PayTabs also aims to launch into the entire MENA region in the coming months.
According to AbdulAziz AlJouf founder & CEO of PayTabs, ” One of my many ventures was an Online Retail Store. We had great products but we always had issues with accepting online payments. I faced the same problem that millions of others in this region face. Then one day, I said to myself that why do we have to wait for someone else to make a payment solution? Why don’t we do it on our own and this is how we started working on it. It took years and with a team of developers and other specialists we built it considering the problems of the end users, because at one point of time, we were the end users ourselves.”
PayTabs is launching right on time. The Middle East E-Commerce market is expected to reach a staggering $15 billion by 2015 but still SME’ have no suitable online payment service provider to cater to their needs. PayTabs intends to accommodate the needs of all the online retailers as well as all those who aspire to starting a business online with its simple solutions.
The service apparently comprises of two premium solutions; PayPage, the online invoicing system and eCommerce plugin & API integration which are ready to integrate APIs with any eCommerce website in the Middle East. The online invoicing is a very unique feature that can be used for online payments even if you don’t have a website and has been designed to serve the needs of the smallest online entrepreneurs.
The biggest advantage that PayTabs is offering to all online merchants and retailers is quick integration and the direct transfer of payments to their bank accounts with dual layered anti-fraud protection through integration with a leading company in fraud management.
Am not sure about PayPal but PayTabs is beta testing a mobile solution with built-in 3D secure feature for its mobile developers and users. The firm also plans on launching an eStore online shop builder platform for anyone to build their shops online in a couple of minutes to be a part of this huge eCommerce market. PayTabs is backed by Saudi Aramco Entrepreneurship Ventures (Wa’ed).