Tap Payments has partnered with PayPal to offer onboarding, operations, and payouts for businesses in the Middle East & North Africa (MENA), the company has announced.
The deal makes Tap Payments the first payment partner in the region that can both enable PayPal as a payment method as well as fully managing each of these stages, the company explained in a blog post on March 20.
“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,” said Mark Mwongela, PayPal Director for Middle East and Africa.
A key benefit of the deal for businesses is the ease of having a single partner for a range of payment requirements. In addition, Tap Payments said users will be able to settle payouts directly to local bank accounts in local currencies, eliminating the need to retain funds in a PayPal wallet or establish a USD bank account to access them. This will save both time and effort, the company said.
With 435 million active accounts and 15 billion transactions, PayPal has become a globally trusted payment method that offers convenience and security to merchants.
Ahmed AlAradi, EVP of Business at Tap Payments, added: “With PayPal’s trusted reputation in the payments industry and its global appeal, this partnership opens up new opportunities for growth and increased cross-border sales for businesses within our ecosystem. 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.”
