabs has dedicated offices in the UAE and KSA and presence in other locales including Egypt. The company is an equal opportunities employer with a diverse and multi-cultural team from over twenty nationalities.
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