PayTabs Group, headquartered in Saudi Arabia, has expanded into card issuance with the launch of PayTabs Issuance.
The introduction of PayTabs Issuance, a secure prepaid card issuing solution, is a strategic move aimed at scaling business operations regionally. This launch is in response to the burgeoning demand in the Middle East and Africa for digital payment solutions, as these regions progress towards a card-based economy. PayTabs aims to capitalize on this market shift by providing an efficient and streamlined card issuing service.
PayTabs is a dynamic player in the FinTech industry, providing an array of B2B payment solutions. Since processing its first live payment gateway transaction in 2014, the company has expanded its offerings to include digital invoicing, QR code and social media payments, SOFT pos, and switching platforms. PayTabs’ unified payment orchestration platform is tailored to serve governments and large-scale organizations, empowering them to become independent payment platforms and cater to their specific industries.
PayTabs Issuance is a state-of-the-art solution designed to empower businesses with seamless card issuing capabilities. This service allows banks, retailers, and corporate giants to issue cobranded Visa, MasterCard, and debit cards, along with other local cards, in multiple currencies. The platform is custom-built to manage the entire card issuance lifecycle, providing a comprehensive suite of services including virtual card generation, personalization, co-branding, and value-added services like reward and loyalty programs.
The PayTabs Issuance platform is particularly notable for its integration with Banking as a Service (BaaS) and its utilization of proprietary technology and globally acquired expertise. It simplifies the complexity and reduces the cost barriers associated with prepaid card issuance, offering streamlined solutions and effortless processes. The platform’s innovative approach is poised to redefine payment processing dynamics across markets.
PayTabs Group CEO and founder, Abdulaziz Al Jouf, said, “The issuing market is an exponential market and the Middle East is moving aggressively to digitize cash in the region, while in Africa the market is progressing towards building a strong card base dominated economy.”
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