Mideast-based PayTabs to venture to S-E Asia next year

Mideast-based PayTabs to venture to S-E Asia next year

MANAMA, BAHRAIN: PayTabs, a premier gateway solution company in the Middle East, plans to venture into South-East Asia next year.

Founder and chief executive officer Abdulaziz F. Al Jouf said the expansion into 10 countries in the region, including Malaysia, Singapore and Myanmar, is aimed at small and medium enterprises (SMEs).

"We are not just giving you the payment solution. But, we are coming with a comprehensive package that makes us different (from other solutions companies)," he said.

Adbulaziz said this at a special session with the media, organised by the Bahrain Economic Development Board.

The plan, he hopes, will boost the company's earnings to between US$600 million and US$700 million a year from more than US$100 million at present.

Having started operations in 2013 and incorporated in Saudi Arabia, PayTabs is co-owned by Saudi Aramco Entrepreneurship Ventures.

It is a payment processing solution and fraud prevention system for businesses, including online invoicing for customers who sell through their websites or social media accounts.

The PayTabs solution features a unique "one stop shop" answer with diversified products fulfilling SME online payment needs without any further hassle. - Bernama
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