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PayTabs partners with MEPS to enter Palestine's web commerce market

Wednesday 9 August 2023 10:02 CET | News

Saudi Arabia-based PayTabs has partnered with Middle East Payment Services (MEPS) to enable digital payments in Palestine.

The partnership’s objective is to allow small and medium businesses (SME), ecommerce and web entrepreneurs, as well as creators in Palestine, to use online payment solutions to sell their products on social media platforms and on the internet. The payment solutions provider PayTabs, along with MEPS Palestine, aims to achieve these goals by enabling online payments, recurring payments, electronic invoicing, and access to multi-currency payments, including USD, JOD, and the local currency.

Saudi Arabia-based PayTabs has partnered with Middle East Payment Services (MEPS) to enable digital payments in Palestine.

PayTabs technology and digital payment solutions will provide Palestinian e-tailers and online merchants with flexibility in payment acceptance, as well as the ability to use PayLinks to sell their products via social media channels, including Facebook, WhatsApp, and Instagram. As per Datareportal’s insight, in January 2023 there were 2.95 million social media users in Palestine, which represent 56% of the total population. More than 80% of Palestinians have mobile connectivity, thus generating a significant opportunity for social commerce.

Most cash-driven markets, including Palestine, have seen an increased need for adopting digital payment solutions during the COVID-19 pandemic. Therefore, through the integration of PayTabs’ services, Palestinian retailers may benefit by growing their businesses and offering them financial viability in the online space.

Moreover, the introduction of the ecommerce market in Palestine will improve the economy, having a direct impact on supporting entrepreneurs, digital innovation, and openness to the global trade market. As per PayTabs’ officials, their objective is to fill the regional fintech gap by leveraging the potential of the Palestinian market, and the Levant region.

More information about PayTabs

PayTabs provides the infrastructure for B2B payment solutions, offering a wide range of services, including digital invoicing, QRD code, social media payments, and point of sale. Back in June 2023, the company has announced that Turkey, Azerbaijan, Egypt, the UAE, and Saudi Arabia based micro merchants and freelancers can sell their products over social media with ReelsPay by Paymes. PayTabs allows webpreneurs to accept payments via social media channels, offering buyers secure online payments for a faster checkout experience.

Moreover, the company has announced a partnership with Modirum, a brand that delivers 3D secure solutions, in order to advance digital payment security in the Kingdom of Saudi Arabia. The collaboration aims to provide cost-effective EMV 3D secure authentication solutions for PayTabs’ merchants and banks within the region. 

To enable the growth of UAE ecommerce merchants, PayTabs has partnered with FlapKap in May 2023, offering support to new and existing entrepreneurs to obtain funding. Through their association, SME businesses will be able to increase their e-stores’ integration of mobile social, QR, and online payments via PayTabs’ payment gateway, while also increasing working capital financing from FlapKap. 

MEPS’ input in the industry

MEPS Palestine has been established through a partnership between the Middle East Payment Services Company Jordan and the major banks in Palestine. Currently, the company serves financial institutions and companies, enabling their debit and prepaid card transactions through third-party processing, merchant acquiring, e-payment gateway solutions, and point-of-sale services. 

The partnership between MEPS, Zwipe, and Mastercard, established in June 2023, enabled the launch of a series of biometric payment cards. The companies’ goals are to offer a high level of security through biometrics, thus protecting consumers in the region. 

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Keywords: online payments, payment gateway, social commerce, ecommerce, SMEs
Categories: Payments & Commerce
Companies: Middle East Payment Services, PayTabs
Countries: Palestinian Territory, Occupied
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Middle East Payment Services

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PayTabs

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