Explained: Online Payment Gateway Solutions in UAE
Payment gateways are defined as a technology that facilitates smooth and secure transactions between buyers and sellers online. It is that page you’re redirected to when you click on “Buy Now” or “Order Now” on website. It is a service that every ecommerce website uses to offer online purchases on their products.
In the UAE, once you get started with your online business, then the next step for you would be to integrate your website with a good payment portal. If you do not use a payment gateway, your customers wouldn’t be able to make any transactions on your website.
Payment gateways aren’t built only for websites. They are also used in physical stores in the form of Point of Scale (PoS) devices wherein you hover or swipe your credit card and enter your bank account pin to make a successful transaction. Whereas in a typical ecommerce website, payment gateways mediate the transaction.
Like a lot of things in business, payment gateways come with a lot of options and intricacies that you must address before you procure one that suits your business needs. In this article, we will cover questions related to payment gateways substantially so you can make a choice.
There is no definite answer on how many payment gateways are in use around the world, but there are some reputable and reliable payment gateways that we’d like to list. In no specific order, these are some of the few payment gateways in the UAE:
Telr: Based in Singapore and Dubai, Telr caters to over 120 nations, which predominantly are developing countries. It can be easily interfaced with Woocommerce, Shopify, and the ilk.
2Checkout: This gateway’s specialty is that it can be used from anywhere in the world. It is totally functional in 196 countries and works in 15 languages and with 87 currencies.
CashU: This payment gateway was originally designed only to cater to the UAE, but today, sees widespread use even in Europe. It’s notable for its modern fraud AML systems.
Paycaps: Paycaps enjoys a huge fanbase in the UAE for its API-driven automation features. It offers high customizability and a user-friendly interface.
CCAvenue: Originally designed only for the Indian market, this payment gateway has taken giant strides even in the UAE. It finds use from small businesses to SMEs to large corporations.
The cost of setting up a payment gateway depends largely on the size of your business but some of the cheapest payment gateways charge a mere AED 100 every month for a small transaction fee of 2.5%. Small businesses typically pay around AED 400 – 500 per month.
The general rule is that the number of transactions made is inversely proportional to the charge per transaction. However, every payment gateway has different plans, so it would be beneficial if you checked out the plans that suit your business.
Since payment gateways are constantly changing, it is not possible to single out a payment gateway as the cheapest in Dubai.
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