Payment gateways for e-commerce are part of the mechanics of how you do business. They are important, forming the intermediary between your business (the merchant) and the end customer. They securely take and approve payments, just the same as a point-of-sale unit in a retail outlet will do.
So it’s essential to choose the right one that matches your business and delivers the same what you need. Here’s how it works:
- Your client places an order on your website by selecting their product/s and then checking out.
- The information is securely transferred to the payment gateway, and the bank authenticates the requested transaction.
- Once the authentication process has been completed (presuming it’s not declined), the funds are then sent from the customer’s account to the payment gateway and from there on to your company.
- Along the way, the payment gateway will notify you of the progress.
List of E-Commerce Payment Gateways in the UAE
Here are some of the key players in the UAE market – be sure to research carefully to find which works best for you.
Telr
They are an award-winning aggregator and distributor of payments. Startups and SMEs are the focus of their efforts. Their full-stack, feature-rich payment approach has been created entirely in-house. This helps consumers accept payments electronically and via a wide variety of alternative payment platforms, making it highly flexible. Telr is part of the evolution of e-government, consumer goods, food delivery, and services, including taxi apps.
PAYFORT
The mission of PAYFORT is to build a robust eco-system of payments that translates into better conversions and enables the ecosystem of MENA e-commerce. Their trusted, secure payment network allows everyone to shop online safely and quickly, and they serve online shoppers’ needs in all Arabic-speaking and surrounding countries.
Checkout
They use their expertise to empower users, using fluid, flexible financial tools to unlock more value in each transaction. With flexible instruments, granular data and in-depth insights, their end-to-end platform help users move faster. Users can then innovate, adapt to markets, generate excellent customer experiences, and make faster, smart choices.
2checkout
They have become a digital commerce leader in the global digital goods market, enabling software companies to accelerate online sales through any channel, model, and market. To expand payment flexibility and broaden market reach, Avangate acquired 2Checkout, and the joint company was reintroduced as 2Checkout under one name. Now, they power modern digital commerce for global businesses across many industries.
CASHU
CASHU is a secure online payment method developed in 2002 that is safe and secure. The MENA region is considered the first and largest, serving nearly 2.3 million customers with free and simple online payment solutions. CASHU is available at over 75,000 vendors spread across every country and city within the MENA area.
CC Avenue
CCAvenue is a leading Payment Gateway Service Provider, approved to appoint sub-merchants by Indian financial institutions. They accept and verify internet payments through a variety of methods, providing a safe connection between the website of the retailer, the issuing institution, the purchasing banks and the providers of payment gateways.
PayTabs
PayTabs is an award-winning B2B payment processing business designed to provide groundbreaking technology for buyers and sellers to pay and get paid. PayTabs caters to rising small and medium businesses, large companies, and the e-commerce industry by empowering them with various comprehensive payment solutions.
Cheapest Payment Gateway in the UAE
It depends on your needs when it comes to the cheapest alternative. We have, for example, listed Telr already. Their entry plan costs AED 349/month (AED 0 to 20,000 monthly volume) (0 percent of transaction volume, AED 0 per transaction, AED 0 security deposit, AED 0 setup fee). Meanwhile, their medium plan (50,001 and above monthly volume) costs AED 99/month (2.49% transaction fee, AED 0.50 per transaction).
When choosing a gateway it's essential to check the setup fee, monthly fees, commission per transaction, and processing fees. While it is essential to get a reasonable price, it is also essential to ensure that your selected payment gateway is at the top of the line regarding security and anti-money laundering.
How to Choose the Best Payment Gateways?
It’s a tough choice to make, and there are many options on the market. Here are some of the considerations when making your choice:
Support
How easy is it for a client to place an order, the refund process, is there 24/7 support for email and telephone, and what is the typical problem resolution time? You will better understand how the gateway responds to problems you may have in your daily business when answering these questions.
Add-ons
What availability might you need of integration codes, plugins, and other extensions? How well it integrates with your other systems, as well. You can't be sure you're making the right choice for your particular company without understanding how the gateway integrates.
Time
How long does it take to get your money into your bank account? It is simple: you need the money transferred, and any delays could cause serious problems. It is essential to verify this with your gateway.
Cost
Of course, how much the payment gateway costs, are there any hidden fees, are you on a suitable plan, and are you getting real money value because of your current business volume. You also need to look at how you could change or expand your plan if your business were to scale up in the future.
We are happy to help if you find it challenging to execute the payment gateway integration! We can help you build a fantastic online store with strong e-commerce website design and development expertise and integrate your store with any payment solutions. Also, we have had many opportunities to work with UAE customers, so we are confident that all your requests will meet.
We are Commitbiz, Fujairah Creative City Free Zone's official Dubai representative office. We can help if you are looking to open your Dubai e-commerce business or get a free zone license. We handle it all, from visa applications to all the necessary admin tasks, leaving you free to get on with your business.
At Commitbiz Business Setup Consultants, we take care of the end to end lifecycle of your business setup needs. To further inquire about our services, kindly reach out to us at info@commitbiz.com.
