tap

Overview

Tap Payments is a leading online payment gateway operating primarily in the Middle East and North Africa (MENA) region. The company offers seamless online payment acceptance and payouts across nine countries in MENA, along with operations in the US, UK, EU, HK, and SG. Tap Payments focuses on delivering secure, reliable, and PCI-compliant payment solutions, providing a developer-friendly environment through APIs, libraries, plugins, and SDKs. Headquartered in Riyadh, Saudi Arabia, the company supports over 20 local and international payment methods, including mada, Visa, Mastercard, Amex, and PayPal.

Key Achievements and Capabilities

• Market Leadership: Tap Payments is the leading online payment gateway in MENA, serving a region with over 570 million inhabitants.

• Innovative Partnerships: Collaborated with Mastercard to launch the world's first 'Click to Pay' service and partnered with Apple Pay for express checkouts, specifically benefiting Shopify stores in MENA.

• Advanced Technological Infrastructure: Known for a high acceptance rate, supported by secure and resilient payment systems.

• Developer-Focused Environment: Provides tools for innovative payment flow creation, catering to developers' needs.

• Strategic Location: Positioned strategically as a gateway to global markets and emerging business hubs.

Leadership Team

• Ali Abulhasan - Co-Founder & CEO: With over 15 years of experience, Ali leads with a focus on technological innovation and strategic vision, positioning Tap Payments as a fintech leader in the region.

• Majed Chaaraoui - Group Head of Operations: Majed oversees market offerings and internal teams, bringing extensive experience in operational excellence.

• Ahmed Alaradi - Group EVP, Business: Ahmed drives strategic business partnerships and growth, leveraging 15 years of experience in telecom, security, and payments sectors.

• Martin O'Leary - Head of Marketing: With 20 years of marketing experience, Martin enhances Tap Payments' market visibility and client engagement strategies.

• Yamen Yaich - Head of Finance: Yamen ensures Tap's financial growth and stability with international experience in finance sectors.

• Anwar Marafi - Group Head of Financial Institutions & Value-Added Services: Anwar leads financial institution engagement and non-payment service expansion with over 15 years in banking.

• Abdulilah Almadan - Governance, Risk & Compliance: With 25 years in international banking, Abdulilah manages governance and compliance, enhancing Tap's operational integrity.

• Fahad Alshatti - Head of Corporate Development & Affairs: Fahad combines experience in corporate development across industries to drive strategic initiatives at Tap Payments.

Market Insights

Tap Payments is entrenched in the rapidly growing MENA eCommerce market, positioned as a vital enabler of digital transformation as regional economies shift towards cashless solutions. Tap provides a reliable payment partnership combined with a large user market, supported by technological innovation and strategic collaborations.

Competitor Profile

Overview

Tap is a notable player in the financial technology sector, offering innovative payment solutions for business and consumer transactions. Renowned for its cutting-edge technology and user-centric platforms, Tap ensures efficient financial transactions across various markets.

Key Personnel

• Richard Dunne - Chief Executive Officer (CEO): Oversees Tap’s strategic direction and operational efficiency, critical to maintaining its competitive edge in fintech.

• Monica Claire - Chief Technology Officer (CTO): Leads Tap’s technological initiatives, ensuring the integration of advanced solutions and superior customer experiences.

Financial Performance

Tap demonstrates strong financial growth with a growing user base and increased transaction volumes, successfully leveraging technological capabilities to expand market share and profitability.

Market Position and Strategy

• Competitive Edge: Tap differentiates itself through robust technological infrastructure and innovative solutions addressing payment processing challenges.

• Strategic Initiatives: Focuses on geographical expansion, targeting emerging markets with growth potential and forming strategic industry partnerships to enhance service offerings.

Recent Developments

• Product Launches: Introduction of mobile payment solutions to meet evolving digital consumer needs, enhancing user engagement in mobile commerce.

• Technological Investments: Significant investments in AI and machine learning to boost payment processing capabilities and offer personalized customer experiences.

Industry Trends and Implications

The fintech industry’s growth is driven by digitalization and the demand for convenient payment solutions. Tap is well-positioned to leverage these trends with its innovative offerings and market strategy, supporting competitive standing and growth potential.