Once you obtain a business license in UAE, the next big step is to open a business bank account. But, what next? You still can’t run your business without completing another crucial step. Wondering what it is? 

Well, once you start performing your business activities and sell goods or services you will then need to receive payment from your customers. And if you are unable to receive payment from the customers you will not be able to trade. Hence, having a payment gateway becomes the next crucial step in establishing a successful business.

What is a Payment Gateway?

The payment gateway is an ecommerce application or merchant service provider that  authorizes debit or credit payments for your business that runs online, in a high street or in a mall. A payment gateway comes in multiple forms and different contexts.

For instance, If you run a physical store then the payment gateway can be used at the point of sale where a customer can tap their credit/debit card to process payment and in online stores payment gateways can be used at checkout. 

What are the best payment gateways in the UAE? 

Providing payment gateway services is a well established business market with less competitors and more room for growth. Currently, the major players in the market are as follows:

• Telr
• Payfort
• 2checkout
• Cybersource
• Cashu
• CC Avenue 
• Checkout.com

The list includes both home-grown and international service providers. They are also suitable for SMEs and startups.

What is the cost of payment gateways in UAE? 

The cost of any payment gateway usually depends on the size of your business. The lowest amount for a payment gateway is usually up to AED 100 per month with a 2.5% transaction fee, however it is only possible for the companies that can generate large amounts of transactions benefitting the service providers. 

For startups and SMEs, the monthly payment gateway can cost 300-400 AED per month. When it comes to processing fees, the smaller the amount your company generates the higher the fee. Hence, it is necessary for you to shop around and ensure your company gets what it needs.

Which is the best payment gateway in UAE?

To choose the best payment gateway for your company in UAE, here are the things you should keep in mind:

• Payment Gateway that operates in UAE or offers services in this region
• Payment Gateway that works with the current or projected sales 
• Payment Gateway that scales up your package with least hassle as your company starts to generate more sales
• Payment Gateway that supports multiple payment methods and functions with shopping cart platforms

Owing to the above points, it is necessary that you do proper research and also look for customer reviews on platforms. To get the best payment gateway with the help of experts get in touch with Startup Zone today

Is it possible to get a payment gateway without a license in the UAE?

A payment gateway cannot be obtained without a business license and to know more about business licensing information get in touch with our experts at Startup Zone today.

How can Startup Zone help you get the best payment gateway?

Now that you are aware of all the key points revolving around the payment gateways, we are here to make it easier for you to obtain the best payment gateway.