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# Paytabs acquires Saudi-based Digital Pay
- URL: https://www.techloy.com/saudi-venture-capital-invests-10-million-in-afiyah-fund/
- Published: 2022-11-02T16:44:06.000Z
- Updated: 2022-11-02T16:44:06.000Z
- Author: Acquah Nana Yeboah
- Tags: / Fintech, Saudi Arabia

[PayTabs](https://site.paytabs.com/en/), a Saudi-based payments company focused on the Middle East, Africa and South Asia (MEASA) markets has announced the acquisition of Saudi-based point of sale (POS) provider Digital Pay, for an undisclosed sum.

- This acquisition will allow PayTabs enhance its online and offline payment capabilities and deepen its market presence and commitment to the Kingdom’s Vision 2030.
- Under the terms of the acquisition, Digital Pay will serve as PayTabs’ flagship point of sale (POS) terminal product, enabling and augmenting millions of e-commerce and retail businesses as well as physical stores, hypermarkets, and departmental stores to benefit.
- The aim is to grow the bottom line, revenue, transaction volumes, ticket sizes and the number of transactions for both firms.
- According to data from Crunchbase, Paytabs has raised $41 million and last closed a $20 million series B round in 2017.
- “Our aim is to be the foremost infinite payment platform equation that accelerates the Kingdom’s economy towards Vision 2030,” Abdulaziz Al Jouf, PayTabs founder and CEO said.