PayTabs announces its expansion into card issuance

By Delisha Fernandes

PayTabs Group has announced the launch of PayTabs Issuance, a secure prepaid card issuing solution aimed at scaling business operations, regionally.

PayTabs Issuance, equipped with its own IP and built on globally acquired expertise, is custom designed to empower any business with a solution which includes acquiring, issuing, managing, and controlling payments. It is an orchestration platform that empowers banks, retailers, and corporates to issue cobranded Visa, MasterCard, and debit cards along with other local cards in multiple currencies.

Abdulaziz Al Jouf, PayTabs Group CEO and founder, stated, “PayTabs has teamed up with banks and processors worldwide to help businesses issue cards globally. Using smart tech Orchestration, we’re making it possible for thousands of businesses to execute transactions, access data and scale their operations. Being able to offer cards program gives PayTabs a unique positioning by offering the best of both acquiring and issuance as a bundled solution”

The ultimate objective of the PayTabs orchestration platform is to empower any company, across any market to become standalone and self-reliant in terms of payment processing technology. PayTabs acquiring and issuing orchestration platforms aim to deliver FinTech strategies for any enterprise and create a new line of revenue with zero hassle of building or adapting multiple technology platforms from multiple vendors.

The Card Issuance is aimed at simplifying the complexity and cost barriers that often hinder prepaid card issuance. Powered by the force of BaaS, it is equipped with proprietary technology and an acute understanding of the entire card issuance lifecycle. Moreover, the card issuance is about crafting, customising, and overseeing multiple programs across borders.

This launch has unlocked new possibilities as businesses can anticipate substantial cost efficiencies and solutions including virtual card generation, personalization, co-branding, and value-added services like reward, and loyalty programs.