The new initiative will be aimed at expanding digital payment services in Kuwait. As part of this collaboration, PayTabs will launch its Advanced Payments Solutions (APS) under the PayTabs Kuwait brand, offering a range of payment solutions to businesses in the country.
Concept Combined Group Kuwait, a business conglomerate with experience in telecom services, IT solutions, and retail, will help facilitate the rollout of PayTabs' payment technology in Kuwait. The collaboration follows successful testing of PayTabs' services in the local market and aims to meet the growing demand for advanced payment solutions in the region.
PayTabs Kuwait plans to offer secure payment processing tools tailored to Kuwait's small and medium-sized enterprises (SMEs), which contribute 22% of the country’s GDP. The initiative aims to address the gap in local payment services and provide businesses with the infrastructure to manage transactions efficiently and securely.
This move aligns with Kuwait’s broader economic goals, including its ‘New Kuwait 2035’ vision, which focuses on diversifying the economy and enhancing the country’s digital infrastructure. PayTabs Kuwait’s services will include features such as open banking integrations and digital wallets to help businesses adapt to evolving consumer expectations and drive digital transformation in the local market.
The partnership is seen as a step toward improving the digital payments ecosystem in Kuwait, where demand for innovative financial solutions is increasing but remains underserved by existing providers.
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