The most crucial part of any transaction is the payment and with technology advancing everyday the process for accepting payments has changed a few times over the last years. Payment gateways come into play as they provide a “gateway” to accept debit or credit card purchases from customers. This is not only in physical stores where a POS machine is used but also includes the payment processing portals found in online stores. In this blog we will be looking at a few of the main payment gateways used in the UAE.
Stripe
They offer a payment system that is used globally and that accepts more than 135 currencies. Setting up an account takes a few minutes and you can get approval within two to three business days making it a quick and pain free solution to payments.
Fees starts from 2.9% + AED 1 per transaction
An additional 1% is added for international cards
User friendly dashboard
Payouts once a week
No relationship manager
No POS machine
Telr
Telr was awarded with the ”Payments Gateway of The Year ” award towards the beginning of this year at the E-Business Awards 2023 by Entrepreneur Middle East. Telr is thus also a great option as they accept payments in over 120 currencies and you can use certain features in 30 different languages.
Fixed monthly plans with 0%
Flexible plans start from 2.49% + AED 0.5
Dashboard is a available
No POS machine
No relationship manager
Paytabs
Paytabs, which is recognized by both Visa and Mastercard, has an easy onboarding process and provides merchants with an impressive dashboard with all the information and data one might need.
Fixed monthly plans with 0%
Flexible plans start from 2.85% + AED 1
User friendly dashboard
PayTabs Touch – use your phone as a POS
No POS terminal
CCAvenue
CCAvenue is a trusted choice for e-commerce businesses seeking reliable and secure payment solutions in the UAE and beyond. They offer features such as multi currency support, customizable checkout options and fraud prevention measures.
You have the option of set fees or tailored
Customizable payment page
CCAvenue PhonePay / TapPay
A “store front” is provided
No relationship manager
No POS machine
Tap
They simplify online payments and acceptance for businesses with an easy quick and secure experience for people paying on websites or on apps
3 customizable package options
No monthly fees for the Beginner package
Detailed dashboard
Offers payment link options
No relationship manager
No POS machine
Tabby
Tabby is a UAE based payment gateway and they offer a unique way of paying, allowing customers to pay in 4 interest free payments online or in store.
Payment in installments
Interest free
4.5% + AED 1 per transaction
A great addition to other payment gateway options, especially for larger purchases as it makes it more affordable for the customers
No POS machine
Checkout.com
Also a global payment platform that supports business in the UAE and other countries. It offers a unified solution for online payments, various payment methods and currencies.
Tailored pricing
No setup fees
Zero account maintenance fees
Comprehensive reporting
Payment link options
Flexible payout timings
No relationship manager
No POS machine
Magnati
This online payment solution is suitable for all business segments including government, education, hospitality, real estate, automotive, healthcare and more.
POS machine at affordable rates
1.9% for UAE cards
2.5% for international cards
Regular reporting
Access to a dashboard at an additional charge
As seen with all of the above, there are a lot of options to choose from and although some options are global some are not. So depending on where your business is based you need to check whether or not that payment gateway is the best choice for your business.
By working with our Bespoke Accounting team you can save both time and money while having the reassurance and peace of mind that you’re making sound business decisions for your future.
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