PayTabs and Nearpay Boost Contactless Payments in MENA

In a dynamic world where technology continually reshapes our daily lives, the landscape of payments is also evolving rapidly. Today, we bring you an exciting partnership that promises to elevate the soft POS payment experience across the MENA region, focusing on Jordan. PayTabs Group, a renowned payment orchestration powerhouse, has partnered with Nearpay, a leading Payment Infrastructure as a Service (PIaaS) fintech brand in Saudi Arabia. Together, they are set to redefine how businesses and customers interact with payments, offering an innovative solution that promises convenience, security, and efficiency.

The PayTabs and Nearpay Partnership

This groundbreaking collaboration aims to enhance the user experience of merchants and customers using PayTabs Touch, the proprietary soft POS application offered by PayTabs across the region, including the MEPS FAST application in Jordan. PayTabs’ soft POS technology represents a revolutionary leap in payment systems, seamlessly transforming smartphones and tablets into swift payment terminals. Gone are the days of bulky hardware; this innovative solution empowers businesses of all sizes to process card payments effortlessly, sly, and efficiently.

User-Friendly Interface and Robust Encryption

One of the critical features of PayTabs’ soft POS technology is its user-friendly interface and robust encryption. It not only simplifies checkouts but also amplifies customer satisfaction. Merchants can now conduct transactions anywhere, from bustling city squares to remote locations, ensuring that no opportunity for a sale is ever missed. This advancement is poised to revolutionise the landscape of mobile payment acceptance, catering to small and micro-businesses, including food cart vendors, pop-up shops, and restaurants offering table-side bill payments.

The Integration of ‘Tap to Phone’ Technology

At the heart of this partnership lies the integration of Nearpay’s cutting-edge ‘Tap to Phone’ technology into the PayTabs Touch app. This innovation allows smartphones or tablets with NFC capabilities to function as contactless payment terminals. Merchants can now transform their devices into secure and efficient point-of-sale terminals, accepting payments with just a tap. Individuals and businesses can readily embrace contactless payments, utilising contactless cards and digital wallets while capturing necessary transaction authentication details.

Embracing the Contactless Trend

The timing of this partnership is impeccable, considering the growing trend towards contactless payments. Security and convenience are paramount today, and PayTabs and Nearpay have answered the call. This collaboration provides a secure and convenient option for merchants and customers, aligning perfectly with the ever-increasing demand for contactless payment solutions.

PayTabs and Nearpay’s Leadership Voices

Eyad Musharbash, PayTabs Regional Head and Operating Partner for the LEVANT Region, expressed his excitement about this collaboration, saying, “Two Saudi fintech brands are joining hands to power contactless payments in the region. We are excited to collaborate with Nearpay to introduce this elevated Soft POS experience to our users. The integration of ‘Tap to Phone’ technology into PayTabs Touch will not only streamline payment processes for businesses but also offer millions of customers a modern and secure payment option.”

Meanwhile, Mohammad Aleban, Nearpay CEO and Co-Founder, added, “We’re excited about our partnership with PayTabs. Integrating Nearpay’s ‘Tap to Phone’ technology into PayTabs Touch is a game changer, streamlining business payments and offering users a modern, secure option. This collaboration sets new standards for contactless payments, reflecting Nearpay’s commitment to transforming the payments landscape.”

Conclusion

In an era where innovation drives progress, PayTabs and Nearpay’s partnership promises to revolutionise the payment experience for businesses and customers. With their combined expertise, they are set to create a world where payments are seamless, secure, and efficient. As the MENA NFC chip market is projected to grow at a compound rate of 7.3%, reaching $1.2 million by 2028, the potential for transformation is limitless. The future of payments is here, and it’s contactless, thanks to the collaborative efforts of PayTabs and Nearpay.

About Nearpay

Nearpay is a Saudi FinTech company specialising in payment infrastructure as a service (PIaaS). The company’s innovative ‘Tap on Phone’ and contactless payment infrastructure simplifies touchless payments, offering businesses a secure and seamless solution for accepting transactions.

About PayTabs

The PayTabs Group, founded by Saudi entrepreneur Abdulaziz Al Jouf, is an award-winning payments solutions powerhouse. With a focus on providing infrastructure for B2B payment solutions, PayTabs facilitates seamless e-commerce and social commerce solutions for merchants and super merchants. Their commitment to innovation is evident in their Soft POS technology and unified payment processing and orchestration platform, which empower governments and large-scale organisations to become independent payment platforms.