Two significant fintech partnerships have been recently announced in the United Arab Emirates, strengthening the country’s position as a global hub for e-commerce and digital payments.
In the latest deal, Worldline, a leading payments services company, has partnered with Telr, a Dubai-based payment gateway aggregator, to launch a new e-commerce payments solution tailored for the rapidly expanding UAE market. This joint solution aims to simplify online payments and optimize transactions, allowing global businesses to fully capitalize on the growing opportunities in the UAE.
The UAE has become a prime destination for investment and tourism over the past two decades, thanks to its strategic location and favorable tax environment. E-commerce has flourished, with over 71% of e-commerce payments made through cards and digital wallets. The new payment solution will offer businesses access to both local and international card payments, mobile payments, and localized checkout processes. It will also deliver higher approval rates and lower transaction costs through local acquiring and remittance in UAE Dirhams, or cross-border remittance in over 20 major currencies. Additional features include recurring payments, reduced fraud, and chargebacks. The solution complies fully with UAE regulations.
Worldline stated that this launch is part of its broader strategy to help businesses expand into high-growth markets such as Turkey, South Korea, and Thailand.
In another major development, MoneyGram International has announced a strategic partnership with Comera Pay, a comprehensive suite of digital payment services in the UAE. Integrated into the Comera app, which boasts over eight million active users in the region, Comera Pay will enable seamless cross-border remittances from the UAE to more than 200 countries and territories through the MoneyGram global network.
These two partnerships mark significant steps in the growth of the UAE’s fintech sector, providing enhanced payment and remittance solutions to businesses and consumers alike.
