Saudi Payments issues Paymob with PTSP certification

Ellie Duncan
18 May 2023

Financial services enabler Paymob has been awarded Saudi Arabia’s Payment Technical Services Provider (PTSP) certification, to provide its payment gateway services to merchants in the Kingdom.

Saudi Payments issued the PTSP certification, meaning that Paymob is now fully operational in the Kingdom of Saudi Arabia (KSA).

Paymob, which operates in the Middle East, North Africa and Pakistan, established an office in Riyadh, the capital of Saudi Arabia, in April this year.

Paymob CEO Islam Shawky

The fintech’s omni-channel payments infrastructure gives merchants more than 40 online and in-store payment methods through a single integration on its gateway, point of sale (POS) devices, and soft POS mobile.

In March, Paymob announced it had partnered with IKEA Egypt to offer the retailer’s customers a wider range of payment options at checkout.

Islam Shawky, co-founder and chief executive officer of Paymob, said: “Obtaining the PTSP certification in Saudi Arabia is a significant accomplishment for us.

“It reflects Paymob’s commitment to our KSA expansion plans, while serving merchants and entrepreneurs across the Kingdom to support their growth with cutting-edge financial technology solutions.”

Shawky added: “We are excited to contribute to the emerging fintech ecosystem in Saudi Arabia and to play our part in driving the Kingdom’s digital transformation outlined in Vision 2030.”

PayPal Ventures, Kora Capital, Clay Point Capital, Global Ventures, FMO, A15 and Nclude have all invested in Paymob.