PayTabs to venture into Southeast Asia market next year
MANAMA: PayTabs, a premier gateway solution company in the Middle East, plans to venture into the Southeast Asia market next year.
Founder and chief executive officer Abdulaziz F Al Jouf said the expansion plan involving 10 countries in the region, and among others Malaysia, Singapore and Myanmar, is aimed at the small and medium enterprises (SME) market segment.
“We are not just giving you the payment solution.
“But, we are coming with a comprehensive package, that’s make us different (from other solution companies),” he said.
Adbulaziz was met during a special session with the media, conducted by the Bahrain Economic Development Board here recently.
He said the company is looking at both direct ventures and acquisition of local companies when entering the Southeast Asia market.
Through this plan, he hopes the company’s earnings can increase to between US$600 to US$700 million per annum from more than US$100 million at present.
Having started operations in 2013 and incorporated in Saudi Arabia, PayTabs is a company coowned by Saudi Aramco Entrep r e n e u rship Ventures.
I t is a payment processing solution and fraud prevention system for businesses, including online invoicing for customers who sell through their websites or social media accounts. The PayTabs solution features a unique “one stop shop” answer with diversified products fulfilling SME online payment needs without any further hassle. — Bernama