Payment Gateways
Before we go into the details first I will briefly describe what (PG) is and how it works. According to Wikipedia A payment gateway in UAE is a merchant service provided by a trade request service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, bricks, and clicks, or conventional brick and mortar. The (PG) may be provided by a bank to its clientele, but can be provided by a special financial service as a separate service, such as a payment service provider.”
HOW DOES IT WORK?
Not all the payment gateway in UAE works in the identical manner but more or less following steps are involve:
- A buyer visits the site and places an order at the checkout; he may need to enter his credit card details.
- The website then securely sends the purchase features to the (PG).
- The (PG) then dispatches the details to the seller’s bank, where his account is.
- The merchant’s bank then contacts the customer’s bank and exchanges the purchase details.
- If the information entered by the customer is right the bank then permits the transactions and amount are deposited in the seller account from buyers account.
- (PG) then returns the details to the website which then let the customer know if the purchase was successful.
List of Online payment gateway in UAE
1. Telr
Initially known as Innovate Payments, it was once considered as one of the best startup of Dubai. Telr offers its service in more than 120 currencies global. One of the distinctive features of Telr is that they offer their services in developing countries like Indonesia and Pakistan. Their monthly cost is AED 349, AED 149, and AED 99 for entry, little and medium level accounts respectively.
There are no charges on the remittance to the merchant account for the entry-level vision.
2. CashU
CashU was established in 2002 with the sole aim of serving shoppers in the UAE but it has now become very popular in Europe as well. Interestingly, CashU offers free account creation and has a preservation charge of 1$ per year which is lowest in the market. Per transaction charges depend on the amount of transaction. A fulfill list of all the charges can be found here. Quite recently CashU has also started their effective card service with the collaboration of MasterCard. UAE local with a registered CASHU account will be able to create their Virtual MasterCard Prepaid Card immediately, to make payments on e-commerce portals that receive MasterCard.
3. Pay Fort
Pay fort is one of the most widely used (PG) areas. They recently changed their prices plans. Now Pay fort is only offering two pricing options, begin and Enterprise. For starter package, the monthly fee is 420 AED while for every one transaction they charge 2.94 + 1.84 AED. Enterprise package is custom foundation which depends on the scale of your business. With the cooperation of SOUQ.com (Now owned by Amazon), an online e-commerce giant in UAE, Pay Fort has also introduced their Card-On-Delivery (COD) service. Basically, Card-on-delivery means that payment-on-delivery shoppers will now have a choice of paying by cash or by card. The delivery agents are able to process all important credit and debit cards using a mobile card machine.
4. CCAvenue
Started in India, CCAvennue is now a liked online payment gateway in UAE. They also offer zero setup fee option but that comes with a big monthly maintenance fee of $54.45. They also charge 3% on every deal. CCAvenue is quite unquestionably an expensive option but they also offer a pair of free services like fraud prevention and 24/7 on-call support. We also support all important e-commerce platforms.
5. Cyber Source
Cyber Source is a part of well known global firm SME Working Capital. They operate in more than 190 countries every side the globe and offer multiple solutions. CS also supports digital payment procedure such as Apple Pay and Android Pay, as well as regional digital wallets such as Aliped, and KCP. Below are the information’s of their service charges:
6. Pay Tabs
A Bahrain based service provider that topped the list of finest business start-ups in 2016 compiled by Forbes. They are offer their services in 168 currencies. You can set up fulfill Pay system in less than 24 hours. There is a number of ways you can integrate Pay Tabs like Plug-in, frame, SDK or direct combination by use of API. Currently, they are charging 2.85 % + 1 AED per transaction. The setup cost is $400 while each withdrawal costs up to $15. Pay tabs is not charging any monthly or yearly maintenance fee.
7. Checkout
Working since 2010, Checkout started its service in Dubai in 2014. They are charging 0.95% + 20 cents per transaction for European cards and 2.90% + 20 cents on non-European cards. We accept all the major credit cards around the world. They are also offering one of the finest fraud management systems which they named as “Prism Risk Management System”.
8. 2Checkout
While 2Checkout is a USA based service provider but it is very popular in MENA area. They are charging 3.9% + 45 deals while serving in 87 currencies. They are also charging 1.5% for the purchasers outside UAE and $25 for every chargeback. These costs may look high but at the identical time, there is no set-up fee as well as no monthly maintenance fee.
9. Hyper Pay
Hyper pay is fundamentally a Saudi Arabia based (PG) but they offer their service in UAE as well. Pay has more than 100 partners from a wide variety of banks to well-known credit card organizations. It also offers very easy integration with important e-commerce platforms i.e. Word press and Magneto hyper Pay offers one of the excellent and highly secure fraud management systems