MENA’s award-winning payment powerhouse, PayTabs Group, announced the acquisition of PayTabs Egypt on Thursday, shortly after acquiring the company’s majority stake.
PayTabs Group is now able to provide even more specialised solutions to satisfy the demands of Egyptian merchants, support financial inclusion, and broaden its regional reach after acquiring full ownership.
“We are excited to take this next step in strengthening our presence in Egypt. This transition allows us to streamline our operations and further enhance the value we offer to local businesses, government initiatives, and consumers,” said Abdulaziz Al Jouf, CEO & Founder of the PayTabs Group.
He continued, “We remain deeply committed to Egypt’s digital payments future, and our focus on innovation and customer-centricity will only grow stronger.”
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Moves to enhance financial accessibility for Egyptians
This move opens a new chapter for PayTabs, enabling it to concentrate even more on developing its technological solutions, increasing the range of products available to Egyptian companies, and enhancing financial accessibility throughout the nation.
Reiterating its position as a crucial facilitator of Egypt’s shift to a cashless society, PayTabs keeps up its strong collaboration with industry partners, regulators, and stakeholders to support the expansion of the country’s booming digital economy.
PayTabs’ long-term goal of solidifying its market leadership in Egypt and beyond is in line with this purchase, which will give customers access to safe and easy payment options while also giving merchants additional chances to expand their enterprises.
In recent months, there has been a lot of media speculation that the PayTabs Group may be planning an initial public offering (IPO).
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About PayTabs
PayTabs is a payments infrastructure startup that offers outstanding, easy-to-use, safe, and scalable solutions to support financial inclusion and local businesses in the area.
Abdulaziz Al Jouf, a Saudi businessman, launched it in 2014 with the goal of enabling all digital transactions in the area. PayTabs now securely and quickly handles transactions in a variety of markets and currencies.
PayTabs enables smooth e-commerce and social commerce solutions for merchants, super merchants, and governments by offering the infrastructure for B2B payment solutions, such as digital invoicing for businesses, QR codes, social media payments, point of sale, and switching platforms.
PayTabs has been creating and exporting a full suite of revolutionary solutions for more than ten years.
In order to connect the region’s multibillion-dollar enterprise market chain, these include biller solutions, mobile applications, government, education, travel, and transportation.