Tap Payments and PayPal partner to expand global reach for MENA businesses

Published March 22nd, 2023 - 10:29 GMT

Tap Payments and PayPal partner to expand global reach for MENA businesses

Tap becomes one of the main partners in MENA to offer PayPal onboarding, operations, and payouts for businesses, providing a one-stop payment solution

Highlights

Tap Payments partners with PayPal to expand payment options for businesses in MENA region

Tap Payments, the leading fintech company in the Middle East and North Africa (MENA) region, announced today that it has signed a partnership with PayPal, a global leader in the payment industry, to offer PayPal onboarding, operations, and payouts for businesses. This offers MENA businesses the convenience of a single partner for all of their payment requirements, simplifies the payment process, streamlines operations, and highlights Tap's unwavering commitment to facilitating seamless payment experiences for its business partners.

Mark Mwongela, PayPal Director for Middle East and Africa said, “We are excited to partner with Tap Payments to bring PayPal's trusted and secure payments to businesses in the MENA region. With this partnership, businesses can leverage PayPal's global reach to expand their cross-border sales."

Tap Payments is now also one of the only PayPal partners that provide businesses with the ability to settle payouts directly to local bank accounts in local currencies in MENA. With this partnership, entrepreneurs and businesses across MENA can broaden their global reach and leverage PayPal's flexibility, convenience, and security which enables them to sell in 200+ countries globally and to 435 million worldwide active PayPal accounts.

According to recent research[1], businesses that offer PayPal as a payment choice can see approximately a 30% increase in sales, and customers who use PayPal spend an average of 43% more money at the retailer overall. This is in part due to the buyer protection and dispute settlement offered by PayPal, which gives customers greater confidence to shop.

Ahmed AlAradi, EVP of Business at Tap Payments, commented, "With PayPal's trusted reputation in the payments industry and its global reach, this partnership opens up new opportunities for growth and increased cross-border sales for regional businesses. We're thrilled about the potential this partnership brings and are excited to continue pushing the boundaries of what's possible in the payments industry."

The launch of this service saves entrepreneurs valuable time and effort, eliminating the need to have a US bank account to access their funds. With this partnership, Tap Payments and PayPal are committed to facilitating frictionless payment processing, enabling businesses, SMEs and entrepreneurs to focus on expanding their businesses globally and achieving their goals.

PayPal has established a trusted and reputable presence in the payment industry with over 435 million active accounts, including 35 million merchants worldwide. As a globally recognized payment method, PayPal provides merchants with convenience, security, and flexibility, making it the preferred choice for businesses worldwide. PayPal's extensive reach and unwavering commitment to providing innovative payment solutions have made it a trusted partner for merchants seeking to expand their business operations globally and streamline payment processing.

Tap Payments and PayPal are committed to providing innovative payment products to businesses and entrepreneurs in the MENA region.

Background Information

Tap Payments

Managing your money is no small task, after all.

But just because we all have to manage our money that doesn’t mean we all necessarily like managing our money… and it doesn’t mean that we’re always the best at it, either. And yet, as business owners and regular consumers alike, we all have to deal with the maddening work of managing our money—every single day, no matter what. You’re probably asking yourself the same questions we were. Isn’t that why we have technology? Weren’t we supposed to be living better and better… not more and more stressed out?

That’s exactly where Tap founders found themselves, once upon a time in the year 2014. Or rather, that’s where they found most Middle Eastern business owners and consumers. They found that, for the world’s leading population of young, wealthy, online savvy, technologically advanced users to still have problems buying and selling things online in their part of the world… Something wasn’t clicking. We live in a world where we didn’t have to deal with drawn out set-up procedures, complicated systems, or inflexible payment methods anymore… but somehow we still were.
We knew there was a better way. And that way was Tap. So, Tap was born in May 2013, in Kuwait—and with it a whole new era of doing business online in the Middle East. Now businesses could finally bill, accept, receive, and make payments online… easier, faster, and smoother than ever before. Payment clearances that used to take days and weeks to setup, now took just a few hours. Integrating local businesses with the global e-commerce platforms became a real possibility.

Now that Tap is around, managing money—and managing it well—became a whole lot cooler.