UAE Payments Industry Overview
The United Arab Emirates payments market is competitive and fragmented with the presence of significant market players such as Telr Pte Ltd., Cashu FZ LLC, MasterCard Inc, Visa Inc., and American Express Co. The companies are introducing new services and continuously investing in making partnerships and acquisitions along with product development to increase the market share.
- In November 2021 -Telr announced that the company had raised USD 15 million from the India-based Merchant payments platform, Cashfree. This strategic investment in Telr will allow the company to introduce its offerings in the MENA region, utilizing Telr's strong presence and payment infrastructure.
- In February 2022, Network International partnered with Amazon Payment Services to provide online payment solutions to merchants in the United Arab Emirates. Network International helps enable digital commerce in the Middle East and Africa. The firms are collaborating to provide merchants with Amazon Payment Services' gateway and services, which include EPP and increased fraud monitoring, according to a news statement.
UAE Payments Market Leaders
-
Telr Pte Ltd.
-
Cashu FZ LLC
-
Checkout Ltd
-
Amazon Payments, Inc.
-
2Checkout.com, Inc.
- *Disclaimer: Major Players sorted in no particular order
