Built with the aim to augment the process of setting up an online marketplace for merchants as well as the digital payments that follow, PointCheckout’s PayLink app offers merchants features such as sending links for remote payment without owning a full online store, as well as setting up a basic online store without having to take assistance from web developers.
Company officials say that hundreds of merchants are now shifting online and are largely depending on digital payments, which has resulted in PayLink’s transactional volume growing in the past year. This has also led the startup to secure over USD 1 million in funding from local investors such as Kuwait-based Arzan Venture Capital, Saudi Arabia-based Hala Venture Capital.
The move to digitisation with cashless and digital payments in the recent past has meant that some merchants haven’t caught up with the changing trends, according to the press release. A 2021 study by Mastercard cited by the company highlights that one of the top three areas that SMEs in the country want to focus on is ‘acceptance of digital payments.’
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