In the heart of the nation’s prosperous internet shopping field, the careful picking of payment gateway companies in UAE is vital for achieving favorable results. Amidst the varied alternatives accessible among white-label UAE payment gateway providers, Akurateco appears as a distinguished partner. As we navigate the intricate field of services, this article aims to shed light on the diverse array of paying providers, with a spotlight on the distinctive abilities and advantages that position Akurateco as a good choice in the rapidly growing digital transactions sector.
Payment Gateway Market in the UAE
The UAE payment gateway field is experiencing development, as projected by Statista. Predicted to reach an impressive US$28.74 billion in 2023, the total transaction value in the e-payments market indicates robust expansion. Electronic commerce leads the way, contributing significantly with a projected figure of US$18.28 billion in the same year. With an anticipated yearly growth rate of 8.02% from 2023 to 2027, the total transaction value is set to reach an estimated US$39.13 billion by 2027.
These statistics underscore the increasing reliance on e-payment methods in the country, aligning with the overall trend toward a cashless economy.
Primary Payment Methods and Systems Utilized in the UAE
The nation features a vibrant online payment gateway in UAE field, pointing prominent participants out. In less than 20 years industry has grown to a huge market share all over the globe. With new customer needs, constant technology involvement, and a desire for comfort new FinTech solutions come to the scene. Let’s explore key systems to identify what payment gateways are supported in UAE.
Eskaypay
Focus: payment gateway for UAE that caters to high-risk businesses same as to start-ups.
Offering: Processing high-risk transactions is a key value. Provides transparent services, and multiple currency options, and emphasizes systematic and upgraded solutions.
Learn more about Eskaypay in our dedicated article.
WonderlandPay
Global Presence: Based in Hong Kong and serves as a global payment service provider in UAE. World-spread service gives instruments to digital shops for solid transaction processing.
Specialization: Main focus on facilitating worldwide online debit/credit card transactions with other instruments available for digital businesses.
Advantages: Offers competitive processing rates and covers various payment requirements and needs.
Discover in-depth information on WonderlandPay here.
Network International Dubai
Key Services: Simplifies payments through N-Genius devices.
Diversity: Supports various payment processes, including contactless and mobile wallets.
Productivity: Ensures qualified and protected acceptance of money for enterprises among payment gateways in Dubai.
Find out more about Network International Dubai in the article.
Telr
Geographical Reach: Widely known payment gateway in Dubai, serving clients in over a hundred countries.
Flexibility: Enables flexible pricing and supports various integrations.
Reliability: A reliable choice for websites of all sizes.
Check out more information on Telr here.
Amazon Payment Services
Industry Support: Amazon Payment Services provides a world-class solution for enterprises in the MENA region to accept payments.
Client Experience: Assures a hassle-free purchasing experience with significant support from major corporations.
Learn more about Payfort in our dedicated article.
CashU
Pioneer Status: A frontrunner providing electronic payment service for the Middle Eastern region.
Focus: Offers a credible and flexible payment method focusing on handling security.
Check out more information on CashU here.
How to launch a payment gateway in the UAE?
To launch a payment gateway in the UAE, you mainly have two options: either build the one yourself or opt for white-label payment software. In case you choose to go the hard way and create a payment gateway from scratch, investing plenty of time, money, and resources, here are the pitfalls you should know about:
- The licensing and regulation of Payment Service Providers (PSPs), including entities engaged in payment processing and related activities, are under the Central Bank of UAE (CBUAE) jurisdiction. PSPs must obtain the necessary licenses and adhere to regulatory guidelines.
- The UAE has regulations governing electronic payment systems to ensure online transaction security and efficiency, covering data protection, fraud prevention, and using secure technologies.
- Businesses engaged in payment processing in the UAE have to comply with international standards, including the Payment Card Industry Data Security Standard (PCI DSS).
- They are also typically required to implement robust Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) measures.
- PSPs may also need to obtain specific licenses from the relevant authorities, demonstrating compliance with regulatory requirements and ensuring financial stability.
If you seek a more streamlined path to becoming a PSP in the UAE, you may consider a white-label payment solution. This established payment system, crafted by industry experts, is ready for rebranding under your company’s identity, allowing you to resell and market it as your own. White-label platforms come pre-equipped and compliant with all governmental and security regulations required for operation in the UAE. One prevalent type of white-label fintech solution is the payment orchestration platform, which integrates numerous banks and payment gateways under a single umbrella, incorporating state-of-the-art payment technologies.
Best Payment Gateway in UAE
In an industry populated by abundant payment gateway providers in UAE, the Akurateco orchestration platform emerges as the leading choice. Picking up the best payment gateway in UAE becomes more accessible when you have the freedom to combine several commonly used options.
Advantages of using Akurateco instead of Traditional Payment Gateway
Compliance
Akurateco provides payment software that adheres to all required security regulations and international standards, constantly updating compliance to meet the latest industry guidelines. Its software is also licensed by the relevant authorities, enabling clients to operate in the region effortlessly.
Integration
Akurateco’s platform offers a single integration connecting enterprises to 330+ payment connectors, reducing complexity and saving time.
Cost-Effective
Maximize cost savings with Akurateco’s efficient payment orchestration platform, reducing processing costs and increasing revenue.
Versatility
Tailored to meet versatile business needs, Akurateco’s software is designed to drive business growth in various sectors.
Key Features of Akurateco – Beyond Just a Payment Gateway
Akurateco’s Orchestration Platform boasts key features designed to streamline and enhance payment processes for enterprises. Akurateco supports almost many of the UAE online payment gateway.
Data Management
The data from various payment channels is all managed and consolidated in one place, helping businesses with easy control and manipulation of data.
Scam Prevention
Akurateco ensures the security of transactions with a PCI DSS-compliant payment solution, protecting against fraud and handling customer data securely.
Smart Routing
Akurateco employs intelligent routing, enabling businesses to approve up to 20% more transactions, enhancing the overall client experience.
Global Coverage
With connectivity to 330+ connectors, Akurateco provides global coverage, allowing businesses access to a broad spectrum of banks and payment methods.
Customized Pages
Akurateco gives enterprises the ability to customize pages to pay for purchases using UAE payment gateways, fostering clients‘ devotion to the best transaction flow on any device.
Dynamic Currency Conversion
Akurateco supports dynamic currency conversion, providing flexibility in handling transactions involving different currencies, especially beneficial for businesses engaged in international transactions.
SLA 99.995%
Akurateco boasts a high level of service reliability with a Service Level Agreement (SLA) of 99.995%, ensuring minimal downtime and consistent service availability.
PCI DSS 3.2 Certification
Akurateco’s equipment, solutions, and processes are certified under the PCI DSS version 3.2, attesting to the platform’s commitment to maintaining secure transaction processing.
SMS and DMS Support
Akurateco supports both SMS (Short Message Service) and DMS (Direct Marketing Service) payment schemes, offering businesses additional versatility in their payment processes.
SaaS or Cloud Deployment
Akurateco offers flexible deployment selections, allowing clients to choose between three options: Software-as-a-Service model, deploying the system on the dedicated servers, or using the scalability of Amazon AWS cloud infrastructure.
Payment Methods Supported by Akurateco
Each customer is unique and has personal preferences. The business always wins if it can propose several popular options to pay. Every product manager knows how vital to ensure that the client is not stuck on the last step of the customer journey. Convenient checkout plays a pivotal role in converting a user to a client who pays. Akurateco’s platform sustains an assorted range of UAE e-commerce payment gateways and methods. Worldwide platform serves the varied preferences of websites and consumers.
- Debit & Credit Cards: Akurateco helps accept transactions through major bank card providers, offering a widely accepted and familiar paying option for customers.
- Online Transfer Methods: The utilization of online transfer by Akurateco is backed by reliable and efficient payment processing via digital banking services.
- E-Wallets: In response to the evolving popularity of electronic wallets, Akurateco accommodates transactions made through various electronic wallet services, enhancing flexibility for consumers.
- Local Popular Methods: Akurateco ensures suitability with multiple regional payment services recognizing the diversity of preferences in different regions.
Payment Gateway Integration in Dubai, UAE with Akurateco
Payment integration with Akurateco is fast and easy, offering various integration options tailored to consumers’ needs. Platform provides Fast Connectivity With Data API/SDK’s. The flexibility of Akurateco’s platform allows users to connect it to any payment app, market, payment method, merchant, etc. Just pick a Dubai payment gateway that corresponds to your company’s needs, and Akurateco will do the rest.
FAQ
How can I receive payment in UAE?
The first step is to select a reputable gateway provider. Keeping in mind the widespread use of smartphones, make sure that the provider has a mobile-ready solution. Using the abilities of advanced payment gateways in UAE, you can establish a productive system for receiving e-payments. This not only enhances the customer experience but also positions your business to be profitable in the rapidly evolving digital area.
Can Akurateco be integrated with existing business platforms?
Akurateco can be seamlessly integrated with existing business platforms for enhanced paying capabilities.
Does Akurateco ensure compliance with local and international regulatory standards?
Yes, Akurateco is committed to ensuring compliance with all required regulatory standards. The platform is official and covers or required legal rules.
Can Akurateco provide customized paying solutions for my business?
Certainly! Akurateco offers customized e-payment solutions to meet the your exact business needs whatever UAE payment gateway system you would like to connect with Akurateco.
