PayTabs Group strengthens its commitment to Egypt's digital payments ecosystem with full ownership of PayTabs Egypt
This strategic move marks a pivotal milestone for PayTabs as it continues to enhance its market leadership in the Egyptian digital payments landscape. With the acquisition of full ownership, PayTabs Group is now able to offer even more tailored solutions to meet the needs of Egyptian merchants, power financial inclusion and expand its regional footprint.
'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.
'We remain deeply committed to Egypt's digital payments future, and our focus on innovation and customer-centricity will only grow stronger.'
While PayTabs and EFG Holdings have had a successful partnership in the past, this move marks a new chapter that allows PayTabs to focus even more on advancing its technology solutions, expanding the product offering for Egyptian businesses, and improving financial accessibility across the country.
PayTabs continues to work closely with stakeholders, regulators, and industry partners to contribute to the growth of Egypt's thriving digital economy, reaffirming its role as a key enabler of the nation's transition to a cashless society.
This acquisition aligns with PayTabs' long-term strategy to reinforce its leadership position in Egypt and beyond, creating more opportunities for merchants to grow their businesses and for consumers to experience secure and seamless payment solutions.
This announcement comes in the wake of much media speculation about an IPO on the cards for PayTabs Group in recent months
About PayTabs
PayTabs is a payments infrastructure company providing exceptional solutions that are simple, secure, and scalable to drive local commerce and power financial inclusion across the region. It was founded by Saudi entrepreneur Abdulaziz Al Jouf in 2014, with a vision to power every digital transaction in the region.
Today PayTabs processes transactions in multiple currencies and markets, swiftly and securely. By providing the infrastructure for B2B payment solutions, including digital invoicing for businesses, QR code, social media payments, point of sale and switching platforms, PayTabs facilitates seamless e-commerce and social commerce solutions for merchants, super merchants and governments.
For over a decade, PayTabs has custom built and exported a full stack of game changing solutions. These include mobile applications, hospitality, governmental, education, airline, travel, transport, and biller solutions, to interlink the multi-billion-dollar enterprise market chain in the region.
In 2021, PayTabs launched PT Touch, (MEPS FAST in Jordan) the first soft POS solution in the MENA market to transform smart phones into merchant point of sale terminals. In 2022, PayTabs made a leapfrog move by launching its home owned, globally validated unified payments and orchestration platform. PayTabs unified payment processing orchestration enables governments and large-scale originations to become independent payment platforms to serve their industries.
In 2022, the company acquired social commerce platform Paymes to complement its existing retail portfolio. In early 2023, PayTabs received payment gateway certification from Saudi Payments and was later awarded MENA's Best Merchant Solution and the glowing recognition of Fintech Company of the year. In October 2024, PayTabs became the first in Arab World to be recognized as a top 100 Global Fintech Company, delivering payment technology designed and built in Saudi Arabia to the global fintech arena.
PayTabs has dedicated offices in KSA and UAE and presence in other locales including Jordan, and Egypt. The company is an equal opportunities employer. More milestones on: https://site.paytabs.com/en/
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