The growth of e-commerce has exploded in the past few years in all parts of the world. UAE alone saw a record $3.9 billion in eCommerce sales in 2020. It constituted 10% of the total retail sales of UAE. While this significant growth is attributed to digitization and the pandemic, another integral reason is the emergence of safe and secure payment methods. Whether you have an online start-up or an offline store, both need quick, safe, and no-touch payment methods. This is where eCommerce payment gateways come into the picture. In this blog, we will discuss all about payment gateways, their benefits, the best 7 payment gateways for ecommerce in UAE, and factors to consider while selecting one for your website.
About Payment Gateways
In simple words, a payment gateway is a technology that helps transfer your money to the merchant’s account on the successful purchase of a product/service. This happens with a secure transfer of data from the customer to their bank, card services, and then the merchant. Payment gateways for eCommerce websites are highly secure and available 24*7*365. People from all corners of the world can use them to make payments. This is also why all online stores are integrating one into their websites and apps these days.
Best 7 Payment Gateways in UAE
1. PayTabs
Established in 2014, PayTabs is known for its quick payment processing and stellar fraud prevention system. Its innovative and agile solutions have enabled businesses to process payments securely. PayTabs’ security has been recognized by both Visa and Mastercard and made it a popular payment gateway provider in UAE.
Features
- Omnichannel payment solutions
- Simple onboarding process and documentation
- Stellar merchant dashboard with all the information on one screen
- 360 payment processing capabilities
PayTabs has a straightforward pricing system. It offers 3 plans: a start-up plan, a growth plan, and an enterprise plan. The start-up plan is perfect for early-stage companies and has a fixed monthly service fee. The growth plan helps drive sales and offers great value. The enterprise plan is for businesses looking to expand on a greater scale.
2. Telr
Telr’s state-of-the-art security and real-time monitoring have made it one of the top payment gateways in UAE. You can integrate Telr into your website in 5 different ways. It offers multiple currencies and operates in more than 100 countries.
Features
- Easy payment processing and supports business scaling
- Anti-fraud protection is available
- PCI DSS Level 1 certified
- Highly responsive and customisable
Telr has 3 pricing plans to cater to businesses and people in different stages. All these plans include all its features. The first plan is a start-up plan which is ideal for early-stage businesses and requires only a setup fee. The second plan is SME which is ideal for small and medium enterprises. The third plan is SME plus which is suitable for bigger organisations.
3. Amazon Payment Services
Previously known as Payfort, it was acquired by Amazon in 2020 and renamed as Amazon Payment Services. The platform is reliable, minimises transaction risks, and accelerates the influx of revenue. This payment gateway in UAE is tailored to meet the needs of different businesses and help you in building better relationships with your customers.
Features
- Supports payment acceptance and business growth
- Offers industry insights service
- Available in 8 countries
- Offers pay in instalment service to customers
- Monitors business performance
Amazon payment services offer a standard plan and customised plan. The standard plan has a fixed monthly account management fee and requires no setup fee. The customised plan is tailored to meet the specific needs of its clients, and prices differ accordingly.
4. CCAvenue
Based in India, CCAvenue is one of the popular payment gateway providers in UAE. What makes CCAvenue an attractive option for businesses of all sizes is its 24*7 on-call support and fraud prevention.
Features
- Omnichannel payment platform
- Multiple currency processing
- Smart dynamic routing
- Easy integration and customisation
CCAvenue charges no setup fee for its basic plan, and the maintenance fee varies as per the plan chosen by the client. The start-up pro plan is suitable for new and small businesses as it charges no setup fee and minimal maintenance and transaction fee. The privilege plan is customisable, and charges vary as per your requirements.
5. Checkout
Popular for its seamless transactions, Checkout is an eCommerce payment gateway that provides a variety of customisable plans to support specific markets. It is a leading international payment gateway because of its stellar user experience, simple setup, and multiple integration methods.
Features
- Multiple integration methods
- Exceptional user experience
- Efficient management of risk and fraud
- Performance monitoring
Checkout offers highly customisable payment solutions tailored to meet the specific needs of your business. You can get in touch through their website for specific details.
6. Stripe
Stripe is known for its innovative solutions for payment processing, fraud prevention, and finance management. It supports more than 135+ currencies and supports revenue optimisation.
Features
- More than 135+ currencies
- Supports increasing authorisation rates
- Multiple integration options
Stripe offers 2 pricing plans: integrated and customised. The integrated plan has no setup and monthly fee and has pay-as-you-go pricing.
7. 2Checkout
Established in 2006, 2Checkout is another popular eCommerce payment processor with presence in over 200 countries. Apart from processing payments in multiple currencies, the platform supports business and revenue growth.
Features
- Supports almost all eCommerce platforms
- Risk management and compliance
- Accelerates time-to-market
2Checkout offers 3 pricing plans: 2Sell, 2Subscribe, and 2Monetize. All three plans offer the option of paying only when sales begin. The setup cost is slightly higher than other platforms, but the multiple benefits are worth it.
Factors to Consider While Selecting a Payment Gateway
Before selecting a payment gateway, ask the following questions.
- Is your gateway internationally accepted?
An internationally accepted eCommerce payment gateway supports your expansion plans and helps you reach a wider customer base. However, if you plan on keeping your business local, a local payment gateway is ideal.
- Does it offer the payment options your users prefer?
Define your target audience before looking for payment gateways. Research their preferred payment methods and then select the gateway that offers them.
- What kind of user experience does it offer?
Using a payment gateway in UAE is essential to building customer experience and loyalty. Test the user experience well before integrating a gateway into your business.
A cost-effective payment gateway will help you stay in business longer and manage even when sales are rough. Determine the setup, maintenance, and transaction fee and check for hidden costs.
- Is the integration process smooth?
Payment gateways for eCommerce websites that offer a hassle-free and simple integration process should be preferred over others. However, remember that customized plans require more effort and resources than normal ones.
- What other services does it offer?
Payment gateway providers generally provide several other services, such as business growth, customer insights, and fraud prevention. Determine your requirements and see if your preferred gateway offers them.
The eCommerce payment gateways we have listed in this blog are all popular in UAE and each comes with its own sets of benefits. So, do a bit of research, weigh the pros and cons of each, compare and then choose the one that fulfils your criteria and suits your needs the best.
Matthew Cooper – Marketing Automation & Operations Manager, Global App Testing
Emily Rollwitz – Content Marketing Executive, Global App Testing
Claudia Jeffrey