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Celebrating Our Milestone: A Look Back at PayTabs’ Journey

Category: Global Events

PayTabs Journey
Mohab Global Events 0

PayTabs Journey

As we approach our tenth anniversary this March, we realize it has been an incredible journey marked by milestones. We have overcome hurdles and have become a name to reckon with among Payment Gateways Providers. As we cherish our journey, we look back upon all that we have achieved over the last decade.

What began as a vision of our founder, Abdulaziz Al Jouf, to power every transaction in the region has now transformed into a global enterprise. Today, we not only serve scores of merchants spread across diverse industries but have also emerged as a trusted partner for organizations all over the world. Whether you are a large organization or a start-up making its presence felt in the digital landscape, PayTabs’ customized suite of payment processing solutions will help you expand your base.

PayTabs’ journey began with a 6-member team. Today, our workforce is spread across Saudi Arabia and the GCC region, Jordan, Palestine, Egypt, Turkey, Azerbaijan, and India. As a team, we have crossed hurdles and embraced opportunities to make PayTabs a name synonymous with being a trustworthy partner in the growth of our clients.

PayTabs’ journey is marked with milestones that help us look back at the years gone by with joy.

Some prominent Milestones achieved by PayTabs at a glance:

2014: The story starts in January 2014 when PayTabs was established with a 6-member team, with the founder’s seed investment of 2 million US dollars. Subsequently in March of 2014, PayTabs opened an office and commenced payment processing. In June, the company celebrated the successful processing of its’ first live SME merchant payment transaction of USD25.

2015: By May of 2015, PayTabs had successfully expanded into most GCC markets by signing agreements with national payment service methods of the region. This move solidified PayTabs positioning as a GCC startup.

PayTabs then integrated with Sadad offering it as a payment method to ecommerce merchants in the Saudi kingdom. In June, at the Saudi Arabian Enterprise Agility Awards held with the support of the Riyadh Chamber of Commerce and Industry, PayTabs founder Abdulaziz Al Jouf was awarded the Payment Solutions Innovation award for PayTabs significant contribution to the Saudi ecommerce industry. In November, PayTabs obtained Payment Card Industry (PCI) Standards Certification, giving more confidence to its merchant base to accept payment transactions seamlessly and securely.

2016: The year started off with the thrilling news that PayTabs had been awarded the accolade of most promising Saudi startup by Forbes Middle East. This was huge recognition for a Saudi startup.

2017: Another multi award-winning year for PayTabs. First news that the payment processing company was listed fourth on the top one hundred startups in the Arab World, by Forbes Middle East and in December, Asian Banker awarded PayTabs CEO and founder an Innovation Leadership Award for his visionary approach to payments. In the same month, the team launched a mobile version of the PayTabs payment gateway platform – a mobile app to power the growth of mobile commerce in the region, giving merchants access to monitor their payment transactions on the go.

2018: Next came a host of recognition awards – Best Global Online Payments Solution by the World Payments Congress, Top 20 Fintech Startups in the Middle East as accorded by Forbes Middle East and the CEO was once again recognized as being a top fintech influencer in the region, by Forbes Middle East. Arabian Business gave the company the honour of being the Fintech Company of the year.

2019: Fast forward to 2019 and PayTabs was once again bestowed with multiple awards including one from Finext – Top Company in Payments. In July, PayTabs signed an agreement to enable customers in Saudi Arabia to pay online using STC Pay wallets. In Q3, PayTabs once again made it to the spotlight being recognized as number 1 on the top 20 Fintech Startups in 2019 by Forbes Middle East. But the icing on the cake was in 2019 when the company officially commenced operations by setting up offices in Egypt via a joint venture with EFG Hermes.

2020: When the pandemic hit in early 2020, PayTabs forged an alliance with Zbooni to empower micro business owners to sell from home as the entire world was confined to their homes. In March 2020, PayTabs signed an agreement with a subsidiary of Alinma Bank in KSA to grow our market reach in the Kingdom. Via this association, PayTabs also offered a white-labelled solution of its’ dashboard for the Bank’s Click Pay payment portal and website.

In July, as the pandemic raged, PayTabs revamped their website, making it easier for ecommerce merchants to sign up on the payment platform. The platform itself was enhanced to provide merchants with a better user experience. In early Q4, PayTabs integrated with Valu in Egypt to enable ecommerce merchants to accept payments in installments, in the republic.

2021:  In January PayTabs announced that it had tied up with Union Pay International so that ecommerce businesses in the UAE would now have access to the largest card base in the world. In April, the company announced the launch of its tap to pay soft POS solution to enable merchants to accept contactless payments via their Android smartphone devices. In June, PayTabs commenced operations in Iraq – it was the first international payment service provider to enter the Iraqi market. In August, the PayTabs app was given the honor of being one of the top fintech apps in the Middle East by Forbes Middle East.

Onwards and upwards in the MENA region, in November the Soft POS solution was launched in Jordan, in collaboration with Middle East Payment Services (MEPS). PayTabs also enhanced their payment security by announcing the platform was EMV 3D Secure 2.0 ready. The year ended on a high note with PayTabs being awarded as the most innovative payment solutions provider in KSA. In December, the company announced that it had acquired a 100% stake in Paymes – Turkey’s largest social commerce platform to develop social commerce in the GCC region.

2022:  In early 2022, PayTabs completed their acquisition and integration with India’s OGS PayLab. PayTabs entire business vision has acquired a new dimension by acquiring OGS SwitchOn capabilities. This elevates our payment processing capabilities and positioning in the market. As a Fintech enabler for the region, PayTabs vision is to power every digital transaction across the MENA region.

In May, PayTabs launched social commerce payment solutions for micro merchants and freelancers in Egypt. This quickly followed with PayTabs opening its suite of SaaS solutions to serve the MENA market. In June, PayTabs was awarded Best Fintech Company in Saudi Arabia and two other awards quickly followed in August – Best in Class Payment Orchestration awarded by International Business Magazine and top 25 Fintech companies in 2022 – Forbes Middle East. In September social commerce was launched across GCC markets UAE and KSA.

2023: In March 2023, PayTabs attained mada Payment Gateway Certification from Saudi Payments. The company also received the Business Excellence Award from Westford Awards showcasing its commitment to excellence. April 2023 marked a strategic move as PayTabs acquired OGS PayLab, Chennai, expanding its orchestration capabilities. Forbes Middle East recognized PayTabs as one of the Top Fintech Companies of 2023. The momentum continued in June 2023 when PayTabs became the first to deploy 3D secure payment solutions in KSA, demonstrating its commitment to cutting-edge technology. August 2023 saw PayTabs entering the Palestine market, furthering its footprint in the Levant region. November saw PayTabs being honored as the Best Merchant Solution in the MENA region as the company continued to unveil Card Issuance Solutions and formed a strategic partnership with Tabby, solidifying its innovative approach and collaborative initiatives in the fintech landscape. The year culminated with success as PayTabs was honored as MENA’s Fintech Co of the Year by Entrepreneur Middle East

Whether you have been with us right from the beginning or just started your journey with PayTabs, we look forward to being a part of your continued growth and success.

On our 10th PayTabs Anniversary, we look to the future and the opportunities ahead with renewed excitement. PayTabs’ journey is not just a celebration of our achievements but a story where every client, partner, and each and every team member made significant contributions.

Thank you for being an integral part of our incredible story.

3 years ago
The Saudi Fintech Tour
Mohab Global Events, PayTabs KSA 0

The Saudi Fintech Tour

Fintech is the short form of Financial Technology and is used to describe the use of technology for the purpose of facilitating financial transactions. However, it is not a new phenomenon as technology has been used by financial services for a long time. However, with the advent of internet and mobile use, the integration of technology and finance has reached a new level. Some of the most prominent examples of fintech products are Automatic Teller Machine or ATMs, mobile banking, Point of Sale machines and Credit Cards.

Fintech is making great strides in Saudi Arabia as people and businesses embrace the new changes. Fintech has received positive inducements from the rise in general economy and innovations in technology. This new trend has helped firms to grow their businesses by providing new services and products to their clients and other stakeholders. In order to ensure that fintech is fully adapted, it is important to create awareness among public and industries about fintech tools.

Evolution of Fintech

While there is no formal definition of fintech, it may be described as the application of technology for improving various financial activities. Thus, fintech may exist in the form of a business model, an application, a product or a process. Though, most of the time fintech involves use of internet, but it is not a necessary ingredient.

Fintech has seen steep increase in its usage and popularity since the mid-2000s. some of the main milestones in the journey of fintech are the launch of Apple iPhone in 2007 and the increased use of cloud computing. The launch of iPhone is a significant landmark as it heralded the era of smartphones. As smartphones became more commonplace and affordable, the use of internet banking also increased. This development allowed the financial services firms to target clients which were earlier inaccessible due to their geographic location.

Similarly, the developments in cloud computing area ensured that the financial services firms are able to store and transmit the data in a secure manner. For financial services, maintaining the integrity of sensitive data is highly important. It is also required to keep up prompt access to the data to provide fast and smooth services. All these prerequisites were facilitated by cloud computing.

Apart from these two factors, there are several other growth drivers, pushing the fintech market ahead. Today’s customers are less rigid about their financial services practices and are more amenable to using newer technologies. This willingness to embrace change made it easier for financial services firms to roll out new innovations. Further, the sector has seen interest from institutional investors as well. The injection of capital in the area allowed the firms to invest in research and development activities, ensuring that the newer technologies are developed at a fast pace. All these factors combined to make fintech mainstream in a short period of time.

About the Fintech Tour

Fintech Tour organized by Fintech Saudi is a cluster of events and activities hosted by Fintech Saudi’s partners to spread knowledge about fintech and support the development of fintech companies. To date, the Fintech Tour is the largest cluster of fintech events to take place in the Middle East.

Fintech Tour 19 will take place from 1st December – 12th December 2019 across Saudi Arabia and in selected international cities.

Themes this year are spreading fintech knowledge and accelerating fintech entrepreneurship

The Tour will consist of community events and workshops (open to everyone) organized in different cities by Fintech Saudi’s partners related to the themes. Fintech Tour 19 promises to be the most high-profile series of fintech events to take place in Saudi Arabia as it is an effective way to engage with the Fintech Community and other stakeholders.

About PayTabs

PayTabs is proud to be a part of the Saudi Fintech Tour, spreading knowledge about fintech. Join a workshop on the Future of Payments in KSA, presented by Ali Alshehri, Country Manager, PayTabs KSA. Register for the event here:

7 years ago
RAK International SME FAIR
Mohab Global Events, PayTabs UAE 0

RAK International SME FAIR

To provide an opportunity for small and medium-sized enterprises to showcase their products and network, RAK SME together with RAK chamber and RAK expo have organized an international fair. It is scheduled to be held from 14 to 16th November 2019 at the Ras Al Khaimah exhibition centre in UAE

The fair will be attended by over 200 exhibitors from different countries, providing an excellent opportunity for businesses to collaborate. Participants will also be able to listen to business pioneers and leaders via informative workshops and panel discussions.

Meet & Collaborate

While SME events are a common way to achieve new sales and meet prospective clients, RAK International SME FAIR offers several unique advantages

  • Targeted Approach: RAK International SME FAIR follows a very targeted approach to provide specialized services. The event restricts itself to a well-defined number of categories so that each segment is well represented. The main sectors participating in this fair are food & beverage, energy & sustainability, technology & entertainment and furniture & office supplies. Apart from these sectors, the fair is also going to witness participation from businesses that engage in healthcare, wellness & medical segments, trade & business and beauty & cosmetics. The fair will also encompass several other industrial segments to provide a holistic view of the small and medium scale enterprise market in the UAE and globally.
  • New Products & Services: The key objective of the fair is to provide a platform to SMEs to showcase their new products, services and integrated solutions. As businesses from a large number of industries converge at the event, participants will get an opportunity to fulfill their business requirements under one roof. Whether you are looking for legal services for your new business or you want to develop software for your operations, rest assured you will get a wide range of options to explore here.
  • Networking: The fair is set to attract over 200 participants from a wide range of industries. The occasion thus offers a great opportunity to revive old ties or form new alliances. Attendees will get to interact with representatives from diverse number of industries. So, If you are looking for new collaborations within your industrial segment or are planning to enter a new business field, here, you can meet people with expertise in different areas to widen your horizons.Masterclass sessions on business expansion and sustaining SME growth will be particularly useful.
  • Learn New Developments: As this fair is a platform to let exhibitors and visitors interact, it offers a great opportunity to learn about new market developments. Here too, masterclasses and workshops on innovation and facing the future will prove to be relevant to the audience.

 

PayTabs participation at the RAK International SME FAIR

PayTabs is a leading B2B payment processing service provider in the region. The business is set to showcase its payment gateway solutions at the RAK International SME FAIR over the three days. Drop by, speak to the team and learn more about how they can power your payments, globally.

7 years ago
PayTabs Wins Prestigious FiNext Top Companies in Payments Award
Mohab Global Events 0

PayTabs Wins Prestigious FiNext Top Companies in Payments Award

Ever since it started operations in 2014, PayTabs has been single-mindedly focused on one thing – use robust technology to help small and medium businesses make simple and secure online transactions. The company has worked towards building innovative solutions to make the world go cashless and embrace new possibilities of accepting payments. It goes without saying that they are proud of the value and opportunities created for more than thousands of payment partners. And it cannot be more satisfying when others recognize this as well.

“After careful consideration and extensive research our awards committee is happy to let you know that ‘PayTabs‘ has been selected for the Top Companies in Payments Award”

                                                                -FiNext Judging Committee

The recent award won in Singapore was collected by their distinguished Philippines Country Manager, MayFlor Jalandoni, at the latest FiNext Conference held on 25th-26th April, at Marina Bay Sands, Singapore.

FiNext Acknowledges the Torchbearers of Global FinTech Sector

FiNext is dedicated to bringing the global FinTech sector under one roof. They allow start-ups, investors, SMEs, incumbent tech providers, financial institutions and other stakeholders to connect and interact with industry innovators. This was the primary idea behind the FiNext Awards Singapore 2019. The FiNext ‘Top Companies in Payments Award’ is one of the premier business awards for achievement in the global payments sector.

While nominees were judged on 5 parameters – Spirit of Innovation, Overall Reach, Industry Impact, Future Readiness, and Market Demand, PayTabs walked away with the highest award distinction for companies specializing in the payments sector – the Top Companies in Payments Award. The judges agreed that PayTabs was a pioneer in the way it had impacted the global payments industry. And, that their brilliant insight and future readiness ensured they also captured the spirit of innovation.

PayTabs Innovative Approach

PayTabs has been providing a smooth way for entrepreneurs, financiers, practitioners, innovators, and enthusiasts to forge partnerships, grow businesses, and access global markets. They hold on to their core system of values to create a unique and secure gateway to their clients. Their smart dashboard is second to none in the way it helps businesses manage their deposits from one platform to the other. The fact that PayTabs gateway is equipped with a PCI DSS certification and anti-fraud protection allows them to enjoy global recognition.

With the latest award conferred upon them (among a series of other highly notable awards), PayTabs is geared to become a leader and pioneer in the payments gateway space.

Standing up to market trends 

The FiNext judging committee acknowledged hand-picking PayTabs from a list of incredible nominations. What worked in the favour of PayTabs was its ability to measure up to ongoing market trends and foresee client needs. They had increased their market demand by addressing these requirements of the market and responding uniquely to emerging trends. With the latest award, PayTabs continues to enjoy a successful journey as one of the premier payment gateway providers in the world.

About PayTabs:

PayTabs is a Saudi-based company that facilitates processing of online payments securely and efficiently. It was founded by Saudi entrepreneur Abdulaziz Al Jouf.

PayTabs caters to small, medium and large enterprises via different business models. PayTabs offers clients services to seamlessly ‘plug and play’ various features on to their websites. It prides itself on offering simple and EFFICIENT invoicing services for merchants and professionals.

PayTabs was awarded the title of ‘Fintech Company of the Year 2018’ at the prestigious Arabian Business Achievement Awards.

With dedicated offices in Saudi Arabia, UAE and presence in Bahrain, India and the Philippines, PayTabs is fast emerging as the preferred payment solution company.

7 years ago
PayTabs Holds a Mentorship Session for Bahrain’s Startups on the Eve of its 5th Anniversary
Mohab Global Events 0

PayTabs Holds a Mentorship Session for Bahrain’s Startups on the Eve of its 5th Anniversary

The road to glory is always tough. You get the roses at the end but initially the road is filled with thorns. The journey of PayTabs has been somewhat similar.  When we began in March 2014, we were confident that someday we would achieve our goals. Today, we stand here, all set to celebrate 5 years of operations in a few days.

Mentorship Program Begins

And to commemorate this special occasion, we, along with Flat6Labs, Bahrain’s leading Accelerator Program, organized an exclusive event for the budding startups of Bahrain. The motive of hosting a startup meet was to impart knowledge, advice, tips, and tricks under the aegis of mentors. To add a cherry on the cake, PayTabs’ success story was served as a live example for all the 60 startups that attended the event.

Here, at PayTabs, we know the importance of mentorship. When the foundation was laid in March 2014 with a corpus of $10,000, we were determined to make an impact in our industry. And we were able to do so because we received genuine guidance from experts. And today, after 5 glorious years, we have established our presence in 21 countries, with our dedicated offices in Saudi Arabia, Bahrain, UAE, Philippines and India.

Now we felt the need to do something for our startup community. So as a startup, we planned to host the startups over breakfast at the PayTabs’ headquarters. The event comprised of the following sessions – PayTabs’ journey from zero to hero, round table discussions, questions from the participants, and a brief mentorship program on the right and wrong startup practices. The participants gained knowledge necessary to operate a startup in the right manner.

Bahrain – The City of Startups

The startup meet was a landmark event held in the land of Bahrain. Bahrain has a thriving ecosystem of around 75 startups, striving to make a mark in the field of innovation and technology. These startups have the support of over 34 accelerators, incubators, co-working spaces, and other institutions.

PayTabs is a prodigy of Bahrain’s startup culture. Once, we had an idea and a strong will to succeed. Today, we have the skills, resources, ambition, and vision. But it’s not just about us, it’s about everyone who dreams of spearheading a revolution in the society. And there’s no better way to do it than to found a startup. Isn’t that so?

8 years ago
PayTabs
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