Why Saudi Aramco Entrepreneurship Center, Wa’ed, invested in PayTabs

PayTabs is delighted to announce that Wa’ed, the entrepreneurship center of Saudi Aramco, has a partnership in PayTabs. So the question is why did Wa’ed think of becoming a partner in PayTabs?

PayTabsThe biggest dilemma for anyone to start a business online is to collect payments online. This was the main hurdle our CEO had to face too. After knocking the doors of too many acquirer banks, chasing and begging to have an access to a payment gateway he realized that this is not an easy job to do for anyone. At that moment, he thought why can’t we build it ourselves and help others who are deprived of a payment gateway in MENA because of:

  • Slow processing of the application
  • Not many people qualifying the criteria setup by acquiring banks
  • Huge Security deposits

So he thought of making one payment gateway solution to cater the online payment needs of the region. He took the idea and presented it to Wa’ed. The Saudi Aramco Entrepreneurship Center, Wae’ed, loved the idea so much that instead of giving a loan to start the venture they decided to become partners in it.

What is in there for Saudi Aramco’s Entrepreneurship Center, Wa’ed?

Wa’ed Equity advocates an approach that differs from typical Venture Capital functions that focus exclusively on one objective: profit. At Wa’ed Equity, the focus is not only on profit, but also on the creation of quality jobs and economic diversification in the region. Therefore, it is a Venture Capital function with a national agenda supporting companies with a broader vision.

By doing a partnership with PayTabs, Wa’ed acknowledged that PayTabs could be a game changer for this region. The vision was similar, we not only want to generate profit but we also want to make entrepreneurs and help them in starting their business online.

No Hidden Cost, No deposit fee and an ability to start your business even without a website

PayTabs offer a solution that is easy to use at a reasonable cost with no hidden fees charges at all.

This is just the beginning though. Awareness is the key! If you agree that huge initial bank deposits, hidden fees and additional charges are outrageous too, please do tweet, blog and spread the word. Get a free account with PayTabs now and let us take care of your payment processing.

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