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The Saudi Fintech Tour

Category: Global Events

The Saudi Fintech Tour
Mohab Global Events 0

The Saudi Fintech Tour

Fintech is the short form of Financial Technology and is used to describe the use of technology for the purpose of facilitating financial transactions. However, it is not a new phenomenon as technology has been used by financial services for a long time. However, with the advent of internet and mobile use, the integration of technology and finance has reached a new level. Some of the most prominent examples of fintech products are Automatic Teller Machine or ATMs, mobile banking, Point of Sale machines and Credit Cards.

Fintech is making great strides in Saudi Arabia as people and businesses embrace the new changes. Fintech has received positive inducements from the rise in general economy and innovations in technology. This new trend has helped firms to grow their businesses by providing new services and products to their clients and other stakeholders. In order to ensure that fintech is fully adapted, it is important to create awareness among public and industries about fintech tools.

Evolution of Fintech

While there is no formal definition of fintech, it may be described as the application of technology for improving various financial activities. Thus, fintech may exist in the form of a business model, an application, a product or a process. Though, most of the time fintech involves use of internet, but it is not a necessary ingredient.

Fintech has seen steep increase in its usage and popularity since the mid-2000s. some of the main milestones in the journey of fintech are the launch of Apple iPhone in 2007 and the increased use of cloud computing. The launch of iPhone is a significant landmark as it heralded the era of smartphones. As smartphones became more commonplace and affordable, the use of internet banking also increased. This development allowed the financial services firms to target clients which were earlier inaccessible due to their geographic location.

Similarly, the developments in cloud computing area ensured that the financial services firms are able to store and transmit the data in a secure manner. For financial services, maintaining the integrity of sensitive data is highly important. It is also required to keep up prompt access to the data to provide fast and smooth services. All these prerequisites were facilitated by cloud computing.

Apart from these two factors, there are several other growth drivers, pushing the fintech market ahead. Today’s customers are less rigid about their financial services practices and are more amenable to using newer technologies. This willingness to embrace change made it easier for financial services firms to roll out new innovations. Further, the sector has seen interest from institutional investors as well. The injection of capital in the area allowed the firms to invest in research and development activities, ensuring that the newer technologies are developed at a fast pace. All these factors combined to make fintech mainstream in a short period of time.

About the Fintech Tour

Fintech Tour organized by Fintech Saudi is a cluster of events and activities hosted by Fintech Saudi’s partners to spread knowledge about fintech and support the development of fintech companies. To date, the Fintech Tour is the largest cluster of fintech events to take place in the Middle East.

Fintech Tour 19 will take place from 1st December – 12th December 2019 across Saudi Arabia and in selected international cities.

Themes this year are spreading fintech knowledge and accelerating fintech entrepreneurship

The Tour will consist of community events and workshops (open to everyone) organized in different cities by Fintech Saudi’s partners related to the themes. Fintech Tour 19 promises to be the most high-profile series of fintech events to take place in Saudi Arabia as it is an effective way to engage with the Fintech Community and other stakeholders.

About PayTabs

PayTabs is proud to be a part of the Saudi Fintech Tour, spreading knowledge about fintech. Join a workshop on the Future of Payments in KSA, presented by Ali Alshehri, Country Manager, PayTabs KSA. Register for the event here:

5 years ago
RAK International SME FAIR
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RAK International SME FAIR

To provide an opportunity for small and medium-sized enterprises to showcase their products and network, RAK SME together with RAK chamber and RAK expo have organized an international fair. It is scheduled to be held from 14 to 16th November 2019 at the Ras Al Khaimah exhibition centre in UAE

The fair will be attended by over 200 exhibitors from different countries, providing an excellent opportunity for businesses to collaborate. Participants will also be able to listen to business pioneers and leaders via informative workshops and panel discussions.

Meet & Collaborate

While SME events are a common way to achieve new sales and meet prospective clients, RAK International SME FAIR offers several unique advantages

  • Targeted Approach: RAK International SME FAIR follows a very targeted approach to provide specialized services. The event restricts itself to a well-defined number of categories so that each segment is well represented. The main sectors participating in this fair are food & beverage, energy & sustainability, technology & entertainment and furniture & office supplies. Apart from these sectors, the fair is also going to witness participation from businesses that engage in healthcare, wellness & medical segments, trade & business and beauty & cosmetics. The fair will also encompass several other industrial segments to provide a holistic view of the small and medium scale enterprise market in the UAE and globally.
  • New Products & Services: The key objective of the fair is to provide a platform to SMEs to showcase their new products, services and integrated solutions. As businesses from a large number of industries converge at the event, participants will get an opportunity to fulfill their business requirements under one roof. Whether you are looking for legal services for your new business or you want to develop software for your operations, rest assured you will get a wide range of options to explore here.
  • Networking: The fair is set to attract over 200 participants from a wide range of industries. The occasion thus offers a great opportunity to revive old ties or form new alliances. Attendees will get to interact with representatives from diverse number of industries. So, If you are looking for new collaborations within your industrial segment or are planning to enter a new business field, here, you can meet people with expertise in different areas to widen your horizons.Masterclass sessions on business expansion and sustaining SME growth will be particularly useful.
  • Learn New Developments: As this fair is a platform to let exhibitors and visitors interact, it offers a great opportunity to learn about new market developments. Here too, masterclasses and workshops on innovation and facing the future will prove to be relevant to the audience.

 

PayTabs participation at the RAK International SME FAIR

PayTabs is a leading B2B payment processing service provider in the region. The business is set to showcase its payment gateway solutions at the RAK International SME FAIR over the three days. Drop by, speak to the team and learn more about how they can power your payments, globally.

5 years ago
How to Monetize Your Talent
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How to Monetize Your Talent

Whether you are a genius in the kitchen, or you can weave magic with your knitting pins, there are always ways to turn your talents into viable business opportunities. Though this is not always easy to do, it becomes all the more challenging if your talent is still hidden and needs to be brought out. So, here are the top tips to help you bring your talent to the fore and enjoy its full potential.

  1. Identify Your Talent: Have you been complimented for your elegant choice in clothing often? Then probably you have a hidden talent for identifying fashion trends and translating them into practical ideas. Even if you lack formal training in fashion, you may have a special knack for cuts, styles, colors and patterns. So, take a close look at yourself and seek out the things you are good at. And while some talents may be a little more difficult to monetize than others, don’t let money be the main criterion for identifying your passion.

 

  1. Design a Business Plan: You can start with building a business plan which will help you identify your end goal. For example, you will be able to decide whether you want to pursue your hobby as a full-time business or as a part time money generator. It will also let you identify major expenses associated with your potential business and the means to fund them. You can also think about taking the assistance of professionals to ensure that all the rules and regulations are complied with. You can get such advice at the upcoming Uncover Summit, where Aliaa, the PayTabs QA lead, will be speaking on relevant topics.

 

  1. Think Out of the Box: Monetizing a hobby is a complicated task which requires patience and some innovative thinking. By working in a step by step manner, you will be in a position to draw up a practical and manageable way to execute your vision. By thinking out of the box, you will be able to come up with new ideas to monetize your hobbies. For example, if you are looking to convert your hobby into a business without leaving your current job, you may have to think about alternative ways to manage your time to accommodate new activities.
  1. Create a Brand and Promote: Once you have decided the talent you plan to bank upon and have drawn a business strategy, it is important to create a brand. In today’s highly competitive world, it is important to have unique propositions which will help you in carving a niche for yourself. Come up with a descriptive business name and an attractive logo to help people retain information about your business. Designing a comprehensive marketing plan will also allow you to utilize your resources in the most efficient manner. Further, network as much as you can to create a pipeline of resources and market opportunities.
  1. Be Prepared for Challenges: While turning your hobby into a business may seem like a dream way to earn a living, the truth is somewhat more modest. Before taking a plunge, you need to ensure that you are truly devoted to your craft and that materialistic goals will not negatively impact your passion. The added pressure of generating revenue from a hobby may leave some people frustrated and unmotivated. Also, be prepared for the setbacks in terms of acceptance of your work and reviews.

 

Overall, you need to start acting like a businessperson to make your talent flourish. This road will not be always smooth, but with determination, planning, and creative thinking, it can take you to a very pleasant destination indeed.

6 years ago
PayTabs Wins Prestigious FiNext Top Companies in Payments Award
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PayTabs Wins Prestigious FiNext Top Companies in Payments Award

Ever since it started operations in 2014, PayTabs has been single-mindedly focused on one thing – use robust technology to help small and medium businesses make simple and secure online transactions. The company has worked towards building innovative solutions to make the world go cashless and embrace new possibilities of accepting payments. It goes without saying that they are proud of the value and opportunities created for more than thousands of payment partners. And it cannot be more satisfying when others recognize this as well.

“After careful consideration and extensive research our awards committee is happy to let you know that ‘PayTabs‘ has been selected for the Top Companies in Payments Award”

                                                                -FiNext Judging Committee

The recent award won in Singapore was collected by their distinguished Philippines Country Manager, MayFlor Jalandoni, at the latest FiNext Conference held on 25th-26th April, at Marina Bay Sands, Singapore.

FiNext Acknowledges the Torchbearers of Global FinTech Sector

FiNext is dedicated to bringing the global FinTech sector under one roof. They allow start-ups, investors, SMEs, incumbent tech providers, financial institutions and other stakeholders to connect and interact with industry innovators. This was the primary idea behind the FiNext Awards Singapore 2019. The FiNext ‘Top Companies in Payments Award’ is one of the premier business awards for achievement in the global payments sector.

While nominees were judged on 5 parameters – Spirit of Innovation, Overall Reach, Industry Impact, Future Readiness, and Market Demand, PayTabs walked away with the highest award distinction for companies specializing in the payments sector – the Top Companies in Payments Award. The judges agreed that PayTabs was a pioneer in the way it had impacted the global payments industry. And, that their brilliant insight and future readiness ensured they also captured the spirit of innovation.

PayTabs Innovative Approach

PayTabs has been providing a smooth way for entrepreneurs, financiers, practitioners, innovators, and enthusiasts to forge partnerships, grow businesses, and access global markets. They hold on to their core system of values to create a unique and secure gateway to their clients. Their smart dashboard is second to none in the way it helps businesses manage their deposits from one platform to the other. The fact that PayTabs gateway is equipped with a PCI DSS certification and anti-fraud protection allows them to enjoy global recognition.

With the latest award conferred upon them (among a series of other highly notable awards), PayTabs is geared to become a leader and pioneer in the payments gateway space.

Standing up to market trends 

The FiNext judging committee acknowledged hand-picking PayTabs from a list of incredible nominations. What worked in the favour of PayTabs was its ability to measure up to ongoing market trends and foresee client needs. They had increased their market demand by addressing these requirements of the market and responding uniquely to emerging trends. With the latest award, PayTabs continues to enjoy a successful journey as one of the premier payment gateway providers in the world.

About PayTabs:

PayTabs is a Saudi-based company that facilitates processing of online payments securely and efficiently. It was founded by Saudi entrepreneur Abdulaziz Al Jouf.

PayTabs caters to small, medium and large enterprises via different business models. PayTabs offers clients services to seamlessly ‘plug and play’ various features on to their websites. It prides itself on offering simple and EFFICIENT invoicing services for merchants and professionals.

PayTabs was awarded the title of ‘Fintech Company of the Year 2018’ at the prestigious Arabian Business Achievement Awards.

With dedicated offices in Saudi Arabia, UAE and presence in Bahrain, India and the Philippines, PayTabs is fast emerging as the preferred payment solution company.

6 years ago
Women entrepreneurs making big strides in UAE
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Women entrepreneurs making big strides in UAE

UAE presents a big business opportunity for women looking to launch their business. Women comprise a dominant 70% of the graduates that pass out of universities and 44% share of the workforce. Further, the gender gap in early stage entrepreneurship is already narrowing, with 7.6% women founders as against 11.8% men founders.

Leveraging the PayTabs advantage

PayTabs has always been in the forefront of embracing changes – be they technological innovations on the digital payments front or changing socio-economic equations of empowering women wanting to take the entrepreneurial plunge. Reinforcing this strategy, PayTabs is participating as a featured exhibitor in the Women Entrepreneurship Summit (WES) MENA, scheduled to be held on 22 April, 2019 in Dubai, UAE.

What is the significance of this event?

This invitation-only strategic summit aims to bring together established and aspiring women entrepreneurs across MENA region. It works on the profile sharing concept. It provides a platform to encourage and facilitate female-led entrepreneurship by enabling knowledge sharing and interaction between business women from women-centric organizations and SMEs. Despite the success of women-run businesses, there is still a lot of ground to cover. Women entrepreneurs face several challenges like access to finance, coaching and mentorship channels, networking opportunities and knowledge about the various aspects of running a business, like the changing regulatory regime and digital payment solutions, etc. While the former constraints would be deliberated upon in brainstorming sessions by the participants, PayTabs would effectively tackle the last with its innovative online payment solutions.

The PayTabs’ boost to female entrepreneurship in UAE

The shift from an oil-driven economy to a tech-enabled ecosystem is encouraging women entrepreneurs in diverse sectors. As per a recent survey, women in the GCC manage $385 bn worth of assets in SME businesses. Thus, women entrepreneurs ranging from cup cake owners, florists, financial service providers to fashion consultants, film makers, designers, etc are gradually making a name in the SME space. Being technology driven, these start-ups need digital access to global markets and the capability to accept online payments. This needs to be achieved without necessitating a physical presence in every geography to enable receipt of customer payments. This is where the adoption of PayTabs can prove to be a game changer for lady entrepreneurs. PayTabs, an award-winning digital payments company with strong roots in the MENA region boasts multi-integrated payment options via Visa, MasterCard, American Express, SADAD, Mada and more, using a single API. The PayTabs sales team would be ready and willing to answer all queries related to digital payments and how a payment gateway can be seamlessly integrated into the existing web portal.

PayTabs offers a suite of online payment solutions suited to the unique needs of SMEs and start-ups, supporting over 168 currencies. Further, with PCI-DSS certified, 3D secure authentication, 24*7 customer support and a dual-layer fraud protection system, PayTabs ensures that transactions are 100% safe and secure. Thus, business women can completely focus on running the business, and leave the worries about the payment processing and digital receipts to PayTabs.

If you are a female and entrepreneurship is your calling, UAE is the place to be in the MENA region. With PayTabs unlocking whole new possibilities in digital payments, a lady entrepreneur can conveniently accept online payments from across the globe. PayTabs can be a reliable partner in your entrepreneurial journey. Think cashless, think PayTabs! Save the date.

6 years ago