On the day that Elon Musk made Twitter’s Tweets X rated, a leading technology company halfway around the world was making more fruitful steps toward becoming a regional superapp.
By leveraging Tap Payments’ network of merchants and financial institutions and e& enterprise’s advanced technologies, businesses can offer more payment options in a secure, seamless fashion.
“Our partnership with Tap Payments signifies a remarkable milestone in redefining the digital payments landscape,” said Alberto Araque, CEO, e& enterprise IoT & AI.
“By combining our strengths and expertise, we empower businesses to thrive in the digital era, offering a secure and comprehensive payment acceptance ecosystem. This collaboration revolutionises business transactions, enhancing operational efficiency and customer satisfaction.”
Digital payments and fintech in region showing strong growth
Fintech and digital payments in the region are booming, with revenues from MENAP expected to reach as high as US$4.5 billion by 2025, up from US$1.5 billion in 2022. This is due to economic growth, a strong and stable banking sector, and ongoing digital transformation, according to McKinsey.
“Overall, the region’s positive macroeconomic outlook and the consistently strong performance of its financial services industry provide favourable conditions for the fintech sector’s continued growth,” McKinsey said.
No surprise, then, that e& enterprise is looking to tap into Tap’s digital payments capabilities. Working together, the two companies promise better security for payments, customer data, and fraud prevention.
e& enterprise’s payment gateway, EPG, will provide businesses with a more secure and unified solution, as well as extra services and incentives including currency conversion and acceptance of leading loyalty schemes.
“By teaming up with e& enterprise, we will revolutionise how businesses accept payments by providing an extensive range of digital payment instruments tailored to regional markets,” said Ahmad Alwazzan, EVP and Managing Director of Tap Payments in the UAE.
“This partnership equips businesses with the tools and capabilities to adapt to the rapidly changing payment landscape and deliver enhanced customer experiences."
Operating in the UAE, Saudi Arabia, and Egypt, e& enterprise utilises the power of the cloud, cybersecurity, Internet of Things (IoT), and artificial intelligence (AI).
Founded in 2013, Tap Payments powers more than 100,000 businesses of all sizes across all industries. Tap says its technology products are built for businesses from the region by people from the region, who better understand the local markets.
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