Riyadh – Mubasher: PayTabs Group plans to exceed SAR 200 billion in payment processing volumes by 2025, according to a statement in line with the 24 Fintech event that was held in Saudi Arabia for three days last week.
The set target aligns with PayTabs’ plan to achieve 200% to 400% year-on-year (YoY) growth across established and emerging markets in the MENA region.
Furthermore, the payments platform’s set goal to grow is attributed to its payment orchestration platform, private labelling solutions, and super app scaling businesses in MENA.
The orchestration platform is able to manage and process billions in payment volumes across the region effortlessly per second through servers located inside the Saudi Arabia, theUAE, Egypt, and other Arab countries.
PayTabs Group CEO and Founder Abdulaziz Al Jouf, said: “We are proud to be the leading partner for enterprises and governments, looking to streamline their payment processes and foster growth.”
Al Jouf concluded: “We invite all businesses to visit us at 24Fintech to experience in real-time how our orchestration platform and super app is driving the regions payment economy.”
Meanwhile, the expansion plans include scaling PayTabs’ core payment and orchestration platform operations while working with central banks and large cards schemes in 2024.
“Business analysts at the 24 Fintech event are speculating that the company may be exploring new avenues to capitalize on its market-leading position via an initial public offering, shortly,” according to the statement.
As part of its regional operations, PayTabs Egypt earlier joined forces with EFG Hermes ONE, the online trading platform of EFG Hermes and Banque Misr to introduce a new debit card top-up feature on the online trading platform.
