Latest news with #AbdulazizAlJouf
Yahoo
27-05-2025
- Business
- Yahoo
PayTabs unveils AI-driven payment orchestration platform
PayTabs Group has introduced a new AI-powered payment orchestration platform, developed over a period of four months in Saudi Arabia. The platform is expected to process transactions exceeding SR 325bn shortly, the paytech said. Additionally, the group has initiated the AI Payment Acceptance Booster project to decrease transaction declines, and a Data Warehouse project aimed at providing real-time financial insights and risk management services. PayTabs Group CEO & founder Abdulaziz Al Jouf said: 'The launch of our Saudi built, AI-powered payment orchestration platform represents a bold step forward, not just for PayTabs but for Saudi Arabia's vision of AI leadership. 'With scalable AI-powered infrastructure, PayTabs is poised to deliver Saudi technology across emerging markets, equipping businesses and financial institutions with the agility to compete globally.' The PayTabs Moderator Platform, an AI orchestration layer, has been developed for banks, financial institutions, and large corporations. This layer offers a unified payment ecosystem control through APIs and is hosted within Saudi Arabia to meet financial sector compliance standards. The technology has already been adopted by financial entities in various markets, including Morocco, the United Arab Emirates, and Azerbaijan, facilitating payment solutions. Since July 2024, PayTabs Group has been integrating AI across its products, operations, and processes. The company has implemented an AI strategy, an AI-driven CRM, AI-powered customer support, and automated KYC/KYB onboarding processes. By July 2025, PayTabs aims to extend its AI services to over a million clients, in line with its digital economy growth strategy with 'IPO readiness'. Last month, PayTabs partnered with Mastercard to enhance digital payment solutions for SMEs in Egypt, utilising Mastercard's network and capabilities to provide a 'white-labelled' digital payments platform for merchants. "PayTabs unveils AI-driven payment orchestration platform " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fintech News ME
27-05-2025
- Business
- Fintech News ME
PayTabs Unveils Saudi-Built AI Payment Platform
PayTabs Group, a MENA-based payment orchestration company, has announced the launch of its upgraded AI-powered payment orchestration platform. Developed over four months in Saudi Arabia, the platform is expected to surpass SAR 325 billion in transaction processing, supporting the Kingdom's financial inclusion and digital transformation goals. Among its recent initiatives, PayTabs launched the AI Payment Acceptance Booster to reduce transaction declines and began a Data Warehouse project aimed at providing real-time financial analytics and risk management services. A key component of its orchestration layer is the PayTabs Moderator Platform, developed for banks, financial institutions, and large corporations to enhance operational efficiency. The AI-powered orchestration platform enables unified oversight of the payment ecosystem through plug-and-play APIs and secure local hosting within Saudi Arabia. This setup is designed to improve compliance, transparency, and operational efficiency across finance and other industries. PayTabs' infrastructure has already been deployed in North African countries such as Morocco, GCC markets like the UAE, and CIS countries including Azerbaijan. The company says its technology is scalable across emerging markets and positions Saudi-developed fintech solutions for broader global application. Commenting on the launch, Abdulaziz Al Jouf, CEO and Founder of PayTabs, said: 'The launch of our Saudi-built, AI-powered payment orchestration platform represents a bold step forward, not just for PayTabs but for Saudi Arabia's vision of AI leadership. With scalable AI-powered infrastructure, PayTabs is poised to deliver Saudi technology across emerging markets, equipping businesses and financial institutions with the agility to compete globally.' Since July 2024, PayTabs has been implementing its AI strategy across all operations, introducing an AI-driven CRM, automated customer support, and AI-powered KYC/KYB onboarding. AI is also being used in fraud prevention, marketing, transaction monitoring, and sales functions. This internal transformation includes restructured workflows, revised engineering priorities, and new approaches to customer support and sales. A structured change management process is being applied across departments as the company transitions to an AI-centric model. By July 2025, PayTabs aims to extend its AI-powered services to over one million clients. The company is also preparing for IPO and further market expansion, as it positions itself for long-term growth in the digital economy.
Zawya
06-03-2025
- Business
- Zawya
PayTabs Group strengthens its commitment to Egypt's digital payments ecosystem with full ownership of PayTabs Egypt
Riyadh: PayTabs Group, MENA's award-winning payment orchestration powerhouse today announced the successful acquisition of majority stake in PayTabs Egypt, solidifying its commitment to driving digital transformation and financial inclusion across 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:
Zawya
03-03-2025
- Business
- Zawya
PayTabs honored as a Future 100 company
The Future 100 List, a national initiative launched by the UAE Ministry of Economy in partnership with the Minister of State for Government Development and the Future, honors enterprises driving innovation and shaping the economy of the United Arab Emirates Dubai: PayTabs Group, MENA's award-winning payment infrastructure and orchestration powerhouse today announced it has been recognized as a Future 100 Company. The accolade was made at a distinguished event held at the St. Regis Saadiyat, Abu Dhabi in the presence of the honorable Minister of State for Entrepreneurship from the UAE Ministry of Economy and the honorable UAE Minister of State for Government Development and the Future. The Future 100 List, a national initiative launched by the UAE Ministry of Economy in partnership with the Minister of State for Government Development and the Future, honors the top 100 enterprises driving innovation and shaping the future economy of the United Arab Emirates. PayTabs was selected from hundreds of shortlisted businesses for its pioneering contributions to digital payments, payment infrastructure, financial inclusion and financial technology across the United Arab Emirates. Mohamad Abbas, Chief Sales and Operations Officer, who attended the felicitation ceremony and collected the award on behalf of the PayTabs Group said, 'We are honored to be recognized among the UAE's most forward-thinking enterprises. This award reaffirms our commitment to powering digital transactions that support businesses, elevates customer experiences and empowers digital economies in United Arab Emirates and across the region. We are thankful to the UAE government for continuing to promote and encourage the development of fintech and innovation'. The Future 100 program highlights high-growth companies across key sectors, reinforcing the UAE's vision for economic diversification and technological advancement. Deployed across the region, including the UAE, PayTabs full stack orchestration platform allows businesses multiple layers of customization to become fully independent payment platforms, with their own design and branding. Using ready-made, compliant technology, it's a fully managed payment solution, including onboarding, transaction monitoring, and reporting, tailored to specific business needs. All engagement models offer flexibility and cost savings to businesses. In October 2024, PayTabs Group became the first in Arab World to be recognized as a top 100 Global Fintech Company, delivering payment orchestration technology designed and built in the region to the global fintech arena. 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:
