PayTabs Group, MENA’s award-winning payment orchestration powerhouse, has partnered with Nearpay, Saudi Arabia’s leading Payment Infrastructure as a Service fintech brand, to offer users across Jordan and other PayTabs markets in the region, an elevated soft POS payment experience.
The collaboration aims to enhance the user experience of merchants and customers that use PayTabs Touch, PayTabs proprietary software POS application across the region, including the MEPS FAST application in Jordan.
As part of its payment orchestration platform, PayTabs soft POS technology is a modern leap in payment systems, seamlessly turning smartphones and tablets into swift payment terminals. This innovative solution streamlines transactions by ditching bulky hardware, empowering businesses of all scales to effortlessly process card payments.
With a user-friendly interface and robust encryption, it not only simplifies checkouts but also amplifies customer satisfaction. PayTabs soft POS technology enables merchants to conduct transactions anywhere, from bustling city squares to remote locations. This enhancement is set to redefine the landscape of mobile payment acceptance, offering friendly and efficient solutions for small and micro businesses. Businesses that sell out of a food cart, vendors running pop-up shops or restaurants that offer table-side bill payments are a key demographic for tap-to-phone payment acceptance.
PayTabs Soft POS, known for its secure features and reliability, will now be powered by Nearpay’s state-of-the-art POS infrastructure. This advancement aligns with the growing trend toward contactless payments, providing a secure and convenient option for both merchants and customers. The focal point of this partnership is the integration of Nearpay’s innovative ‘Tap to Phone’ technology into the PayTabs Touch app.
Eyad Musharbash, PayTabs Regional Head and Operating Partner for the LEVANT region said that, “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.”
“We’re excited about our partnership with PayTabs. Integrating Nearpay’s ‘Tap to Phone’ technology into PayTabs Touch is a game changer, streamlining payments for businesses and offering users a modern, secure option. This collaboration sets new standards for contactless payments, reflecting Nearpay’s commitment to transforming the payments landscape.”
SoftPOS enables smartphones or tablets with NFC capabilities to function as contactless payment terminals. Merchants transform their smartphones into secure and efficient point-of-sale terminals, enabling them to accept payments with just a tap. Individuals and businesses can accept payments from contactless cards and digital wallets on their devices while capturing necessary transaction authentication details.
According to an exclusive report by The Insight Partners, due to the uptake of NFC-enabled wearable technology and the increasing demand for contactless payments, the MENA NFC chip market is expected to reach $1,191.20 million by 2028, a compound growth of 7.3 percent from 2021.