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PayTabs

PayTabs

PayTabs is a financial technology firm that provides payment processing and fraud prevention solutions for merchants and individuals across the MENA region.

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Carla Faraguna"Text adapted from the Wikipedia page "PayTabs": https://en.wikipedia.org/wiki/PayTabs"
Carla Faraguna edited on 29 May, 2019
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PayTabs

PayTabs is a financial technology firm that provides payment processing and fraud prevention solutions for merchants and individuals across the MENA region.

Article

The company offers online payment solutions that include online invoicing for customers who sell through their websites and social media accounts; and eCommerce plugins and API solutions for merchants that sell through online stores. PayTabs also provides an eStore platform, which is suitable for social sellers (Instagram, Facebook and Twitter sellers) as well as others without an online store. As of March 2018, PayTabs provides its online payment solutions to businesses in more than 21 countries across the Middle East, North Africa and South East Asia, with support for over 176 currencies.

Origins

PayTabs started operating in April of 2014. The company was founded by Abdulaziz Aljouf, a Saudi entrepreneur based between the Kingdom of Saudi Arabia and the Kingdom of Bahrain. PayTabs was incorporated in the Kingdom of Saudi Arabia and is headquartered in the Kingdom of Bahrain, with offices in UAE & India as well.

Investment

In 2017, PayTabs was able to secure a total funding of upwards of 20 million U.S. Dollars. With both Series A and Series B rounds of funding led by Saudi Aramco’s Entrepreneurship Venture Wa’ed, along-side other undisclosed investors.

PayTabs raised their 3rd round of funding in 2018.

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