PayTabs, the award-winning leader in payments across the Middle East, Africa, and South Asia (MEASA), recently announced that it has acquired a 100% share in Paymes, the biggest social commerce platform in Turkey, according to a press release.
The acquisition announcement comes just a few weeks after PayTabs purchased Digital Pay in Saudi Arabia in November 2022.
According to the terms of the acquisition, Paymes will act as PayTabs’ social commerce platform, enabling millions of independent contractors, small company owners, consultants, personal trainers, and other service providers throughout the Middle East and Africa to get paid right away. The acquisition is in line with PayTabs’ ardent pursuit of tracking merchants throughout their lifecycle in order to improve their payment practices.
Micro merchants have been an underserved section of the ecosystem, and Paymes, with its minimalist social commerce platform, gives webpreneurs the key to entering the mainstream payment market by allowing them to easily build web storefronts and sell products online. The founders of PayTabs believed that acquiring Paymes was the next logical step in line with PayTabs objective to power the global ecommerce economy with the ultimate super payment’s platform after working together for more than a year to introduce social commerce solutions in KSA, the UAE, and Egypt.
Having promoted digital payments in the MENA region for a decade, the partnership with Paymes will allow millions of merchants who trade and sell on social media but lack a legal method of collecting their money to access new social media platforms like Messenger, Facebook, and Instagram. With cutting-edge market differentiators provided by the Paymes platform, such as live cashier inventory management and Paymes Reels, the acquisition gives PayTabs the chance to develop and broaden their payment footprint in the Eurasian regions.
This acquisition enables Paymes to establish itself as a “social commerce processor” in the Turkish market. In order to develop digital and social payments in the MENA area, Paymes, which now serves over 850,000 users in Turkey and Azerbaijan, will take advantage of PayTabs’ market presence.
One of the main advantages of Paymes is that it enables users to create a miniature online store, referred to as a “Paymes shop.” Merchants who would usually pay to have their websites built and constructed by professional agencies can save money by branding and customizing the web store.
