Why Saudi Aramco Entrepreneurship Center, Wa'ed, Invested in PayTabs

Nov 09, 2014, 01:00 ET from PayTabs LLC Holding Company

KHOBAR, Kingdom of Saudi Arabia, November 9, 2014 /PRNewswire/ --

Wa'ed Equity advocates an approach that differs from typical Venture Capital functions that focus exclusively on one objective: profit. At Wa'ed Equity, the focus is not only on profit, but also on the creation of quality jobs and economic diversification in the region. Therefore, it is a Venture Capital function with a multinational agenda supporting companies with a broader vision.

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By doing a partnership with PayTabs, Wa'ed acknowledged that PayTabs could be a game changer for this region. The vision was similar, we not only want to generate profit but we also want to make entrepreneurs and help them in starting their business online. "I believe we are here for the long run, we are here to stay, we are revolutionizing the E-Business payment concept not Only the Ecommerce" said CEO Abdulaziz Aljouf

One of the major reasons why Saudi Aramco's investing wing Wa'ed became a partner in PayTabs was because PayTabs was a unique solution that had the ability to build entrepreneurs in Saudi Arabia. PayTabs can help build businesses and make entrepreneurs by tackling one of the major problems people face when they start an online business; collecting payments online.

PayTabs proved Wa'ed right by signing up more than 1000 customers in a span of 60 days only since its launch from the MENA region only. This has been a remarkable start by this one stop shop online payment solution company, which aims to revolutionize the E-Commerce market in MENA with its innovation.

To celebrate this milestone, PayTabs team held a closed event in one of their regional offices. Influencers, VIPs and some customers were invited to the event. In the event PayTab's CEO shared the experience and stories of PayTabs team in this transitional phase.

The Founder & CEO of PayTabs, Abdulaziz Aljouf showed great promise in near future saying," These are some great moments for us. We reached our first milestone fairly quickly. This proves that our product is great, as we know it. It is really something, which is a necessity for all the SMEs and individual businesses in this region as well as the large one. They had limited options when it comes to online payments; with PayTabs in the market now, they seem to get a solution for all of their online payments."

"PayTabs is enabling, innovative and customizable. It's a great solution to all of my online payment needs. I am very happy with the service," said Mr. Ali Mohsen, one of PayTabs customers.

PayTabs is one of its kind payment gateway with its instant online invoicing system PayPage and ready to integrate eCommerce APIs/Plugins. PayPage is a unique product for entrepreneurs who can collect payments online using it even without a website. With additional features like Express CheckOut PayTabs has introduced some amazing features enabling the customer to pay without leaving the merchant's website.

The biggest advantages that PayTabs offer its all online merchants and retailers are:

  • Quick integration with the website
  • Direct transfer of payments to their bank accounts
  • Dual layered anti-fraud protection through integration with a leading company in fraud management

In addition, all that without the hassle of contacting any banks in their country as this has been taken care of already.

PayTabs has some great products in pipeline. One of it is an online store builder, which will enable the merchants to make their store free and sell their products using the service within an hour. The company also has a built-in 3D secure feature for mobile developers that can be used for collecting payments via Smartphones.

About PayTabs

PayTabs is a company co-owned by Saudi Aramco Entrepreneurship Ventures (Wa'ed). It started its operations in 2013 and incorporated in the Kingdom of Saudi Arabia. The company has 25 employees spread across three countries and is rapidly expanding. The company's objective is to contribute to the relatively untapped eCommerce potential in the MENA region by offering an easy to integrate payment-processing solution. Using advanced fraud monitoring tools, it caters primarily to SME's. To learn more, visit http://www.paytabs.co




SOURCE PayTabs LLC Holding Company