Tradeling partners with Mastercard to support economic development

Tuesday 17 January 2023 13:44 CET | News

Dubai-based e-marketplace Tradeling has partnered with Mastercard to support the economic progress in the UAE by offering support to the SMEs.

Following this collaboration, the customers will have the possibility to buy items on Tradeling’s platform directly and

receive a 5% discount on all the products they want to purchase. This offer will be available only via the payment with Mastercard SME or business credit, debit, or prepaid cards in the UAE. 

Furthermore, SMEs will be able to access trade finance services by using the designs available on the companies’ platform, to overcome all kinds of difficulties and obstacles in the business-to-business industry. 

According to Trateling officials, ecommerce in the United Arab Emirates is believed to reach USD 27 billion in 2023. This growth is partially happening because of the SMEs that boost the market’s economic progress and development. 

Ecommerce in MENA has also shown an accelerated progress ever since 2020, with millions of customers preferring to make online payments rather than in person, physical one. Fostering a sustainable growth by providing more jobs, public goods, services, reducing inequality and discrimination, and poverty, SMEs show an important impact on the economy.  

Moreover, the press release claims that Mastercard will connect 50 million micro, small, and medium-sized businesses around the world to the digital marketplace by 2025. This collaboration will use Mastercard’s technology, products, resources, and network to combine it with Tradeling’s B2B services in order to develop a more sustainable and inclusive digital economy. 

Dubai-based e-marketplace Tradeling has partnered with Mastercard to support the economic progress in the UAE by offering support to the SMEs.


Mastercard’s partnerships and development

Global payment-processing corporation Mastercard had multiple partnerships and product launches in the last couple of months, covering multiple geographies. 

In January of 2023, the company announced its partnership with upSWOT, an US-based white-label embedded financial platform, to add data for small businesses on the platform. 

With the addition of Open Banking features, upSWOT’s platform can give business customers the possibility to link owner-permissioned financial data to 200 API-enabled applications. These include accounting, payroll, ecommerce, enterprise resource planning (ERP), POS business applications, Customer Relationship Management (CMR), and marketing services. 

A couple of days earlier, the electronic billing and payment solution Bill Pay was introduced in Malaysia, as a part of the collaboration between Mastercard and ATX Fintech. 

The Mastercard Bill Pay feature can now be accessed through ATX’s digital wallet Gopay and the company’s web-based platform called Payhub2u. 

Customers can make bill payments through one app with numerous options, such as linking their personal bank account or saving their card credentials. The clients will also have access to other benefits, such as real-time reminders on unpaid bills, which helps the user to keep track of statements and due dates for payments.

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Keywords: partnership, ecommerce, B2B payments, SMEs, payments , online payments
Categories: Payments & Commerce
Companies: Mastercard, Tradeling
Countries: United Arab Emirates
This article is part of category

Payments & Commerce




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