Wednesday 24 May 2023

Dubai-based payments provider PayTabs Group has acquired a 100% stake of India-based transaction processing services provider OGS PayLab, the company said.

Terms of the transaction were not disclosed.

OGS PayLab based in Chennai, India, is a service provider of transaction processing services, turnkey cloud payment solutions and electronic fund transfer Switch solutions in the globe.

PayTabs simplifies a unified payments experience for players in MENA's payment eco system. OGS PayLab, which operates across the USA, Europe, Middle East & Africa, and Asia, further strengthens, and broadens PayTabs niche position in the fintech market.

The acquisition creates an organisation better positioned to serve stakeholders and compete in the global marketplace. It is also expected to result in greater efficiencies and significantly increase PayTabs' market dominance regionally by working the entire payment chain.

In March, PayTabs received mada Payment Gateway Certification from Saudi Payments. As a home-grown Saudi Brand, securing this certification from Saudi Payments is a key milestone for PayTabs as a payment processing superpower engine with a vision to continue engineering and championing payments.