According to the press release, the launch represents Stripe’s first expansion into the Middle East. Stripe is also opening a new UAE office, in Dubai Internet City, which will be the company’s first office in the region. Therefore, businesses operating online in the UAE can use Stripe to accept online payments, make payouts, mitigate fraud, and expand globally to reach customers all around the world.
To date, accepting online payments from the UAE has required onerous onboarding processes that take significant time and investment for businesses to complete, with most providers requiring physical in-person onboarding. Stripe’s fast and secure online setup will make it far simpler for UAE companies to access the internet economy.
Moreover, several of the UAE’s most innovative companies including Illusions Online, Aceplace, ChatFood, and WeKeep have been part of Stripe’s pre-launch beta testing and are already using Stripe to power payments in the region, along with global brands such as Glofox, which is now using Stripe in the UAE, as well as its other leading markets.
Overall, Stripe’s market entry announced today – supported via a partnership with Network International – will provide UAE-based businesses with the infrastructure they need to better connect with users around the world and trade internationally. Similarly, Stripe’s presence in the region is an attractive calling card that will likely encourage global enterprise-level organisations to do business in the UAE, and broader Middle East.
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