Financial service provider PayTabs Group said it completed the integration of a national payment method to enhance its payment orchestration platform in the Kingdom of Saudi Arabia at tech event LEAP Expo, on Wednesday.
PayTabs said the integration looks to expand its payment processing services to government entities, financial institutions, and fintech companies including transferring funds globally, infrastructure development projects as well as strengthening the technological stack for both online and offline transactions.
PayTabs solution was 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, added the firm.
Finance companies have begun to offer various alternative methods with the help of technology advancements to ease the mode of payments for their customers. Fintech company TrustCommerce added PayPal and Venmo to its medical-centric payments platform, offering patients flexibility and modern payment options, a day ago.
The finance company also said this payment orchestration platform is a culmination of its services under one unified label, streamlining the user experience and providing a comprehensive suite of payment solutions for all sectors.
“As Saudi Arabia’s first fintech brand, we are proud to power this growth with the region’s home-grown orchestration platform which now includes key national payment methods,” said Abdulaziz Al Jouf, executive Chief of PayTabs Group.
Most recently, PayTabs Group’s subsidiary PayTabs Egypt partnered with industry peer Souhoola to offer a buy now pay later (BNPL) payment method for PayTabs Egypt merchants by increasing the range of payment options offered online.
Founded in the year 2014, PayTabs Group is a payment solution house. In 2022, the firm acquired Paymes, Türkiye’s social commerce platform, and it received payment gateway certification from Saudi Payments in 2023.
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