PayTabs Group, a Riaydh-based payment orchestration company, has acquired a majority stake in PayTabs Egypt, reinforcing its presence in the country’s digital payments sector.
The acquisition enables PayTabs to provide tailored payment solutions for Egyptian merchants, expand financial inclusion efforts, and strengthen its regional footprint.
Abdulaziz Al Jouf, CEO and Founder of PayTabs Group, stated:
“We are excited to take this next step in strengthening our presence in Egypt. This transition allows us to streamline our operations and further enhance the value we offer to local businesses, government initiatives, and consumers. We remain deeply committed to Egypt’s digital payments future, and our focus on innovation and customer-centricity will only grow stronger.”
Previously, PayTabs operated in Egypt through a partnership with EFG Holding, a Cairo-based financial services firm.
The acquisition allows PayTabs to focus on advancing its technology solutions and expanding its product offerings for Egyptian businesses.
PayTabs intends to continue working with regulators and industry stakeholders to support Egypt’s transition towards a cashless economy.
The acquisition is part of the company’s broader strategy to strengthen its position in the region.
The announcement follows media speculation about a possible initial public offering (IPO) by PayTabs in the near future.
Featured image credit: edited from freepik
