Top 6 Payment Gateways in UAE That Your Business Need To Know

Despite the shift towards digital payments, cash still reigns supreme in UAE. Though traditional methods of payment remain common for safety purposes, Europay MasterCard and Visa are being increasingly adopted to securely facilitate online transactions. 

Recognizing this emerging trend, governmental measures have been taken across the region with a focus on building an infrastructure that supports electronic payments - all projected to benefit from 13.67% CAGR growth over the 2022-2027 period.

How to Select Suitable Payment Gateways in UAE

Payment gateways are paving the way for the future. Before shortlisting a payment gateway in UAE, consider a few options. Here are some criteria to look out for:

1. Reliabilities

One of the most common features to look out for in a payment gateway is the reliability factor. When you need to accept payments from clients, you need to have a reliable platform that enables you to accept payments and transfer them from one merchant to another.

Reliability is essential, as you need to ensure your payment gateway will support your payments without incurring downtime.

2. Supported Currencies

If you use a payment gateway for transacting in multiple currencies, it's essential to transact and accept payments from clients in various currencies. 

A good payment gateway should be able to convert currencies into local currency when a payment is received from the customer.

3. Payment Options

A payment gateway should be capable of working with multiple payment options, ranging from mobile payment integration to online store integrations. 

A multi-faceted payment gateway works seamlessly with different platforms. It provides various options to merchants and customers so everyone can access and make payments using their most accessible option.

4. Market Integration

When dealing with different markets, there is always a need to be compatible with the local currencies. This way, whenever you wish to expand your business, your business can quickly adapt and integrate well in different markets and local currencies.

When you have a reliable payment gateway, there is always scope for expansion and integration in new markets.

5. Security

Payment gateways deal with multiple payments collected from different payment sources such as credit cards, online platforms, and other methods. 

Since customer information is prone to hacking attacks regularly, payment gateways need to provide an extra layer of security to protect such confidential information from hackers.

6. Pricing and Other Options

Payment gateways act as intermediaries between merchants and customers. Since there is considerable currency swapping and conversions, it is essential to note the pricing structure and options offered as fees to handle such modifications. 

This way, the involved parties can avoid paying high prices for transacting online via the payment gateways.

What Do you Need to Get a High-Risk Payment Gateway?

To be able to get a high-risk payment gateway for your business, you first need to apply for a high-risk merchant account. Other formalities include high-risk encryption, SSL certificate, 3D verification system, and high-risk customer authentication. Once you have all this in place, there shouldn't be any problem obtaining a high-risk payment gateway.

Top Payment Gateways in UAE

1. Paytabs

Paytabs is a simple yet powerful payment gateway that you can integrate seamlessly with various merchant websites. You can combine the gateway with websites and mobile apps and onboard customers with one click.

Additionally, you can send and receive invoices via various channels such as QRcode, SMS, emails, Whatsapp, and social media channels.

Here are some notable features of Paytabs:

Pricing and Other Fees: 

• Setup fee: Free
• Annual Fee: Free
• Charges on refunds: Varies per user needs
  
• Commission per transaction: 2.7% + AED 1

Accepted Payment Methods:

• Credit/Debit cards: Visa, MasterCard, American Express, STCPay, Knet, Oman Net, and Mada. 
• Other accepted payments: Information not available

Supported Currencies: SAR, USD, AED, GBP, EUR, OMR, KWD, EGP, JOD, and IQD 

Approvals and Onboarding Time: The integration process can take anywhere between 24 to 48 hours.

eCommerce Platform Integration: You can integrate Paytabs with the following:

• Magento
• CS-Cart
• Woocommerce
• Shopify
• Prestashop
• OpenCart
• Expand Cart

2. Telr

Telr is among the most well-recognized names in the UAE market. With a presence in 120 countries, the payment gateway accepts digital payments and is available in 30 languages. 

Some features include social commerce, anti-fraud protection, buy-now-pay-later, QR code payments, and an online store creation tool.

Here are some notable features of Telr:

Pricing and Other Fees:

• Setup fee: Free
• Annual Fee: Free
• Charges on refunds: Varies per user needs
  
• Commission per transaction: Commissions are decided basis of the levels, which include the following:
• AED 349 (entry-level) – No transaction commission
• AED 149 (small level) - 2.69% + AED 1.00
• AED 99 (medium level) - 2.49% + AED 0.5

Accepted Payment Methods:

• Credit/Debit cards: Visa, MasterCard, American Express, UnionPay, STCPay, Mada, and SADAD. 
• Other accepted payments: Apple Pay, PayPal, digital wallets, and Net Banking in India

Supported Currencies: The gateway supports 120 global currencies, including USD, GBP, EUR, and many others. 

Approvals and Onboarding Time: The integration process can take anywhere between 24 to 72 hours.

eCommerce Platform Integration: You can integrate Telr with the following:

• Woocommerce
• Shopify
• Prestashop
• OpenCart
• Magento 

3. Amazon Payment Services [payfort]

Amazon Payment Services, formerly Payfort, is the UAE's second most used payment gateway. It operates in Arabic-speaking countries, namely UAE, Saudi Arabia, Egypt, Qatar, Lebanon, and Jordan.

Here are some notable features of Amazon Payment Services:

Pricing and Other Fees:

• Setup fee: Free
• Annual Fee: Free
• Monthly fee: 
• Charges on refunds: Varies per user needs
  
• Commission per transaction: 2.8% plus extra charges based on the country

Accepted Payment Methods:

• Credit/Debit cards: All major credit cards are accepted. 
• Other accepted payments: Digital wallets, Apple Pay, Visa Checkout, Masterpass, valU for loans, and installments (available only for customers in Egypt, UAE, and the KSA. 

Supported Currencies: All major currencies are supported by Amazon Payment Services.

Approvals and Onboarding Time: The integration process can take 3-5 business days.

eCommerce Platform Integration: You can integrate Amazon Payment Services with the following:

• Woocommerce
• Shopify
• Prestashop
• OpenCart
• Magento
• CS Cart
• Open Cart 2

4. CCAvenue

CCAvenue, an Indian payment gateway, is progressing towards becoming a global brand with its presence in Dubai. Their flexible payment plans cater to different business types, from small businesses to large online stores.

Here are some notable features of CCAvenue:

Pricing and Other Fees:

• Setup fee: Free
• Annual Fee: Free
• Monthly fee: AED 200
• Charges on refunds: Varies per user needs
  
• Commission per transaction: 3% 

Accepted Payment Methods:

• Credit/Debit cards: All major credit and debit cards are accepted. 
• Other accepted payments: Net banking, Easy payment plans, and reward payments. 

Supported Currencies: All major currencies are supported by CCAvenue.

Approvals and Onboarding Time: Information Available on request

eCommerce Platform Integration: All major e-commerce platforms.

5. Checkout.com

Checkout is a well-known name in the digital market, and they are committed to making customers' transactions seamless and efficient. 

Additionally, to make the transactions smooth, Checkout's platform provides customizable and scalable options to businesses to gain valuable insights.

Here are some notable features of Checkout.com:

Pricing and Other Fees:

• Setup fee: Free
• Annual Fee: Free
• Monthly fee: None
• Charges on refunds: Information Available on request
  
• Commission per transaction: AED 0.75 to 2.75 percent of the total volume

Accepted Payment Methods:

• Credit/Debit cards: Visa, MasterCard, Diners Club, American Express, Discover, and JCB. 
• Other accepted payments: Apple Pay, OPay, Google Pay, AliPay

Supported Currencies: All major currencies are supported by Checkout

Approvals and Onboarding Time: Information Available on request

eCommerce Platform Integration: All major e-commerce platforms, such as:

• Astound Commerce
• Cabiri
• WooCommerce
• 5874
• SkyMode
• Shopify

6. 2Checkout [Verifone]

Checkout and 2Checkout are different companies, so it's best to keep them distinct. 2Checkout is a global brand with a presence in over 200 countries.

Here are some notable features of 2Checkout.com:

Pricing and Other Fees:

• Setup fee: Free
• Annual Fee: Free
• Monthly fee: None
• Charges on refunds: Information Available on request
  
• Commission per transaction: 
• 2Checkout 2 SELL: 3.5% + AED 1.28
• 2Checkout 2 SUBSCRIBE: 4.5% + AED 1.84
• 2Checkout 2 MONETIZE: 6% + AED 2.2

Accepted Payment Methods:

• Credit/Debit cards: Skrill, PO, Visa, MasterCard, Diners Club, American Express, Discover, and JCB. 
• Other accepted payments: Apple Pay, OPay, Google Pay, AliPay

Supported Currencies: 87 major currencies are supported by Checkout

Approvals and Onboarding Time: N/A

eCommerce Platform Integration: All major e-commerce platforms

Local Payment Gateways and the Rising Complexities for the Businesses

UAE's business market is evolving, but there are enough problems for online businesses. As per the Dubai Chamber of Commerce and Industry, by 2025, the eCommerce industry will produce $8 billion in sales while capturing 100% internet and mobile phone penetration.

Some common challenges UAE businesses face include the following:

1. Security: Given the high level of hacking transactions, online businesses must invest heavily in security structures to prevent security breaches. Security structures are costly, and businesses must invest capital regularly to ensure their customers' online transactions are securely checked out.

2. Payment options: Payment gateways are a standard option for many online businesses. However, given the security issues, many customers prefer the pay-on-delivery options rather than relying on making payments online.The lack of trust and the use of cash as a payment method continues to plague the UAE economy, leading to distrust in the minds of consumers.

3. Governmental Legislation: To be considered a legal business, UAE businesses must have a brick-and-mortar location to abide by government regulations.

How can inai Help?

In the complex world of payment gateways, finding an option that truly meets your needs is no small feat. To maximize value and flexibility for your business, you would have to consider using a combination of options to gain access to the most advanced features available.

With so many payment gateways offering a unique blend of features and costs, it can be difficult to make the best decision for your company. Luckily, inai provides a payment aggregator platform that consolidates different payment gateways into one unified dashboard – allowing you to utilize all the benefits without compromising on the customer onboarding experience. 

You can manage 50 payment gateways, from domestic to international, right from the comfort of your website. You can save engineering costs, setup time, and effort and reduce checkout time.

Additionally, with inai, you can select your preferred payment method and customize your checkout experience to make the most out of your shopping experience.

You must book a trial and see the benefits unfurl to make the most out of our no-coding platform.