Fintech firm PayTabs Group collaborated with financial service provider Nearpay on Sunday, to integrate Nearpay’s innovative ‘Tap to Phone’ technology into the PayTabs Touch app.
Saudi Arabia-based firm said this collaboration aims to improve user experience of PayTabs Touch, PayTabs’ proprietary SoftPOS application across the region, including integration with the MEPS FAST application in Jordan.
PayTabs SoftPOS technology aids in easy payment transactions using smartphones and tablets into swift payment terminals, said the firm. Additionally, this innovative solution modernizes transactions by ditching bulky hardware, empowering businesses of all scales to effortlessly process card payments.
The payment orchestration platform also said this interface will allow users to transfer money anywhere using mobile payment primarily focusing on small and micro businesses. PayTabs SoftPOS technology aims for reliability and security, which aligns with the growing trends of contactless payment options for merchants and customers.
“Integrating Nearpay’s ‘Tap to Phone’ technology into PayTabs Touch is a game changer, streamlining payments for businesses and offering users a modern, secure option,” said Mohammad Aleban, Executive Chief of Nearpay.
“This collaboration sets new standards for contactless payments, reflecting Nearpay’s commitment to transforming the payments landscape,” added Aleban.
A year ago, PayTabs Group launched its card issuing solution PayTabs Issuance for its PayTabs Orchestration service to empower companies, across the market to become self-reliant in money transaction technology.
Over a week ago, the company, headquartered in Riyadh, collaborated with an open banking and financial innovation entity Fintech Galaxy, to provide data consolidation and fast payment initiation services globally.
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