The integrations not only expand PayTabs' reach within the Saudi Arabian market, but also fortifies its commitment to extend its full stack payment processing services to government entities, financial institutions, and fintechs companies, including those funds and entities overseeing mega infrastructure and development projects.
The key advantage for KSA’s public sector is that PayTabs platform can process exponential payment volumes, encompassing a payment gateway, merchant dashboard, card issuance, merchant super app, electronic funds transfer switch (EFT), and API gateway.
The PayTabs vertical and horizontal issuance and acquiring fintech orchestration platform was conceptualised to service government entities, financial institutions, and enterprise clients with a robust technology stack for both online and offline transactions. The Kingdom’s public sector is one of the most prosperous sectors working to achieve the Kingdom’s Vision 2030. Therefore, PayTabs solutions were designed to provide a secure, scalable, and stable platform that can be customised and developed to keep pace with the goals of the Kingdom’s vision.
In addition to its ability to manage and process exponential payment volumes effortlessly per second through servers located inside the Kingdom of Saudi Arabia (according to the standards and specifications applicable with the kingdom) and holds Payment Technology Service Provider certification with Saudi Payments. PayTabs owns the intellectual property rights for all products offered under its platform.
Tailored specifically for ministries, fintech’s, and public entities, PayTabs platform provides custom-fit solutions available on the cloud, on-premise, or through hybrid models, ensuring affordability and flexibility. The kingdom’s public sector can benefit from launching their own private labelled payment orchestration service on a modular basis, meeting all local data fencing and security requirements which is a key benefit to keep up with Saudi Arabia’s infrastructure development and massive development programmes in preparation for Expo 2030 and the World Cup 2034.
Another advantage is that just like the Kingdom’s ministries have a proven record of delivering some of the world’s most renowned projects, PayTabs has a proven record of facilitating rapid deployment, launching card issuing or a payment gateway in just 5 to 12 weeks, ensuring fast go-to-market.
This new integration is a significant addition to the PayTabs ecosystem. It will allow PayTabs to extend its services to government entities with efficient and secure payment processing and collection. With this enhancement, PayTabs is well-positioned to cater to a broader spectrum of clients, including those in the public sector.
The Payment Orchestration Platform is a culmination of its services under one unified label, streamlining the user experience, and providing a comprehensive suite of payment solutions for all sectors of the economy including SME’s private enterprises, and freelancers.
As part of this orchestration and arrangements with licensed partners, PayTabs now seamlessly enables its technology partners to accept payments through one of the most popular and used payment methods in the kingdom – SADAD which has always aimed to accelerate digital transformation in the Kingdom.
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