Paymob secures Saudi Arabia's PTSP certification

Monday 22 May 2023 12:06 CET | News

Financial service company Paymob has secured Saudi Arabia’s Payment Technical Services Provider certification to offer secure payment solutions to merchants in KSA.

The Payment Technical Services Provider (PTSP) certification is set to make Paymob fully operational in Saudi Arabia, representing a step into the company’s plan to expand in the region. 

Paymob’s focus is currently on providing small and medium-sized businesses (SMBs) with the needed tools and solutions for their development and digitalisation process, while enabling them with access to multiple payment acceptance methods available in the Middle East, North Africa, and Pakistan (MENAP). 

Following this certification, Paymob will have the possibility to offer seamless, secure, and efficient solutions to traders and companies in Saudi Arabia, including its omnichannel payments infrastructure (designed to enable several online and in-store payment methods within its gateway platform), POS devices, and soft POS mobile. 

Financial service company Paymob has secured Saudi Arabia’s Payment Technical Services Provider certification to offer secure payment solutions to merchants in KSA.

Paymob’s partnerships and product launches

Egypt-based fintech company Paymob offers its clients multiple payment acceptance methods, in addition to several payment solutions and tools. These services were built while focusing on allowing traders to manage their finances, grow and develop their businesses, as well as to make payments securely and easily while using its real-time dashboard. 

Paymob had multiple partnerships and product launches in the last couple of months. 

In March 2023, the firm announced its partnership with IKEA Egypt in order to offer users in the region a wider range of payment tools and options. Customers were set to benefit from multiple new services, such as bank-offered easy payment plans (EPP), digital wallets, client finance options, as well as credit and debit cards. 

The addition of Paymob’s services into IKEA’s payments infrastructure aimed to improve the experience customers have at checkout, and to make the latter’s products more accessible to users from multiple market areas and regions. The tools focused on the different preferences, needs, and demands users might have, as well as the requirements that come with the development of the industry. 

Earlier in the same month, Paymobe partnered with streaming platform Shahid to offer its clients the possibility to pay for subscriptions by using electronic wallets. The API integration enabled Shahid subscribers to pay their fees securely with any local e-wallet, while allowing the company to expand its potential customer base as well. 

In January 2023, Paymob collaborated with Khazenly, a digital warehousing and fulfillment management platform, in order to enable merchants and traders in Egypt to fully digitise their business operations. 

The deal created an end-to-end ecosystem that combined Paymob’s multiple digital payment acceptance as well as payout services with Khazenly’s digital fulfillment and warehousing tools. Traders in the ecosystem were given access to Paymob’s real-time payments reporting dashboard for instant financial visibility. 

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: certification, online banking, digital banking, mobile banking, financial services, financial institutions, financial data
Categories: Banking & Fintech
Companies: Paymob
Countries: Saudi Arabia
This article is part of category

Banking & Fintech


Discover all the Company news on Paymob and other articles related to Paymob in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events