Paymes and PayTabs are joining forces by collaborating to empower millions of merchants in the Middle East and North Africa region with social commerce solutions…
Paymes, the payment platform with the largest number of users in Turkey, attracting attention with the investments and awards it has received, is partnering with PayTabs, the leading payment and e-money institution in Turkey. MENA region, which covers the Middle East and North Africa. As part of the merger, Paymes Turkey Office will become the management center for PayTabs’ Eurasian operations, while it will serve PayTabs offices in the MENA region with its social commerce products under the Paymes brand, and deliver its products to the whole EMEA region in this direction. On the other hand, Statisca’s projection shows that the value of social commerce sales will reach approximately US$2.9 trillion by 2026. After the merger, the Paymes and PayTabs teams will undertake to launch products for PayTabs desktops in 2022, with the aim of capturing the majority of the micro-vendor market segment.
PayTabs, leader in payment solutions in the MENA region
PayTabs, the award-winning and leading payments and e-money organization in the MENA region, has been providing groundbreaking online, mobile and social commerce payment solutions for SMEs and e-commerce businesses since its inception. PayTabs provides services in multiple currencies with a focus on payments, in a secure and transparent manner. Using API plugins, PayTabs stands out for its B2B and e-commerce solutions that work seamlessly with “set and run” payment functionality for merchants on websites or online stores. Sellers can be included in the system in real time and can start their e-commerce business within hours. PayTabs also offers digital invoicing services that allow businesses to pay using electronic invoicing, QR code and social media payment links. In 2021, PayTabs launched PT Touch, the first soft POS solution in the MENA market that turns smartphones into a point-of-sale (POS) terminal.
We will work to bring financial freedom to the whole world
Expressing that they are excited to enter a global competition with the new products they will bring to the market in the Eurasia, Middle East and North Africa regions, Paymes co-founder Sabrican Zaim, said, “As the leading social commerce payment platform in Turkey and Azerbaijan, PayTabs, one of the leading payment institutions in the MENA region, we have joined forces. As a global brand, we are gearing up to compete with all of our valuable competitors in Turkey and Azerbaijan, as well as the world’s top five fintech companies globally. With the new planning of our operation in Eurasia, which will include the current office in Turkey, we will activate our services in many countries. In this direction, we will work with our offices operating in the EMEA region and our colleagues of many nationalities to bring financial freedom to the world, regardless of the institution/individual difference. said.
Abdulaziz Al Jouf, Founder and CEO of PayTabs, said: “We see our merger with Paymes as a great opportunity to expand our footprint in fintech. We will shape the future of payment technologies through the global synergy we have created with Paymes. In line with our mission to help grow the e-commerce economy globally, we will facilitate digital payments for millions of businesses and merchants.
We will support the EMEA Region with our teams in Turkey
Paymes co-founder Hasan Jabbarov, who shared details of the merger on management and team issues, also made the following assessments: “We have signed an important energy union agreement with PayTabs. As part of the agreement, our responsibilities will expand alongside different regions, while our managerial titles will continue within the Paymes team. We will assign our colleagues directly to the PayTabs offices in the management of processes related to Paymes products. We will contribute to PayTabs with our new products in the field of social commerce, in which we have experience. In 2022, we will continue to grow our rapidly growing team in Turkey, and we will support the entire EMEA region with our teams in Turkey in technical, commercial and business development areas.
We will grow aggressively by joining forces in the EMEA market
Paymes co-founder Şehlem Akbulut also said that the merger will bring aggressive growth: “As Paymes, we are growing rapidly in our region, and now we are going to expand in EMEA in cooperation with PayTabs. We believe that our growth strategies in this market will accelerate us. Combining the strengths of the two leading companies in their respective regions will greatly enhance the understanding of social commerce and enable us to serve new markets with a stronger structure. We will continue to support the development of social commerce with our new products in the EMEA region, such as in Turkey and Azerbaijan, and above all to support the participation of women in the family economy through social commerce.