PayTabs acquired a 100% stake in Paymes, Turkey’s social commerce platform. Through the acquisition, Paymes will serve as PayTabs’ social commerce platform enabling freelancers, artisans, consultants, home-based business owners, and micro vendors across the Middle East and Africa to receive instant payments.
The acquisition is in line with PayTabs’ goal of following merchants across their lifecycles and elevating their payment habits. Paymes enables webpreneurs to enter the mainstream payment market by creating web stores and selling online with minimum effort.
“Payments are a commodity and our mission is to ensure that payments are easily made available to every customer segment from the super merchant or bank to a nano merchant. By acquiring Paymes, we are consolidating our position as the only payment solutions powerhouse that has a payment orchestration platform to offer payments solutions for any business size – micro or macro, across the globe,” Abdulaziz Al Jouf, Founder and CEO of PayTabs Group, said.
The acquisition provides an opportunity for PayTabs to grow and expand its payment footprint in the Eurasian markets. With the launch of Paymes in 2023, Uzbekistan, Jordan, and Georgia are new markets that are being targeted.
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