Securing an acquiring license allows Checkout.com to unlock its full proposition for merchants in the UAE. This means offering merchant acquiring solutions, payment aggregation services, and cross-border fund transfers. Fundamentally, with direct acquiring Checkout.com now has more control over processing outcomes and can drive payment acceptance performance for its merchants.
Checkout.com’s officials said the issuance of this license shows the level of trust, commitment, and strength of the relationship they continue to have in serving both domestic and international brands to expand in the UAE. They’re happy of the small part they’ve played to increase the trust in digital payments and allow businesses in the digital economy to thrive.
The growth of ecommerce in the UAE is forecast to reach a Compound Annual Growth Rate (CAGR) of 11%, increasing its ecommerce market size to USD 17 billion by 2025. This is being driven by 91% of consumers in the UAE now favouring to make their purchases online. Checkout.com already supports some of the country’s brands including Shahid, Qlub, Carrefour, The Entertainer, Namshi, Mamo, MakeMyTrip, Cafu, and Washmen.
Checkout.com added that they’ve continued to invest in their operations in the UAE to serve several hundred merchants such as Cafu, Talabat, Careem, and OSN in the country as they fundamentally believe in the potential of growth in the digital economy here. It’s why they’re scaling their operations in the UAE and opened a new office in Media City to house their growing team of close to 100 dedicated local experts. Their license enables them to offer augmented payment performance for their merchants by having more control over processing outcomes through their powerful platform.
With operations in the UK, EEA, MENA, APAC, and the USA, Checkout.com has a strong focus on enabling its merchants to expand globally and launch in new markets with speed and minimal effort. It’s part of Checkout.com’s ‘local globally’ approach to serving international businesses. The business has been serving the MENA region since 2014, with offices in both UAE and KSA to serve merchants with all major international credit and debit cards – including popular local payment methods such as Tamara, Mada, KNET, QPay, Fawry, OmanNET, Benefit, and more.
For more information about Checkout.com, please check out the company profile in The Paypers Company Database.
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