PayTabs unveils its expansion into card issuance

PRNewswireNovember 27, 20234 min

As part of PayTabs Orchestration final touches to build fintech domination in the region, this proprietary solution will enable banks, enterprises, and corporates to issue cobranded Visa, MasterCard, and debit cards like RuPay along with other local cards

PayTabs Group, MENA’s award-winning payment orchestration powerhouse announced the launch of PayTabs Issuance ‚Äď secure prepaid card issuing solutions aimed at scaling business operations, regionally. As experienced by PayTabs Group CEO and founder,¬†Abdulaziz Al Jouf,¬†“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.”

Entering into a global cards market valued at $524.9 billion in 2022, and projected to reach $1.2 trillion by 2032, (according to Allied Research) and growing at a CAGR of 8.8% from 2023 to 2032 is something that PayTabs has planned, as part of growing its orchestration platform.

PayTabs Issuance, armed with its own IP and built on globally acquired expertise – is poised to be a game-changer in the fintech industry. It is custom designed to empower any business with a seamless solution which includes acquiring, issuing,¬†managing, and controlling payments. Picture this: a dynamic orchestration platform that empowers banks, retailers, and corporate giants to issue cobranded Visa,¬†MasterCard, and debit cards along with other local cards in multiple currencies. It’s a move destined to redefine payment processing dynamics. The ultimate objective of the PayTabs orchestration platform is to empower any company, across any market to become standalone and self-reliant in terms of payment processing technology. PayTabs acquiring and issuing orchestration platforms aim to deliver fintech strategies for any enterprise and create a new line of revenue with zero hassle of building or adapting multiple technology platforms from multiple vendors.

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