PayTabs, a company co-owned by Saudi Aramco Entrepreneurship Ventures (Wa’ed), aims to revolutionize eCommerce in the region that is evolving to be a significant contributor to economic growth.
The company is all set to launch its payment processing solutions in Bahrain, Saudi Arabia and the rest of the GCC. The PayTabs solution features a unique “one stop shop” answer with diversified products fulfilling the SME’s online payment needs without any further hassles. The company also intends to target the entire MENA region in the coming months with its products.
The Middle East E-Commerce market is expected to reach a staggering $15 billion by 2015. The biggest dilemma that SME’s and small businesses in this part of the region face is of not having a suitable online payment service provider to cater to their needs. PayTabs intends to accommodate the needs of all the online retailers as well as all those who aspire to starting a business online with its simple solutions.
The service apparently comprises of two premium solutions:
PayPage: The online invoicing system which is a very unique feature that can be used for online payments even if you don’t have a website and has been designed to serve the needs of the smallest online entrepreneurs.
eCommerce plugin & API integration: Those are ready to integrate APIs with any eCommerce website in the Middle East.
The biggest advantage that PayTabs is offering to all online merchants and retailers is quick integration and the direct transfer of payments to their bank accounts with dual layered anti-fraud protection through integration with a leading company in fraud management.
The Founder & CEO of PayTabs, AbdulAziz AlJouf, promises a great product in the making saying, “One of my many ventures was an Online Retail Store. We had great products but we always had issues with accepting online payments. I faced the same problem that millions of others in this region face. Then one day, I said to myself that why do we have to wait for someone else to make a payment solution? Why don’t we do it on our own and this is how we started working on it. It took years and with a team of developers and other specialists we built it considering the problems of the end users, because at one point of time, we were the end users ourselves.”
PayTabs also has a mobile solution with built-in 3D secure feature for its mobile developers and users, which is in beta testing phase and the company also plans on launching an eStore online shop builder platform for anyone to build their shops online in a couple of minutes to be a part of this huge eCommerce market.