The demand for eCommerce websites in the UAE has increased dramatically and continues to grow at a rapid rate. According to reports, revenue in the eCommerce market was UAE is projected to reach US$5,351 million by the end of 2020. The revenue is expected to show an annual growth rate of 16.2%, which will result in a projected market volume of US$9,700 million by 2024.
And with this surge in eCommerce, the demand for secure, flexible and efficient online payment gateways has also increased.
Whether your business is a small start-up, a large brick and mortar store that intends on moving online, or a well established eCommerce site, it is vital that you have a safe payment gateway that is able to grow as your site expands.
Here, we take a look at the best payment gateway options for eCommerce websites in the UAE.
Choosing the Best Payment Gateway for Your eCommerce Website
When it comes to choosing the payment gateway for your website, consider the transaction fees, payment support, customer service, supplier convenience and development policies.
Below we outline the top payment gateways in the UAE:
TelrTelr is one of the most well recognised payment gateways available in the UAE today. The gateway is popular as it offers a variety of payment methods. The payment gateway is present in over 100 countries and is consistently updating its payment methods to make sure it offers the most advanced and efficient service. Their full stack, feature rich solution was built completely in-house which allows them to fully customise the gateway experience for their customers, enabling users to accept payments through a variety of payment channels. The payment gateway is popular for start-ups and SME’s, as the company designs its solutions specifically to suit these type of business requirements.
PayFortPayFort is an Amazon company that operates in Arabic speaking countries and the surrounding areas, such as the UAE, Lebanon and Qatar. What sets PayFort apart is that it accepts and proceeds a variety of online payment options and methods with the highest security, minimising any possible transaction risks, helping boost your revenue. As the site is tailored specifically to trends within Dubai and its surrounds, it is a great option for an eCommerce site that is based within the UAE.
CheckoutCheckout is an international eCommerce gateway that is known for making their payments seamless and they are dedicated to helping their clients gain more value with every transaction that takes place on their eCommerce site. Their end-to-end platform is designed to help your business move faster, and they offer a variety of customisable and flexible tools, providing granular data and deep insights. The platform is able to adapt to your specific market and create an outstanding customer experience.
CashuCashu is located in Dubai, UAE, and is widely considered the original and largest online payment company in the Middle East as well as North Africa. Cashu is an exceptionally secure gateway and makes use of modern fraud prevention technology to avoid any possible risks associated with online transactions. What sets the company apart is that every transaction made on their gateway is guaranteed without any risk of chargeback. The payment gateway ensures you will be able to grow your company on a local and global level.
Established in 2014, PayTabs is a gateway in the UAE that is well respected for its leading edge payment processing and fraud prevention solution. The online gateway is secure as well as flexible. It is designed to help e-commerce businesses receive and make payments online easily, and the system can create and send invoices through unique and dynamic technology. Paytabs is easy to integrate and setup. If you need help with Paytabs, Nexa can help fast-track your setup process.
Since we published this article, global technology company Stripe, renowned for building economic infrastructure on the internet, has launched in the UAE. This launch represents the company’s first expansion into the Middle East, having opened offices in Dubai Internet City. Now, businesses operating online in the UAE are able to use Stripe to accept online payments, mitigate fraud, make payments and expand globally to reach customers all over the world. This also means that businesses already using Stripe can make their business offerings available to the UAE with ease.
As a payment gateway, Stripe is highly renowned as it is fast and easy to implement while also being cost-effective. Founded in 2010, Stripe powers the transactions of some of the world's biggest brands including Pinterest and Lyft. With the ability to handle over 135 currencies, it has become a common solution for companies that do business internationally; it's ideal for the UAE. In fact, some of the UAE’s most innovative businesses such as ChatFood and WeKeep have taken part in Stripe’s pre-launch beta testing and are now using it to power payments in the region. Global brand Glofox is also now using Stripe in the UAE. Stripe is set to be one of the leading payment gateways for the region.
There are a variety of payment gateways to choose from when it comes to your eCommerce site in the UAE. It comes down to what you want to achieve with your business and the goals you have set for your site. It is vital to speak with professional eCommerce developers to find out what payment gateway will best suit your specific needs.
At Nexa, we provide consultancy to new eCommerce retailers ensuring success-related components such as Social Media Marketing, Search Engine Optimization, PPC and Email Marketing are used to help you gain even greater online success.