PayTabs Signs MOU to Acquire Saudi Fintech SeaPay
PayTabs Group has signed a Memorandum of Understanding to acquire SeaPay, a Saudi fintech company, from Arab Sea Information Systems Co. The agreement was signed on October 22, 2026, and disclosed on the Saudi Exchange (Tadawul).
It covers the proposed acquisition of 100% of SeaPay, formally known as Arab Sea Financial Company, which is licensed by the Saudi Central Bank.
PayTabs Group is a payment infrastructure company in MENA, headquartered in Saudi Arabia.
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The company said the acquisition would combine SeaPay's technical and operational capabilities with its existing payments infrastructure in Saudi Arabia. PayTabs said the deal would diversify its revenue, expand its merchant services, including its Super App, and support its target of serving 200,000 merchants in the country by 2030.
PayTabs aims to process more than US$100 billion in payments annually by 2030, through acquisitions, regional expansion and investment in payment infrastructure. The group is also considering a public listing as part of its long-term growth strategy.
"PayTabs was founded in Saudi Arabia with the ambition to build payment infrastructure for the region,"
said Abdulaziz Al Jouf, founder, CEO and Chairman of PayTabs Group.
"SeaPay represents an important step in strengthening the economics of that business in Saudi Arabia."
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