PayTabs Group to Acquire SeaPay in Strategic Move to Hit $100 Billion Payment Volume

PayTabs Group has signed a Memorandum of Understanding to acquire 100% of SeaPay from Arab Sea Information Systems Company, a move that consolidates the Saudi Arabian payments landscape. For fintech professionals, this acquisition signifies a major shift toward vertical integration, as PayTabs absorbs SeaPay’s acquiring capabilities to control its own transaction economics and infrastructure in its largest market.

What was announced

The agreement, signed on 22 October 2026 and disclosed on the Saudi Exchange (Tadawul), involves the total acquisition of SeaPay, also known as Arab Sea Financial Company. The primary objective of the transaction is to merge SeaPay’s acquiring capabilities with PayTabs’ existing payment acceptance, processing, and switching infrastructure. This integration is designed to create a unified, integrated payments platform capable of serving a broad spectrum of clients, including banks, enterprises, government entities, and merchants.

By internalizing these capabilities, PayTabs aims to diversify its revenue streams and improve the economics of its transactions by reducing external dependencies. The acquisition is a central pillar in the group’s broader strategy to scale its operations within the Kingdom of Saudi Arabia. PayTabs has set a specific target of serving 200,000 merchants in Saudi Arabia by 2030, a goal that aligns with the Kingdom’s national ambitions for a thriving digital economy.

Furthermore, the deal is expected to facilitate the expansion of merchant services, specifically mentioning the development of a Super App. On a global scale, PayTabs Group is targeting more than USD 100 billion in annual processed payment volumes by 2030. This growth trajectory, supported by continued investment in infrastructure and strategic acquisitions, is intended to support the group’s long-term ambition of pursuing a potential public listing.

"PayTabs was founded in Saudi Arabia with the ambition to build payment infrastructure for the region. SeaPay represents an important step in strengthening the economics of that business in Saudi Arabia. By combining SeaPay’s capabilities, we see opportunities to increase revenue and develop new financial services for businesses operating in the Kingdom."

Abdulaziz Al Jouf, Founder, CEO and Chairman of PayTabs Group

The companies involved

PayTabs Group is a prominent fintech entity in the Middle East and North Africa (MENA) region, recognized as a top 100 global fintech company. Founded in Saudi Arabia, the firm has evolved into a payment solutions powerhouse, focusing on building regional payment infrastructure. Its business model encompasses payment acceptance, processing, and switching, catering to a diverse range of merchants and financial institutions. The group has been aggressive in its expansion, utilizing strategic acquisitions to increase its regional footprint and processing volumes as it matures toward a potential public market debut.

SeaPay, formally known as Arab Sea Financial Company, is a subsidiary of the Saudi-listed Arab Sea Information Systems Company. Based in Saudi Arabia, SeaPay provides technical and operational capabilities in the digital payments sector, specifically focusing on acquiring services. The company has worked toward developing innovative payment solutions that meet the needs of local businesses and merchants. Its integration into PayTabs represents a consolidation of Saudi-grown fintech expertise, moving from a subsidiary of a broader information systems firm into a specialized, high-growth payments group.

What FF News has reported before

FF News has closely followed PayTabs Group’s rapid expansion through 2026. In September, the group made headlines with the PayTabs Group Acquires Amazon Payment Services MENA in Major $100M+ Deal, a transaction that significantly boosted its regional dominance. Earlier in the year, the company focused on geographic scaling and product diversity, as seen when Valu Jordan Partners with MEPS and PayTabs to Scale BNPL Across Jordan to expand buy now, pay later services. SeaPay has also appeared in previous coverage regarding its infrastructure development; in late 2023, Salt Edge and SeaPay join forces to empower Saudi Arabian merchants with open banking solutions, highlighting the company's early commitment to the Kingdom’s open banking framework.

What this means

This acquisition signals a maturing Saudi fintech market where the leading players are no longer content with being just service layers; they are becoming the infrastructure itself. By acquiring SeaPay, PayTabs is moving to own the full stack of the payment process, from the merchant interface down to the acquiring level. This puts significant pressure on smaller, specialized payment service providers who may struggle to compete with the transaction economics of a fully integrated giant. It also raises questions for the traditional banking sector regarding how much of the merchant relationship they will retain as fintechs move from being partners to becoming comprehensive infrastructure providers. The move effectively cements the trend of consolidation in the MENA region.