a UAE Fintech startup facilitating consumer-to-business card payments
through several ways by enabling businesses to display QR code, share
Payment Links and API integrations makes it possible to accept card
payments without the need of a POS machine.
Foloosi has raised an undisclosed amount of pre-seed fund from Angel fund investor Rashed Alfalasi in May 2019.
Co-founders Omar Bin Brek and Mohan K with an in-house team of 6 has managed to get the idea off the ground and continue to serve as a valuable start-up in the UAE market.
Arab Emirates has the highest banking penetration rate in the middle
east region. Though in contrary, according to UAE central bank figures
(in 2017): 75% of the whole UAE economy is based on cash transactions.
Furthermore, compareit4me.com survey (2018) show that 85% of online
orders are processed through cash-on-delivery option as a method of
payment. Residents need more advanced and modern options in line with
the UAE’s 2021 vision.
will enable a digital economy empowerment for local businesses,
operating merchants and most importantly the e-commerce sector. Foloosi
will feature a wide range of advanced technological products on its
modern platform – including the core function of ‘Scan to Pay’ feature,
which allows a business to accept card payment by displaying QR code
also, Foloosi has launched its new product ‘Point of Sale’ for small
and medium sized businesses. This dedicated POS system will provide
merchants a wholly complete system including digital checkout eyeing for
a huge potential in the GCC market.
enables businesses to go for a complete digital transformation
including paperless receipt checkout, which helps the society become
Foloosi CEO, Omar Bin Brek says…
the support of our strategic investors, we are accelerating the
development of our products further in this digital world and this is a
great opportunity to improve in the advanced technology experienced by
The Investor Rashed
“I invested in Foloosi because I believe the future will
be cashless and that Foloosi is one of the companies that will emerge
to lead this effort because of its great team and their strong vision.
With dedication and the right strategy, Foloosi can build the cashless
society and will provide payment solutions that serve all kind of
Having the best payment portal for your E-Commerce business can be the most important apparatus to succeed. It ought to be planned according to your necessities. It causes you to offer a solitary, coordinated answer for purpose of offer (POS) and handling the payment, which can be offered to traders as a substitution of the present payment strategies. To guarantee that shippers don’t bargain with their present supplier, your pay door arrangement must be verified to take out the risk of chargebacks, and have an all the more wide extent of decisions for making the payments. It even offers centered cost, start to finish client support, speedier settlement, and phenomenal detailing.
Foloosi Technology, a payment gateway UAE brings to you easy to use options that are designed to be accessible, convenient and simple backed by reputed partners to provide security and a credible and reliable customer experience.
Foloosi Technology, online payment gateway UAE provides a convenient way for a user to make in – store payments and can be used at business listed with the Foloosi Technology service provider.
At first known as Innovate Payments, it was once considered as a standout amongst the best new businesses of UAE. Telr offers its administration in excess of 120 monetary forms around the world. One of the remarkable highlights of Telr is that they offer their administrations in creating nations like Indonesia and Pakistan. Their yearly support cost is $ 95, $27 and $13.5 for section, little and medium dimension accounts separately.
There is additionally no charges on the settlement to the trader represent the section level arrangement. Their administration charges are referenced underneath:
PayU, created by the Indian payment
handling company, is the most straightforward E Commerce paymentment
framework intended to fill the holes left by different complex
specialist organizations. PayU is generally acknowledged because of its
high change rates and acknowledgment more than a few other payment
strategies. The PayuBiz’ API’s and SDKs help associate this stage to any
site, application, or related outsider frameworks.
PayU permits payment with a solitary
tap. A critical specialized progression is made by allowing the
recurrent clients to avoid the progression of entering CVV over and
over. The stage even permits perusing and entering OTP before the
clients, and consents to the most noteworthy of PCI and DSS principles
to guarantee installment data. It likewise stores all credit vault
information, so neither the trader nor their clients would need to key
it more than once.
Presented in the year 2012, and as of
now the best portable payment entryway in India and furthermore over
different nations. Financed by financial speculator and financial
specialists, Braintree is various in its programming, and the code can
be set explicitly into a vendor’s online website. It gives a protected
checkout experience to the clients, accordingly reassuring them to come
back to the site. It is a perfect entryway for associations hoping to
process payments productively and overhaul their request the board. It
is by and by prepared to form into customary E Commerce locales that
license the trading of things or administrations. It offers an online
payment door to new and rising associations that empowers them to
address associations that probably won’t be able to deal with the
Set up in 1999, for both MasterCard
and debit card payments, and is free for buyers, while traders need to
pay change expenses while using PayPal for Visa payments. This payment
portal does not require any setup costs, passage expenses, or month to
month charges. The advantages are that merchants don’t have to pay once
the deal is finished. While using PayPal Standard, clients may leave the
site to register out and sign with their PayPal record, or they can pay
through Credit card or Visa card without information exchange. PayPal
Pro enables dealers to have and alter their entire look at procedure
with the goal that customers don’t have to leave the site. It
furthermore acknowledges Mastercards utilizing fax, mail, or phone.
Payment Gateways are the eventual future of B2B E Commerce business. They develop a secure connection between the site/browser and the payment processor, thus encrypting payment information for each credit/check card transaction. Therefore, make the right choice for your online store that depends on quality standards, policies, and secures the available sensitive data.
CashU was set up in 2002 with the sole motivation behind serving clients in UAE yet it has now turned out to be exceptionally mainstream in Europe also. Strangely CashU offers free record creation and has the support charge of 1$ every year which is least in the market. There per exchange charges relies upon the measure of exchange. A total rundown of the considerable number of charges can be found here.
Recently CashU has additionally begun their virtual charge card administration with the coordinated effort of MasterCard. UAE inhabitants with an enlisted CASHU record will almost certainly make their Virtual MasterCard Prepaid Card immediately, to make payment gateways on web based business entryways that acknowledge MasterCard.
The digital payments sector in 2018 created a market of around 38 billion dollars comprehensively: the numbers in regards to the pattern of digital payments are continually developing with a positive normal yearly rate of 18% and a turnover of very nearly 90 billion dollars assessed by 2023.
These are the information that risen up out of the most recent statistical surveying of the Report Linker organization, breaks down that unmistakably feature the always expanding pattern in respect to the advanced digital payments advertise: the relentless presentation of imaginative advances and the improvement of a continually associated correspondence arrange are the principle essentials for concocting new business openings with brilliant and unique payment strategies.
Speed, solace and innovation are the primary highlights of the new advanced payment frameworks: in a cutting edge and carefully dynamic organization 24 hours per day it is unavoidable that the deals and payment parts will experience radical changes. On the off chance that online deals, web based business and buys by means of Social media speak to the most recent outskirts in the business circle, Digital Payments, ePayments and Mobile Payments are the genuine developments in the payments area.
The “Digital Payments Study Visa” investigate did in 2017 conveys that 68% of clients in Europe utilize digital payments to purchase products or services: the real buyers of digital payments administrations are the Millenials (individuals conceived somewhere in the range of 1981 and 1996) with a level of action of practically 90%.
What are digital payments? When can a payment method be defined as such?
The expression “digital payments” characterizes a wide range of payments made in advanced mode: online buys, electronic wallet installments and web cash exchange arrangements; P2P payments and exchanges made in physical stores utilizing NFC innovation and the contact less POS mode are additionally incorporated into the digital payment class.
Albeit altogether different from one another, a wide range of digital payments have as their essential goal the improvement of the client experience, ensuring the client solace and speed: POS and contactless end up being down to earth arrangements and perfect for activities inside stores, utilizations of online deals and digital transactions are the payment techniques most valued by internet business clients because of a natural, protected and quick service.
Payments via smart phone with e-wallets and applications
Transactions by means of smart phones are without a doubt the most inventive classification inside digital payments and can be isolated into four sorts: Mobile Remote Commerce, Mobile Remote Payment, Mobile Proximity Payment and Mobile Proximity Commerce. The Mobile Remote Commerce classification incorporates all the buying forms that happen by means of cell phone with charge on a payment card or electronic handbag, Mobile Remote Payment demonstrate rather all installments of top-ups, charges, parking garages or bulletins happened through cell phone with charge on e wallet or card. The Mobile Proximity Payment type alludes to installments made at the purposes of offer, approved by cell phones utilizing NFC or QR codes and charged on paper, electronic tote or financial balance, lastly Mobile Proximity Commerce incorporates every one of the administrations supporting the in-store client experience, for example, approval of coupons or loyalty services.
Digital payments- Advantages
Digital payments offer multiple innovative solutions compared to the classic payment with cash, we discover what are the points in favor of digital payments:
Security and protection inclusion
Most digital payments offer the client a substantial protection inclusion for the merchandise bought on the web: much of the time it is conceivable to get speedy discounts if there should arise an occurrence of item returns and discounts legitimate in case of a cheat. The protection guidelines and data security frameworks are progressively increasing more certainty from shoppers who incline toward online buys over physical buys.
Rapidity and simplicity
Online shoppers are searching for speed and effortlessness in their acquiring techniques: Digital payments can continually advance themselves, ensuring security, speed and solace to the client who utilizes them.
Internationalization of payments
With the utilization of digital payments there are no trade issues: it is conceivable to go in any nation by paying through your charge card or cell phone on account of the universal digital payment circuits.
Would you like to develop your business and improve your business results?
Fintech is booming in the Middle East and North Africa (MENA) as regulators and government agencies in countries including the United Arab Emirates (UAE), Bahrain and Saudi Arabia are pushing for innovation in the financial services industry to improve financial inclusion and keep up with international counterparts.
As fintech innovation continues to grow in importance in MENA, a
growing number of events and conferences are being organized in the
region this year.
Here are the most anticipated fintech and digital finance events in MENA in the coming months
22nd MFC Annual Conference
May 29 – 31, 2019
TITANIC DOWNTOWN BEYOĞLU hotel, Istanbul, Turkey
Running from May 29 to 31, 2019, the 22nd MFC (Microfinance Centre) Annual Conference
will tackle the practical side of digitalization in the financial
inclusion sector through case studies, trend analysis and discussion of
emerging best practice.
This year, the theme will be “Demystifying Digital in Microfinance” and will include a full range of workshops, panel discussions and side meetings to explore different aspects of the digitalization in financial inclusion, including agile ways of working, developing staff digital competency, digital client experience, non-credit digital products, regulatory issues connected with digitalization, financial services for migrants, digital tools for improving financial health, fintechs and financial inclusion, and more.
Token Fest 2019
June 3 – 4, 2019
David InterContinental Hotel, Tel Aviv, Israel
Token Fest promises
to be an exclusive, two-day networking event focused on the business
and technology of tokenization. Attendees will gain a wealth of insights
and information about the state of the token-based economy while
networking with over 2,500 senior level decision makers.
Topics covered during the event will include applied cryptoeconomics, token design, token trading and the future of digital assets, the structure and dynamics of security tokens, ICO blueprint for token crowdfunding, commercialization of blockchain platforms, multi-industry case studies of decentralized platforms, obstacles to mainstream adoption, and more.
June 12 – 13, 2019
Port of Beirut, Downtown, Beirut, Lebanon
This year, Arabnet will be celebrating its 10-year anniversary, a decade since it began its journey setting the ground for digital business and entrepreneurship in the MENA region.
To date, the brand has organized 25+ events in Beirut, Kuwait, Dubai,
and Riyadh, released 20+ in-depth reports on the different sectors of
the MENA ecosystem, and provided up-and-coming startups with a chance to
grow and reach high levels of success through our competitions.
Arabnet Beirut 2019
promises to be bigger than ever, a celebration of innovation gathering
3,000+ corporate executives, government leaders, and entrepreneurs under
The buzzing event is set to bring together 250+ experts and speakers
from around the globe, covering a range of topics and will include the
Launchpad for startups and investors, Ad/Edge for digital media and
advertising, and Finverse for digital banking and fintech.
Finverse will explore the latest trends and opportunities in fintech and banking innovation, diving into chatbots and robo-advisors, big data, blockchain, and the practical opportunities available for banks and financial services providers.
June 12 – 13, 2019
Gulf Convention Centre, Bahrain
InsurByte aims to be the insurtech knowledge-exchange platform in
Asia and the Middle East. The event is expected to bring together over
150 companies participating from over 25 countries who will be
interacting and showcasing the latest initiatives, innovations and
applications related to the insurance industry.
Building on the success of the 2017 conference, InsurByte 2019,
in strategic partnership with Bahrain Insurance Association and
the Bahrain Institute of Banking & Finance, will provide a platform
that fosters synergies among market players to find solutions and
promote innovative insurance practices in a collaborative, open and
The conference will host keynote speeches, panels, fireside chats, show and tells, startup pitches, investor sessions, workshops, network sessions and case studies from entrepreneurs, innovation labs, venture capitalist and insurance professionals.
Future of Finance and CFO Summit
June 17 – 18, 2019
Grosvenor House, a Luxury Collection Hotel, Dubai, UAE
The Future of Finance and CFO Summit
is set to bring together the region’s top CFOs and senior finance
professionals to discuss and address challenges and their key
initiatives helping shape their businesses successfully.
The summit aims to act as a platform to gain unparalleled insight on
cost control strategies through access to a global expert speaker
faculty, hear from the leading senior finance experts and discuss the
future of the finance industry by looking at what’s operational
efficiency and change management.
Participants will also get to learn more about the real value of AI, analytics and other innovative technologies in the finance industry and how it can make operations more efficient and achieve cost control, and much more
Seamless North Africa 2019
June 17 – 18, 2019
The Nile Ritz-Carlton, Cairo, Egypt
Seamless North Africa 2019,
organized by the Terrapinn, is held under the patronage of the Central
Bank of Egypt and in partnership with the Council of Arab Economic Unity
and the League of Arab States.
The event will feature inspirational keynotes from global innovators who are changing commerce in their companies as well as technology leaders from retail, e-commerce and payments across North Africa. It is set to bring together thousands of professionals and will include an exhibition where leading solution providers will showcase a wide range of new technologies.
The event will explore the role of digital assets and stablecoins, looking at how they can revolutionize financial services globally to improve transparency and accessibility, as well as the latest proof-of-concepts by financial institutions in the region. It will also address how to overcome hurdles around ecosystem maturity to implement the technology, and participants will get to hear from a range of central banks and free zone regulators on their views on blockchain in the Middle East to help financial institutions adapt and collaborate.
ATMIA Middle East 2019
June 25 – 26, 2019
Shangri-La Hotel, Dubai, UAE
The ATMIA Middle East 2019 conference will focus on global trends in next-gen ATMs and innovations in digital banking.
The ATM-dedicated conference will offer delegates and exhibitors the opportunity to share experiences and insights with their peers and industry experts from across the Gulf, Middle East and surrounding regions.
Fintech Summit Middle East
June 26, 2019
Intercontinental Hotel Amman, Jordan
Fintech Summit Middle East
will take place on June 26, 2019 in Amman Jordan, and promises to bring
together more than 300+ industry leaders, business decision makers,
tech innovators , business leaders and disruptive technologists,
regulators and academics who are shaping the future of banking and
financial services by driving a technological revolution in the industry
across the Middle East.
The summit will discuss the latest disruptions and opportunities across the fintech landscape, covering topics including blockchain, online payments and digital banking. This one-day event will focus on fintech with a range of programming, including panels, off-sites and networking opportunities.
June 26 – 27, 2019
Avenue Convention Center, 1 Hasharon St. Airport City, Israel
is an international annual conference on fintech taking place in
Israel. This year, Fintech Junction is expected to bring together 1,500+
professional attendees from Israel and from around the world including
CXOs, entrepreneurs, investors, innovation and fintech leaders from
leading startups, banks, financial institutions, hubs, accelerators and
The event will cover the latest and hottest trends shaping the future of financial services, including open banking, blockchain, cryptocurrencies, ICOs, regulation, cybersecurity, AI, P2P platforms, startups and venture capital and much more.
Oman Islamic Fintech Forum 2019
June 26 – 27, 2019
Oman Islamic Fintech Forum 2019 (OiFF2019)
aims to become the exclusive Islamic fintech reference in Oman. This
event will bring industry experts from various fields of expertise
including regulators, bankers, entrepreneurs, investors, and IT experts
to share their experiences and insights in developing the fintech
ecosystem for Islamic finance in Oman.
OiFF intends to set the stage in the Middle East for Islamic fintech experts to meet and share their expertise in order to assess Oman’s potential in embracing Islamic fintech to promote economic growth and develop the industry of Islamic finance.
Saudi Fintech Forum
Riyadh, Saudi Arabia
The Saudi Fintech Workshop
is set to bring together business leaders and technology innovators to
collaborate on the re-invention of technologies, processes and products
through digital transformation. The event will explore how to increase
efficiency and agility with operational excellence, while creating
customer-obsessed experiences that grow revenue and re-invigorate your
business. It will include case study presentations and panel
The workshop is designed to host 100+ senior professional from banks,
insurance companies, brokers, bancassurance, and fintech companies to
discuss their strategies for digital transformation. It will address the
key issues of financial transformation and innovation by bringing on
board expert speakers from the industry to address and provide updated
information and solutions to the challenges facing the industry.
Key topics to be covered include blockchain technology, mobile, the future of fintech in Saudi Arabia, the Internet-of-Things, machine learning, artificial intelligence, and more.
9th Annual Middle East Banking Innovation Summit
September 3 – 4, 2019
Jumeirah Emirates Towers Hotel, Dubai, UAE
The Middle East Banking Innovation Summit claims to be the largest
banking technology platform in the region, bringing together banking
leaders, fintech experts and over 450 senior experts and leaders to
discuss the future of banking.
The Middle East Banking Innovation Summit 2019 will focus on various disruptive technologies, new banking regulations and emerging key trends impacting this sector. The must-attend summit will explore the latest developments in the banking industry, with the sole purpose of emphasizing the impact of technology and innovation in this sector.
Fintech Abu Dhabi
October 21 – 23, 2019
Abu Dhabi National Exhibition Centre, Abu Dhabi, UAE
Fintech Abu Dhabi
is a leading fintech festival in MENA that’s set to bring together this
year 5,000 influencers and innovators who are pioneering the new wave
of innovation across financial services.
Building on the success of the previous two editions of Fintech Abu
Dhabi, ADGM has partnered with Unbound, a global innovation ecosystem
builder with a successful track record of creating innovation events
around the world.
This third edition will explore the next frontier of fintech and innovation and intends to be the meeting point for the global fintech community in 2019, featuring many country delegations, a new global challenge format, a Fintech World Tour, the inaugural Fintech Abu Dhabi Awards for Excellence and a showcase of the world’s most promising fintech startups and scaleups.
Enterprise Fintech Summit
October 28 – 29, 2019
The Enterprise Fintech Summit, taking place on October 28 and 29, 2019 in Dubai, will host more than 600 leading banking, financial services and insurance (BFSI) decision maker across Middle East. These will privately meet to discuss sector transformation and disruptive topics such as banking 2025, digital DNA, regtech, micro-financing, artificial intelligence, robotics, financial inclusion, blockchain, and real-time data analytics.
Finovate Middle East 2019
November 17 – 19, 2019
Finovate Middle East 2019
is set to bring together the region’s fintech community to showcase
cutting-edge banking, financial and payments technology. The event is
set to attract more than 400 senior financial and banking executives,
venture capitalists, press, industry analysts, bloggers, regulators, and
entrepreneurs from across the UAE.
Participants will see the latest fintech innovations demoed live on stage and hear insights from global financial services experts.
The Global Islamic Fintech Huddle 2019
November 25, 2019
The Global Islamic Fintech Huddle
is an international gathering of industry influencers and fintech
visionaries passionate about using technology to drive financial
inclusion in a Shariah compliant and ethical manner.
Featuring a series of high-level panel discussions, demo sessions and networking events, the Huddle is designed to be the epicenter of Islamic fintech ideas and innovation with the primary objective of connecting all stakeholders of the Islamic fintech ecosystem startups, investors, policymakers and intermediaries, to facilitate the exchange of ideas and create new collaborative business opportunities.
December 5, 2019
BlockOn 2019 aims to provide a platform for knowledge exchange that fosters synergies among market players to find solutions, and helps implement and promote innovative blockchain practices in a collaborative, open and transparent manner.
BlockOn 2019 aims to provide a platform for knowledge exchange that fosters synergies among market players to find solutions, and helps implement and promote innovative blockchain practices in a collaborative, open and transparent manner.
BlockOn 2019 will gather the blockchain community to investigate the challenges and opportunities of blockchain technology on multiple perspectives. Live panel discussions will probe deeper into what it takes for blockchain solutions to be successful and how this new and exciting technology can be applied for data integrity, trust and accessibility.
Startup Arabia captures the untold stories of the high-tech entrepreneurs in the Middle East who are creating one of the most vibrant and fertile tech hubs in the world today. The book was written by Amir Hegazi, a life-long entrepreneur, with over 15 years of startup, tech, e-commerce, and digital media experience.
Through a collection of interviews, Startup Arabia touches on the early days of those entrepreneurs and the startups they created. It explores how they got their initial ideas, what challenges they faced and how they overcame them, what lessons they learned from those experiences, and what advice they have for the next generation of Middle East entrepreneurs. They also share what they believe is required to ensure continued development of a startup ecosystem in the region.
Not only did these entrepreneurs conquer the usual challenges of new tech startups; they managed to break from deep-seated tradition and societal limiting beliefs, cut through red tape, and navigate an often unfriendly startup environment.
Startup Arabia provides an eye-opening, refreshing look at the entrepreneurial journey and a much-needed call to action to aspiring entrepreneurs across the region to help shape the future of the Arab world. It was also selected among the top 17 best books for startups worldwide by Book Authority in 2019 https://bookauthority.org/books/new-startup-books
What’s simply the distinction between being self-employed and being a freelancer?
So you’re doing contract work for an association. You’re not their worker, yet does that make you self-employed, or a freelancer? The distinction can be befuddling. In case you’re independently employed, that implies that you in fact possess your very own business. Be that as it may, it’s solitary independent work on the off chance that you do it in the interest of another organization or association, not state, a free handyman working for private property holders. That is the reason freelancers can lead their business under their very own name, instead of a brand name. All freelancers are independently employed however not all independently employed individuals are freelancers.
Can I legitimately freelance in Dubai if I’m not a citizen or resident?
As a rule, you should either be utilized by a UAE organization or wedded to a legitimate UAE inhabitant to work from Dubai. Be that as it may, for sure sought after businesses, the UAE government issues impermanent work visas for unique, charge absolved “free zones” inside the city. Each free zone is a geological territory that enables foreign freelancers to build up organizations for a particular business area, for example, structure, improvement, and media. The accompanying free zones permit freelancers.
Dubai Media City
Dubai Studio City
Dubai Production City
Dubai Knowledge Park
Dubai Design District
Dubai International Academic City
Abu Dhabi Twofour54
Fujairah Creative City
To turn into an authorized freelancer, you should initially enroll your venture as a business and apply for a Trade License that relates to your business division from the Department of Economic Development. An independent exchange permit conveys a one-time charge of roughly 16.000 dirhams, or around €3850 ($4350).
Beside the fundamental Trade License expense, every one of Dubai’s sans 27 zones has its very own enlistment systems and charge structure. Some additionally require a business person to have a base measure of startup capital.
You can endeavor to get your freelance business on its feet all alone, yet it’s astute to counsel with a business improvement expert. Numerous who do, find they’re ready to start freelancing snappier and with less headaches after consulting a specialist.
Your Trade License may expect you to lease some measure of office space. In case you’re filling in as a solo freelancer as opposed to building a business with a full staff, you might need to investigate a cooperating space. Cooperating spaces work like workplaces, yet as opposed to being controlled by a solitary organization, freelancers pay a month to month expense for access. They can be a reviving break from the tedium and depression of telecommuting.
How would I get paid from abroad?
QR code, payment link, Payment gateway to accept payments anywhere. Foloosi suits business of any size. Get Foloosi accepted in your online store, offices, restaurants and more. Also it can be customizable to fit your needs and thus grow your business
Create. Share. Get Paid instantly with Payment Links
Create and share payment link via an email, SMS, messenger etc, and get paid
Create a payment link
Share link with customer
Get instant alerts
To get payment and have the biggest sum left over when you gather, out TransferWise an attempt. That way, your cash will be changed over at the genuine swapping scale – a similar one you’ll discover on Google – and that should return more cash to your pocket.
The Transfer Wise multi-cash Borderless record is most likely most appropriate to your necessities. A borderless record enables you to have “nearby bank” status in either the EU, UK, or US, yet dwell in an alternate nation, and send, oversee, or get cash through the record in many monetary standards, including Emirates dirhams.
The Abu Dhabi Co-operative Society (ADCOOPS)
has allocated Dh70 million for 25,000 food and nonfood products during
the Holy Month of Ramadan.
Customers in Abu Dhabi will be able to enjoy
up to 65 per cent discount across 58 outlets. The operating officer of
ADCOOPS announced during a press conference. Discounts will range 30 to
65 per cent on more than 1,500 products, Al Ittihad reported.
He pointed out that the daily rate of visitors reaches 70 thousand consumers, noting that the association will provide more than 65 thousand different Ramadan baskets. Ramadan baskets will be offered to customers at Dh99 to Dh199, and will contain 17 to 20 products.
One QR Code to accept payments anywhere in the world
Download the Foloosi app and earn upto 50 AED Cash Rewards!
Foloosi suits business of any size. Get Foloosi accepted in your online store, offices, restaurants and more. Also it can be customizable to fit your needs and thus grow your business
Payments Landscape in the UAE: Opportunities and Risks to 2022”,
report provides detailed analysis of market trends in the Emirati cards
and payments industry. It provides values and volumes for a number of
key performance indicators in the industry, including cash, cards,
credit transfers, direct debits, and cheques during the review-period
The report also analyzes various payment card markets operating in
the industry and provides detailed information on the number of cards in
circulation, transaction values and volumes during the review-period
and over the forecast-period (2018e-22f). It also offers information on
the country’s competitive landscape, including market shares of issuers
The report brings together GlobalData’s research, modeling, and
analysis expertise to allow banks and card issuers to identify segment
dynamics and competitive advantages. The report also covers detailed
regulatory policies and recent changes in regulatory structure.
Key Leading Companies Mentioned:
Dubai Islamic Bank
First Abu Dhabi Bank
Abu Dhabi Commercial Bank
Commercial Bank of Dubai
National Bank of Abu Dhabi
First Gulf Bank
This report provides top-level market analysis, information and
insights into the Emirati cards and payments industry, including –
– Current and forecast values for each market in the Emirati cards and
payments industry, including debit, credit, and charge cards.
– Detailed insights into payment instruments including cash, cards,
credit transfers, direct debits, and cheques. It also, includes an
overview of the country’s key alternative payment instruments.
– E-commerce market analysis.
– Analysis of various market drivers and regulations governing the Emirati cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
– To strengthen consumer confidence in card-based payments, the
Central Bank of the UAE issued a notice prohibiting the double-swiping
of payment cards at point of sale (POS) terminals. The move is intended
to prevent unauthorized storage of card holders’ information. Once the
card is swiped for the first time at the POS its details are briefly
stored within the POS terminal’s memory before being transmitted to the
payment processor. The second swipe might provide the opportunity for
malware installed on the terminal to copy the card data. According to
the central bank, almost all merchants in the country have complied with
the new regulation.
– To boost the e-commerce market, in October 2017 the Dubai Airport Free
Zone Authority and wasl Asset Management Group announced the launch of
e-commerce free zone Dubai CommerCity, the first free zone dedicated to
e-commerce in the Middle East and North Africa. The free zone is
designed to provide government, administrative, customs, and logistics
services to e-commerce companies. It allows local and international
manufacturers to store their goods in warehouses to be shipped to the
local market. Free zones offer various incentives to e-commerce traders,
such as no taxes on personal income or capital gains, no corporate
taxes, no duties on the import or export of goods, provision of 100%
foreign ownership, and 100% repatriation of capital and profits. The
rise in e-commerce activities will drive electronic payments in the
– In April 2018 the government introduced Emirates Blockchain Strategy
2021. The strategy aims to use blockchain technology for 50% of
government transactions in order to reduce costs and free up resources
over the next three years. The adoption of blockchain technology is
expected to generate AED11bn ($3bn) in savings associated with
transaction and document processing.
Reasons to buy
– Make strategic business decisions, using top-level historic and forecast market data, related to the Emirati cards and payments industry and each market within it. – Understand the key market trends and growth opportunities in the Emirati cards and payments industry. – Assess the competitive dynamics in the Emirati cards and payments industry. – Gain insights into marketing strategies used for various card types in the UAE. – Gain insights into key regulations governing the Emirati cards and payments industry.
Foloosi is a UAE Fintech startup facilitating consumer-to-business card payments by enabling the business to display QR code, Payment Link and API integrations for the customer to scan & pay
Foloosi ( https://www.foloosi.com ) is a UAE Fintech startup facilitating consumer-to-business card payments by enabling the business to display QR code, Payment Link and API integrations for the customer to scan & pay.
Foloosi offers a complete technically advanced digital solution, which seamlessly connect consumers with businesses to provide actionable flow of events resulting in a fast and secure way of making payments based on QR codes and card networks.
Foloosi enables businesses in the UAE to get paid using QR code technology without the need of POS machine or any additional hardware. While the payment is deducted instantly, the merchant can also receive instant payment notifications.
Mission of Foloosi
World is going faster day by day with the power of digital information & technology. Our mission includes,
To make digitized payments/ transactions throughout UAE reforming the cash payments
To provide easy payments for customers to pay bills, recharge, book tickets, scan and pay etc and make them to enjoy their life
Enables business owners to accept payments without the need of any POS/ swipe machine or any other larger infrastructure
Products of Foloosi
Retailers can accept payment easily from customers just by generating one QR code. Customers can make payment using Scan & pay option. Customers can scan the item QR codes as they shop and can pay within minutes without queuing.
Foloosi technology offers a marvelous solution to the likes of freelancers by enabling them to share payment web links with their clients through multiple means such as email, sms, whatsapp, social networking apps and sites.
Payment link is sending a payment request to get paid instantly.
API documentation for websites is available as an option for merchants who want to accept payments on their own websites.
Businesses can accept payments in their mobile app/ website with Foloosi payment gateway API and customers can pay on merchant’s website.
Enable recurring payment schedule, control the billing cycle and get instant alerts on subscription activity with Foloosi Subscriptions. All to do is to link a plan to the customer.
Foloosi help its merchants to offer customer subscription plans to their customers with automated recurring transactions on various payment modes, through a platform that’s built for automation.
Need of Press Release and target audience
In order to make use of Foloosi- digital payment solution by all the individuals and retailers of UAE we are launching this press release. Our target audience includes from small startups to larger organizations. All can make use of this digital payment solution and enjoy transaction in a quick and easy manner.
Benefits for customers
Enjoy recharges, bill payments at the tap of your fingers
Book tickets for events
Scan and pay to businesses
Secure and easy digital transactions with history
Reward points and Local shopping
Benefits for business owners
Accept every payment
Fast bank settlements
Good success rate
Business growth insights
What Founder says about Foloosi?
Mr. Omar Bin Brek, founder of Foloosi says, “Our aim is to bring innovative payment transactions throughout UAE. We developed Foloosi technology platform in order to make transactions simple, fast and secure and to reform older method of transaction i.e. cash payments and our technological innovation solves the teething problem of processing payments”
DUBAI: Dubai International Financial Centre (DIFC) has signed a
memorandum of understanding (MoU) with professional services company
Accenture, to develop Financial Technology (fintech).
Under the MoU, Fintech Hive at DIFC will collaborate with Accenture’s
Fintech Innovation Labs in New York, London and Hong Kong, to share
resources and knowledge on the latest research and trends in financial
In line with DIFC’s Growth Strategy 2024 and Dubai Vision 2021,
Fintech Hive at DIFC aims to fill a void in the market by giving
financial companies access to state-of-the art technologies to support
their digital transformation.
“What sets us apart is our ability to harness the assets to grow
fintech locally that will ultimately create more jobs, attract
investments and support the economy as a whole,” said Arif Amiri, chief
executive officer of DIFC Authority.
The Fintech Innovation Labs are annual 12-week accelerator programmes
that bring together early-stage financial technology companies and the
world’s leading financial institutions. Globally, the Labs’ alumni
companies have raised more than US$1.07 billion in venture financing
after participating in the programmes.
“In today’s hyper-connected world, this type of alliance is critical for maximising talent development and innovation. With surging demand for fintech solutions and Dubai’s increasing presence on the global financial scene, we are confident that this international collaboration will generate incredible opportunities for the region,” said Sushil Saluja, a senior managing director in Accenture’s Financial Services practice.
DIFC has recently announced that the 2018 programme, which is opening for applications in May, will be expanded to include insurance, Islamic finance, and regulatory technology services. First Abu Dhabi Bank, Arab Bank and Noor Bank will join the programme this year, with returning financial institutions to include Abu Dhabi Islamic Bank, Citigroup, Emirates Islamic, Emirates NBD, HSBC, Mashreq, Standard Chartered, UAE Exchange, and Visa.