PayTabs Group has integrated key national payment methods in Saudi Arabia to complete its Payment Orchestration Platform.
Announced during the LEAP Expo, the strategic deal will extend PayTabs reach within the Saudi Arabian market and fortify its commitment to extend its full stack payment processing services to government entities, financial institutions and fintechs, including funds and entities overseeing mega infrastructure and development projects.
As the Kingdom’s public sector is one its most prosperous, the Saudi-based payment processing company’s orchestration platform was created to service government entities, financial institutions, and enterprise clients.
By adding national payment integrations to the PayTabs ecosystem, the firm is able to extend its services to government entities with payment processing and collection. Additionally, the enhancement well-positions the frim to cater to a wider range of clients, including those in the public sector.
Recently, the public sector has become more attractive due to it working to achieve the Kingdom’s Vision 2030, a government programme with the goal of increasing diversification economically, socially and culturally.
Therefore, PayTabs solutions were designed to provide a secure, scalable, and stable platform that can be customised and developed to keep pace with the goals of the Kingdom’s vision.
Abdulaziz Al Jouf, CEO and Founder, stated: “The Kingdom’s mega and giga projects are designed to stimulate the economy and their benefits expand significantly beyond the real estate and infrastructure sectors, helping to diversify the economy.”
It has been a busy year for the firm, as it partnered with Fintech Galaxy to adopt its Open Banking infrastructure. PayTabs also partnered with Nearpay to offer users across the MENA region an elevated SoftPOS payment experience.
However, this latest development could prove to be its most important yet. This is due to Saudi Arabia’s infrastructure development plans in preparation for Expo 2030 and the World Cup 2034.
Al Jouf added: “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.”
