Credit cards — love them or hate them, they’ve made our life as a consumer so much better.
The benefits are obvious, they allow for easy payments anywhere and lets us borrow money with little effort. Their obvious con is simple, we all spend way too much money on things we really don’t need!
But as a business owner, have you ever wondered how credit cards work? Especially when your customers use them to pay you online when they shop with you?
There’s really no complicated science behind it, when it comes to making an online credit card payment you…
Across the globe, cash transactions are fading into history as we see a surge in uptake of increasing numbers of cashless payment methods. MENA is no exception; forecasters predict there will be 139 billion non-cash transactions taking place in 2022, an increase of 25% year-on-year.
Meanwhile, a survey of banks found that many predict that by 2025, cash will account for less than 5% of spending in the Middle East.
But what exactly is driving this move away from cash? There are several factors to consider:
The global pandemic:
COVID-19 has changed numerous things about the way we conduct our…
Wow, what a year it has been. For sure there have been some highs and lows, but overall it continues to be an exciting time for the payments industry.
Undoubtedly COVID-19 is going to continue having an impact on us all at least for the next few months and maybe all of next year, but there are still reasons to be optimistic about the future.
The industry continues to evolve quickly, it’s a great journey to be a part of, and we are excited about what is coming next as we start to think about 2022.
With that in mind…
Reality check: selling out of a storefront is so old-school.
It’s like selling candy to kids, but at an office where grownups work.
Customers today expect businesses to have an online storefront so they can reach them and explore products and services online. Unless you’ve been living under a rock, this is the era of digitization and online shopping so you don’t want to be left behind.
Taking your business online has many advantages, such as:
If you’re a business owner in the MENA region, chances are, you’ve seen a lot of changes in the past couple of months.
Thanks to a global pandemic, the way your customers interact and shop with you has drastically changed. We’ve seen a staggering increase in online shopping by consumers this year — especially in Qatar.
Not only has this pushed for an even greater need for digital transformation in the economy, but also brings focus to the importance of secure and reliable payment gateway providers in the MENA region.
There are three main groups when it comes to processing…
If you’re running a business online, accepting digital payments isn’t just a “nice-to-have” feature. It’s a necessity.
Today, about 230 million customers shop online, which makes up about $3.5 trillion in retail sales. And this number is expected to nearly double in the next three years. If you don’t already have an online payment system in place, or if your existing platform is difficult to use, you’re eventually going to lose customers and hinder your digital success.
One way to make online payments easier, faster, and more reliable is to use a third-party payment processor. …
Using a credit card to pay online for products or services is pretty common in the west. In the Middle East? Not so much.
We don’t know if it’s because cash is king or that consumers in the MENA region are afraid to use plastic money because they’re not sure how it works. But things are changing pretty fast as we see the newer generation embrace more technology and way of life.
However, there are certain myths that cause a lot of fear and confusion among consumers, hindering their adoption of online payments. We’re here to break them for you:
The global eCommerce industry is valued at $4.48 trillion!
If you’re thinking about making a move online, now is the best time for your business to enter the digital space.
But to be successful at eCommerce, you need the right foundations that help you achieve the goals you set out for yourself. Choosing a strong eCommerce software is one way to build up a framework that helps you realize your business’s true potential.
If you need help getting started with your eCommerce platform research, we suggest you start with these five companies that are gaining popularity in the MENA region:
The MENA region is undergoing rapid and significant development right now. With a population approaching 600 million, the diverse region has made a name for itself with impressive infrastructure projects and a thriving tourism sector.
GCC countries such as Saudi Arabia and the United Arab Emirates (UAE) are considered some of the highest-potential economies for the coming years, and we’re seeing technological innovation pouring out of the region.
All of these factors are driving changes to the payments ecosystem, especially mobile payments, in the MENA region. This is helped along by the fact that visitors from abroad are using less…
A payment gateway is an essential part of any online store. It’s the system that allows your customers to actually pay you, without the hassle of sending a bank transfer or the risk of identity theft. But there are many different companies offering these services, so how do you know which is the best eCommerce payment gateway for your store?
The choice goes beyond just finding a way to transfer money from A to B. You also need to think about the customer experience of your eCommerce store. Are there too many steps to make a payment? Will your customer…