PayTabs Group to drive MENA’s payment economy by crossing SAR200 Billion in payment processing This growth will solidify its position as a leading payment solutions provider in the MENA region

2024-09-05 08:04:45

(MENAFN- GAC Motor)

[Riyadh, 4 September 2024] With 24Fintech, the global fintech movement now under away, PayTabs Group, MENA’s award-winning payments powerhouse today revealed it is set to cross SAR200 billion in payment processing volumes by 2025. This exponential growth is attributed to its payment orchestration platform, private labelling solutions and super app scaling businesses across the MENA region.
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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