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.
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