Financial service provider PayTabs Group launched its card issuing solution PayTabs Issuance for its PayTabs Orchestration service on Monday, with an aim to empower companies, across the market to become self-reliant in money transaction technology.
The fintech firm said this solution is framed for businesses to seamlessly acquire, issue, manage, and control payments. This solution is targeted to banks, retailers, and corporate giants to issue collaboration Visa, MasterCard, and debit cards along with other local cards in multiple currencies.
The new launch looks to simplify the complexity and cost barriers that hampers prepaid card issuance, said the firm. Additionally, using Banking as a Service (BaaS), the firm said, it brings global expertise, specialized technology, and understanding of the entire process of card issuance lifecycle.
PayTabs issuance’s objective is to customize and oversee multiple programs across borders, giving brand owners the freedom to focus on customer’s experiences and their business expansion plans.
“The issuing market is an exponential market and the Middle East is moving aggressively to digitize cash in the region, while in Africa the market is progressing towards building a strong card base dominated economy,” said Abdulaziz Al Jouf, executive chief of PayTabs.
“PayTabs has teamed up with banks and processors worldwide to help businesses issue cards globally, using smart tech Orchestration, we’re making it possible for thousands of businesses to execute transactions, access data and scale their operations,” Al Jouf added.
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