A payment gateway is a technology which merchants use to accept customers’ debit or credit card purchases. The concept encompasses not just the traditional card-reading machines used in brick-and-mortar retail stores but also the online stores’ payment processing portals.
There are different types of payment gateways in UAE:
- CashU: CashU is built to fit, represent, and help online shoppers so they can feel free to buy anything they want. Until now they are providing purchases in 13 currencies. With virtually zero setup fees, roughly 7 percent transaction fees and just USD 1.00 per annum maintenance fee.
- CC Avenue: Founded in 2001 and is recognized as the largest provider of Indian payment gateways. Three years later the company planned to extend its global presence with a new Dubai office. Currently, it has become a professional in electronic payments and is widely used by eCommerce companies in the UAE. Reference Cost: The setup cost for the Startup kit is free, and the transaction fee varies depending on the customer’s payment method.
- Checkout: Founded in 2012, and is a leading international provider of online payment solutions for ecommerce gateways. Checkout provides services to UAE in 2014, and offers a seamless mobile and online shopping solution. Reference Cost: Checkout.com payment gateway is a preferred choice for young entrepreneurs in the UAE with a reasonable transaction fee of AED 1.10 + 2.9 per cent of the subtotal.
- CyberSource: It is fast, secure and reliable. As a follow-up to the setup costs ranging from $0.00 – $200, they charge a monthly fee of $20. Their exchange rate is $0.35 respectively at 2.39 per cent.
- Innovate Payment: They cover up to 120 + currencies in transactions, enabling maximum coverage on the US, Europe , and the Middle East. They charge an additional monthly fee of AED 150 – 500 with a setup fee ranging from AED 1500 – 5000 and a processing fee ranging from 3.00 percent – 5.00 percent + AED 0.50; both depending on the account size, respectively.
- Payfort: Payfort withholds 3.0 per cent of the transaction cost + AED 2 each. Its setup cost to small and medium-sized companies, however, is AED 3500, while the cost to a corporate account is AED 6500. Payfort provides additional features including fraud security at a surcharge and accepts 18 currencies. Since this payment gateway is tailored to online Arab shopping habits and patterns, it would be a great payment for your Ecommerce business.
- Paytabs: The online payment gateway we highly recommend in UAE is PayTabs (established in 2014), well-known for its leading-edge payment processing and fraud prevention program. PayTabs currently offers you three options: start-up plan – fixed monthly fee (AED 183.62), development plan – charge of 2.7 per cent + AED 0.99 per transaction.
- Telr: One of UAE’s most well-known payment gateways, which can include several common methods of payment. There are three rates of payment: Entry, Small and Medium, which are perfect in developing market for startups, SMEs, and e-commerce companies.AED 349 / month (Entry) AED 149 / month+ Transaction fee (Small) AED 99 / month + Transaction fee (Medium).