Posted on: Sunday May 17, 2020
The rise in UAE e-commerce market has been much significant since past decade. From $2.5 Billion in 2004 to $16 Billion in 2019, followed by KSA, where e-commerce sales reached $7.7 billion mark and this number is expected to grow more in coming times also.
Moreover the demand for online payments has also increased rapidly in the UAE along with development of ecommerce solutions. Whether it’s a startup, a physical store looking to move online, or an existing e-commerce store, it’s important to have a safe payment gateway that’s reliable too. Any professional e-commerce web development company would emphasize on providing a payment gateway solution that’s not only budget friendly but also integrates in a hassle-free manner with preferred e-commerce web development platforms like Shopify, Magento, OpenCart and PrestaShop.
In this post, we have tried to gather some information to help you select the most suitable payment gateway in UAE for your business:
Payfort is renowned payment gateway which accepts payment in 18 currencies. It offers additional feature like fraud protection in additional costs. The setup cost for corporate is AED 6500 while small/medium enterprises need to pay AED 3500 and withholds a transaction cost at 3.0% + AED 2 each.
CashU was specifically designed to overcome the issues of online payment in UAE and support online shoppers during the process of online purchase what they wish as they please. It offer transactions in 13 currencies without any setup fees and approx 7% transaction fee with only 1.00 USD annual charges for maintenance.
Telr has been reputed as one of the few payment gateways in UAE, providing the facility of payments through multiple methods in 100 countries now. They have 3 payment levels: Initial, Small and Medium that’s completely suitable for startups, SMEs and e-commerce businesses where plans start from AED 349/month for entry levels.
4. Innovate Payments
It’s been present in Dubai since 2009, offering specialized online payment solutions to merchants in regions where merchants struggle to find a reliable and yet cost effective payment partner. They support 120+ transaction currencies with a setup fee ranging from AED 1500 – 5000, with additional fee of AED 150 – 500 and transaction fee from 3.00% – 5.00% + AED 0.50; dependent on the account type respectively.
Founded in 2006, this payment portal has now reached 200+ countries. Their fee starts from 3.9% per transaction plus a fixed transaction fee of $.40 and facility to transfer directly in UAE bank accounts. They accept 20+ currencies; however an additional monthly fee of around $10.99 is also applicable. The only favorable thing is charging 5.5% per transaction as a fixed fee.
CyberSource is a fast, reliable and secure payment gateway option in UAE. The monthly charges start from $20 along with setup charges ranging from $0.00 – $200 and 2.39% transaction rates at $0.35 respectively.
Checkout is another leading online payment gateway offering services to UAE through streamlined solution for mobile and online purchasing since 2014. It offers 5 payment methods; VISA, Mastercard, JCB, Mada, and American Express with transaction fee of AED 1.10 + 2.9% of the subtotal. This makes it a preferred option of young entrepreneurs in UAE.
8. CC Avenue
CC Avenue has exponentially grown as South Asia’s largest payment processing company and is widely used by the UAE ecommerce businesses. Its pricing is suitable for all business levels. They offer a zero setup fee, but a monthly charge of AED 200 and rates starting from 3.0% per transaction and a fixed transaction fee of AED 1.00 are applicable.
9. Pay Tabs
Another highly recommended online payment gateway in UAE which was established in 2014. It’s renowned for features like fraud prevention system, create and send invoices through agile technology and innovative security management that’s certified by both Visa and MasterCard. They offer services in 168 currencies with nominal fees of 2.85 % + 1 AED per transaction.
It’s a Saudi Arabia based payment gateway offering their services in UAE also. HyperPay partners 100 banks as well as credit card companies and being equipped with the best security for fraud management. The startup fee is 2.75% per transaction and a fixed transaction fee of AED 0.75
According to our research, the best payment gateway in UAE can be chosen from names like; Telr, Payfort, Checkout, 2checkout, CCAvenue, PayTabs, and Cashu. For integrating any of these to your e-commerce store requires installation of a connection module or development of custom extension.
If you are facing any difficulty in payment gateway integration, we are always there to help! With 8+ years of experience in e-commerce web design and development, we not only help you build an online store but also integrate a suitable payment gateway solution too. We have closely worked with elite business houses in UAE, that’s why we are capable to meet all your expectations.