Payment Orchestration, by PayTabs’ Post

Saudi businesses are optimizing their payment processes with **payment orchestration**! 💼💳 Simplify and manage all transactions seamlessly. https://lnkd.in/dhCVHTbW #PaymentOrchestration #BusinessEfficiency #PayTabsKSA🇸🇦

The Financial Services Sector in Saudi Arabia is undergoing unprecedented change driven by multiple shifts: in customer behavior, in regulatory and government environment and the emergence of new players like FinTechs and NFIs. These shifts are leading to many trends within the financial services industry including emergence of embedded financial services across non-financial customer journey, as well as the emergence of new business models. Embedded finance is about enabling any non-financial business to embed financial services (e.g., payments, lending, savings, insurance, etc) and offering a richer, a more seamless and convenient user experience to customers. We got to further explore the topic with Arjun Vir Singh on the sixth week of #fintechsummersessions24 the Embedded Finance ecosystem has different participants involved; including providers, enablers and embedders. each has a unique business model to engage seamlessly in the process. Unlike the usual narrative of competition between traditional and new banks, we examined examples of successful adoption from traditional banks responding to the opportunity of Embedded Finance. We also discussed the role of new technologies in shaping the future of financial services, as well as the associated risks . 💡Key highlight: Embedded finance can unlock a great opportunity for businesses in different sectors , yet there are many factors that need to be aligned together to realize the full potential.

🌍Payment orchestration is reshaping how businesses in Saudi Arabia handle transactions. 💵 From streamlining multi-provider integrations to enhancing security and user experience, it's becoming essential for scaling operations and supporting digital transformation. ➡️ https://lnkd.in/drG64kpA #PayTabsKSA🇸🇦 | #PaymentOrchestration

🌍Payment orchestration is reshaping how businesses in Saudi Arabia handle transactions. 💵 From streamlining multi-provider integrations to enhancing security and user experience, it's becoming essential for scaling operations and supporting digital transformation. ➡️ https://lnkd.in/drG64kpA #PayTabsKSA🇸🇦 | #PaymentOrchestration

Get ready to meet our PayTech experts at Seamless Middle East & Saudi Arabia Middle East 2024! Stay tuned for exciting updates and insights that will transform your digital payment experience. You won't want to miss this!

Tamam are now live with our Account Verification API! 🚀 Together, we’re simplifying access to credit in KSA, powering the region's first open banking use case for micro-finance. 🙌 Consumers in the Kingdom can now access credit via Tamam in just a few minutes without hassle or complexity. Watch the video below to learn more 👇 #Tamam #openbanking #microfinance #ksa

🚀 Cross-Border Payments in MENA🌍 Exciting times are ahead for the MENA region with two groundbreaking initiatives that are set to transform cross-border payments! 🔗 Arab Regional Payment System (Buna) The Arab Regional Payment System, commonly known as Buna, is an incredible initiative launched by the Arab Monetary Fund. Aimed at enhancing and streamlining cross-border payments among Arab countries, Buna is already making waves with over 100 participants from 14 MENA markets. 🌟 Key Highlights: - Seamless Payments: Simplifies cross-border transactions, reducing time and costs. - Economic Integration: Fosters regional economic cohesion and financial inclusion. - Security: Ensures transactions are transparent, secure, and compliant with international standards. Buna is set to boost trade, investment, and economic growth, reinforcing financial stability across the region. 🔗 AFAQ by Gulf Payments Company Introducing AFAQ, an initiative by the Gulf Payments Company and led by the central bank of Saudi Arabia. This system aims to integrate payment solutions across the Gulf Cooperation Council (GCC) countries and has already onboarded over 50 participants from GCC markets. 🌐 Key Highlights: - Unified Payment Platform: Streamlines cross-border payments within the GCC. - Cost Efficiency: Reduces transaction costs while ensuring reliability through real-time settlements. - Standardization: Promotes standardized payment protocols across GCC, enhancing economic cooperation. AFAQ is paving the way for a more integrated and efficient financial ecosystem within the GCC. --- Both Buna and AFAQ are not just payment systems but pivotal channels fostering regional cooperation and economic modernisation. Their impact on the financial landscape in MENA and GCC is expected to be monumental, driving growth, inclusivity, and stability. #CrossBorderPayments #MENA #Buna #AFAQ #EconomicIntegration #FinancialInclusion #GCC ---

The agreement on interlinking of the instant payment platforms — UPI (India) and AANI (UAE) — will facilitate seamless cross-border transactions between the two countries. This follows the MoU on interlinking payment and messaging systems signed in July last year during PM Modi’s visit to Abu Dhabi. The agreement on inter-linking domestic debit/credit cards — RuPay (India) with JAYWAN (UAE) — is an important step in building financial sector cooperation which will enhance the universal acceptance of RuPay across the UAE. - - - #NiryatBusiness #Niryat #Global #Import #Export #UPI #AANI #CrossBorderTransactions #FinancialCooperation #PMModi #AbuDhabiVisit #PaymentSystems #MessagingSystems #RuPay #JAYWAN #FinancialSector #Cooperation #UniversalAcceptance #IndiaUAE #InterlinkingAgreement #SeamlessTransactions

Choose a payment gateway with more secure options. Odoo- Pesapal allows local and global payment options. #paymentgatewayintegrationservices #paymentintegration

The United Arab Emirates' Ministry of Finance has taken a significant leap forward with its announcement of a new e-Invoicing System set to commence on February 14, 2024. This groundbreaking initiative introduces a Decentralized Continuous Transactions Control and Exchange (DCTCE) model, revolutionizing how electronic invoices circulate among businesses and government entities without direct Tax Authority validation. Here are the significant dates for the UAE's e-Invoicing System initiative:   ✔Q3 2024: Certification requirements for Service Providers and Data Dictionary development.  ✔Q2 2025: Legislation for e-Invoicing.  ✔December 2025: Strategy rollout.  ✔July 2026: Phase 1 implementation begins. For businesses operating across the Gulf, adapting to these varied frameworks necessitates collaboration with knowledgeable service providers, ensuring seamless compliance and continued operational success in an evolving digital landscape. 🔗 READ NOW >> https://lnkd.in/dpB-3dCb  #UAE #EInvoicing #DigitalTransformation #TaxCompliance #CTC #PEPPOL #Gulf