How Startups Can Accept Online Payments in UAE?

Beginning an online business has never been as worthwhile as it is today. The quantity of new businesses in the digital space has developed significantly over the recent years. Some may state it’s a prevailing fashion, yet we have faith in the pioneering soul of UAE. It’s an incredible chance to begin an online business, particularly since UAE is grasping digital payments to an ever increasing extent.

Startup business visionaries for the most part center around different business angles like structure an alluring and useful site, guaranteeing the gracefully chain is solid, and that’s just the beginning. Be that as it may, aside from these, online organizations ought to likewise concentrate on the most ideal approach to gather payments.

Online digital payments can be acknowledged by organizations through numerous ways, each with its own arrangement of favorable circumstances and difficulties. The key channels are:

1) Integrating with a bank’s payment gateway – A payment gateway provided directly from a bank (also called a second party payment gateway) allows online businesses to process payments via debit cards, credit cards and net banking and is supported through platforms such as Visa, Mastercard, among others. 

From the cost angle, organizations should pay an underlying arrangement charge and exchange expenses or TDR (Transaction Discount Rate), which is a level of the exchange an incentive for all exchanges prepared through the passage.

While the whole system looks straightforward in principle, integrating with a bank’s payment gateway is often challenging and tedious for startups.

2. Integrating with a third-party payment gateway – 

A simple and effective approach to process online payments is through an outsider payment door. Such payment portals additionally gather TDR on exchanges while arrangement expenses might possibly be relevant, contingent upon the solution provider

Similar to banks, these gateways also facilitate payments made through debit cards, credit cards and netbanking. In addition to this, many solution providers, like Foloosi, also allow merchants to process digital payments through multiple channels like prepaid digital wallets and recently, and several digital wallets. This way, online businesses have the agility to accept payments through practically every online digital mode.

While by all accounts, third-party payment gateways appear to be like bank payment portals, they are in truth unmistakably more easy to understand, open and simple to coordinate, particularly for first time new businesses.

Accepting payments beyond a payment gateway

Setting up an payment gateway works for online organizations that have a site or an application. In any case, imagine a scenario in which you don’t. Does that mean you won’t have the option to acknowledge digital payments? Nothing could be farther from reality.

Foloosi offers solutions for businesses to accept payments even without a website or an app. Here’s how.

Get paid instantly with Payment Links

If you don’t have a website or an app, you can easily create a Payment Link from your Foloosi Dashboard and send it to your customers via email, SMS, messengers, chatbot, etc. 

Indeed, even with a Payment Link, your client can look over a plenty of choices to finish the payment. Foloosi Payment Links can be utilized by organizations without a site, just as organizations with a site that require another payment strategy. It is a keen method to gather payment, which accompanies highlights like mass transfer and incomplete payments.

Foloosi’s Payment Link

Merchant, individuals etc can accept payments from customers just by sending a link. They can share payment link via SMS, Email, messenger etc and can get paid instantly.

  • Instant account activation
  • Get paid instantly- Get money in your bank account instantly
  • Accept every payment- Get paid using credit card/debit card, net banking, UPI

How to accept payments using “Payment Link?

Create a payment link via API or dashboard- To create a payment link details like customer’s name, amount, phone number, Email are required

Share the payment link via Email or SMS

  • Now customer pays through online payment- They can pay using credit/ debit card, net banking, online wallet, UPI etc
  • Notification is received once the payment is completed

PAYMENT LINKS FOR YOUR BUSINESS

BUSINESS WITHOUT WEBSITE

It is not necessary to worry about that you need not have any website/ app for selling. Make your customers pay online just by sending payment links.

ALTERNATIVE PAYMENT OPTION

You can substitute payment link for cash on delivery and point of sale payment methods in your business

SOCIAL MEDIA SHARING

You can give your customers a quick check out option by sharing payment link over social media platforms like Facebook, Instagram, whatsapp etc

We also provide the following features in our “Payment Link” Platform

PERSONALIZE

You can customize the payment request page from your dashboard to extend your brand

API DRIVEN

Our powerful APIs helps to automate the generation and collection of payments for all aspects of payment links

DASHBOARD REPORTS

Use the real time data and reports available on the dashboard to take business decisions

INVOICES

You can send your customers Invoices with item level details to accept online payments through debit/ credit card, net banking, UPI etc

SUBSCRIPTIONS

You can offer your customers subscription plans with automated recurring transactions on various payment modes

Thus make use of “Payment Link” provided by Foloosi and get paid instantly in a safe and secure manner

How to choose the best payment gateway?

Picking the correct payment gateway is basic to encourage the payment procedure of any online store. This arrangement permits traders to have full power over the payment stream while improving the specialized association with card acquirers. In any case, there are numerous arrangements out there. In view of this, we have prepared a concise manual for help online retailers pick the best choice for their stores.

What is a Payment Gateway?

A payment gateway is a specialized solution that permits online stores to process payments. It comprises of a back-end administration that associates the online shop with card acquirers, safely moving the payment data between them. It fundamentally fills in as what could be compared to the POS machines. Shippers build up a legally binding relationship and get the funds collected directly from the card acquirers.

The most effective method to choose a Payment Gateway 

There are a few focuses that ought to be considered while thinking about an payment portal. To encourage the way toward choosing, we have arranged a rundown with the most applicable focuses dealers should remember:

Similarity: A significant point is to check if an payment portal is perfect with an online store e- commerce platform. This ought to be the primary thing to be completed, as there is no reason for checking everything else if a payment passage can’t be incorporated with an online store except if dealers are happy to move their stores to an alternate stage.

Reconciliation: A great payment portal ought to be anything but difficult to coordinate into any web condition. It ought to be good with shop frameworks or programming language and give consistent coordination. Card acquirers regularly change their mix parameters, which powers dealers with immediate acquirer coordination to modify their innovation incorporation. Then again, a payment portal ought to tackle this issue for vendors by adjusting its foundation to the acquirers’ changes, furnishing on the web organizations with a steady and reliable integration

Security: The payment business has severe security norms that a payment portal should be consistent with. Vendors must ensure that the picked passage follows all measures, particularly PCI DSS, a standard made by Visa and Mastercard that guarantees that the paymeny door is secure to store charge card subtleties. By having an exclusive stage, the gateway can rapidly adjust to dealers’ and market needs. In like manner, it likewise appreciates greater security as there are no outsiders with access to its framework and greater adaptability to make, test and improve inventive solutions

Compromise: Ideally, a payment gateway ought to give a progression of extra assets, for example, business insight with reports and redid diagrams for a superior comprehension of the whole business activity. 

Usefulness: The payment gateway ought to give fundamental and propelled functionalities, for example, a single tick and repeating payments, which help improve the payment experience, just as pre-approval, that can purchase shippers some an opportunity to run extra hazard examination, fractional catch and multi-acquirer reattempt.

Extortion anticipation: A Payment gayeway itself doesn’t filter any payment transaction; however it ought to be good and incorporated with misrepresentation counteraction arrangements. Some gateway suppliers will have their exclusive devices and others will be coordinated with outsider enemy of extortion services, which permits dealers to include the administration without the requirement for extra specialized usage

Direct checkout: Choosing a payment gateway that can be utilized behind the shipper’s own checkout page gives traders higher transformation rates. This happens for the most part since purchasers feel a more noteworthy suspicion that all is well and good when they don’t need to leave the stores’ sites to finish the payment, what’s more, to abstain from adding another progression to the checkout procedure.

Backing: Another pertinent point is technical support. Shippers should ensure an payment door is prepared to furnish them with quick and skillful technical support.

Expenses: Usually, there is a setup fee that dealers must compensation before executing the payment gateway platform. The payment passages for the most part charge expenses per exchange created, for both finished and bombed exchanges. The expenses apply to payment, discount and chargeback exchanges. Costs alone shouldn’t be a deciding element. We emphatically suggest dissecting the various focuses too to pick the payment portal that best suits an internet business needs.

It is important that the utilization of a payment gateway is regularly a superior option for shippers with bigger deals volumes as it permits them to decrease their general expenses. A gateway setup requires an organization to have a specific structure to deal with all the legally binding connections and procedures. Thusly, if a business comes up short on this structure, a payment processor offering collection services, where the payment processor holds any agreements with card acquirers and is liable for moving the cash gathered to the dealers may very well be the best alternative. On the off chance that shippers despite everything need to have certain authority over payments, picking a supplier that offers a half breed model can be the solution.

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.

For Android:

https://play.google.com/store/apps/details?id=com.foloosi.customer&hl=en

For iOS :

https://itunes.apple.com/us/app/foloosi/id1424241732?ls=1&mt=8

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.

Foloosi was founded in 2018 and launched its product in the year 2019 that enables simple and easy way to accept and process payment solution for businesses. 

Foloosi introduced a new feature, Pickup and Delivery which helps both the merchants and their customers

Log in to the merchant panel; add products with its description which is now listed in the business section of customer app.

Customers can view the product, once they ordered; a message box will be displayed asking the customers to select pick- up/ delivery. When they select the delivery option, they will be taken to the page to add their address. Once it is done payment is processed including the shipping fee to the Foloosi merchant

Now the merchant can deliver the product to their customers at their doorstep.

This new feature of Foloosi helps UAE merchants to reach their products at every nook and corners of UAE. They can sell their products not only in metropolitan areas, but also in pastoral areas

Accept payments for your business using Foloosi’s QR code

QR code

A QR code (quick response code) is a type of 2D bar code that is used to provide easy access to information through a smart phone. In this process, known as mobile tagging, the smart phone’s owner points the phone at a QR code and opens a barcode reader app which works in conjunction with the phone’s camera.

Where QR Code can be used?

QR codes can be used for anything and everything. They are also beneficial for both customers and businesses. 

  • Events/ Airline tickets
  • Mobile coupons/Loyalty cards
  • Mobile Payments etc

Static QR code

Static QR Codes are QR Codes that can’t be changed once they are made. These are, for instance, email and content Codes, which don’t accumulate any tracking measurements.

What is a Dynamic QR Code?

While Static QR Codes contain fixed data, Dynamic QR Codes have the likelihood to be altered after fruition. Both the kind of QR Code and the substance are editable the same number of times varying. They utilize a short URL to send clients to the point of arrival of your craving just as screen measurements for data, for example, the number of scans, location and operating system used.

Depending on your needs, both QR Codes are useful

While Static QR Codes are not ideal for the business or marketing world due to their lack of adaptability, they do function well for personal use because you are likely not tracking your campaign metrics. Nonetheless, if you do use a Dynamic QR Code for personal use, at least the information is still always editable. 

Advantages of using Dynamic QR codes

Monitor important statistics

The most compelling motivation why you would choose a Dynamic QR Code is that you can gather all the tracking data from it. These incorporate measurements, for example, when and where it was scanned, just as the working arrangement of the gadget utilized. These are the key components to getting whether your promoting effort has been effective. This allows you to make necessary adjustments to improve the campaign based on this data.

Add or change information easily

A second critical advantage of Dynamic QR Codes is that you can alter then after they’ve been printed. Let’s assume you add another point of arrival to your site, you’ve chosen to change from composed substance to a video or you need to add additional data to the QR Code. The entirety of this is variable anytime and the same number of times as you need, which sets aside both time and cash.

Possibility to fix mistakes

Possibly the connection you’ve added to the first QR Code was an inappropriate one? Or then again an inappropriate PDF was given for download? Dynamic QR Codes eradicate any kind of stress with regards to mistakes, indeed because of their editability. Rather than making a totally new Code, basically alter the Code to fix the slip-up and issue solved!

Foloosi and QR code

Merchants can accept payments using QR code of Foloosi app; allow your customers to make payment in an easy way. Customers can make payment just by scanning the QR code

  • Open the Foloosi app
  • Tap on ‘scan’ to open the QR code scanner
  • Hold your phone over a QR code so that it is clearly visible within the scan area.
  • It’s done!

Foloosi app supports both static and dynamic QR codes where as a dynamic QR code provides the ability to change the destination address to which the QR code redirects to. With dynamic QR codes, reprinting of the code is not necessary after changing the address. 

Unlike dynamic QR codes, static QR codes point out to fixed address. A static QR code does not allow changing the destination that the QR code resolves to when scanned. 

Special feature of Foloosi ‘s QR code:

Static/ Dynamic

In static QR code customer has to enter the amount to be paid to the merchants after scanning the QR code whereas in dynamic QR code of Foloosi the amount to be paid will be entered automatically and the customers are taken directly to the payment page. 

Also, we have single and multiple QR code options. Using single  payment option QR code can be used only once that is for one customer whereas multiple payment option helps to send a single QR code to N number of customers. 

Foloosi - UAE QR Code Payment

Make use of Foloosi’s QR code for your business to accept payments and take your business to greater heights

Foloosi – Make Recharge and Bill Payments

Foloosi is a UAE online marketplace facilitating consumer-to-business card payments by enabling businesses to display QR code, share Payment Links and API integrations for their customers to pay conveniently.

Foloosi helps daily transaction in a simple, secure way and never limit payment options.

Make recharge and bill payments for the following operators

DU Top-up/Bill Payment

Du broadband is the top leading and affordable internet services provider across all-state in UAE, Sharjah, Abu Dhabi, Ajman, Fujairah, and Ras Al Khaimah. Du Home Internet is the retailer that gives internet, TV, and landline services for home and businesses.

So more than 6.5 million mobile customers (almost 50% market share), 555,000 fixed-line subscribers, 180,000 home services readers and over 70,000 businesses have chosen to use du home services. In a poll, they’ve been known as the Middle East in 2012 and the Mobile Broadband Network in the Africa area. Du revenue surpasses AED 10 billion.

Etisalat Topup/ Bill Payment

Etisalat Group is one of the world’s leading telecom groups in emerging markets, with a current market cap of AED 148 billion (USD 40.3 billion). In 2018, the company’s consolidated net revenues were AED 52.4 billion while its consolidated net profit was AED 8.6 billion. Its high credit ratings reflect the company’s strong balance sheet and proven long-term performance.

AADC

Al Ain Distribution Company (AADC) is a public joint stock company registered and incorporated in the United Arab Emirates under Law No 2 of 1998 on 1 January 1999 with Head Office at Al Ain. AADC is a wholly owned subsidiary of Abu Dhabi Water and Electricity Authority with a fully paid capital of AED Billion 1,530,000,000.

AADC is the sole distributor and supplier of water and electricity in the Eastern Region of the Emirate of Abu Dhabi (Al Ain city and its surrounding rural areas). This includes the ownership, operation and maintenance of the water and electricity distribution network assets, meter reading, and services for the supply of water and electricity.

The number of AADC employees at the end of 2012 was more than 1934 and the Company provides services to a population of the East Region of Abu Dhabi (Al Ain Region) approaching one half million people.

AADC has established a documented Integrated Management System, which includes IMS Policy Statement, IMS Objectives, IMS Management Manual, IMS Procedures, Operating Procedures, Process Maps, Flow Charts and IMS Records.

FEWA

Federal Electricity & Water Authority (FEWA) was established in 1999 under the Federal Law No. 31 of 1999 to carry out the duties assigned by Ministry of Electricity and Water in achieving several objectives. ts Main objective is to cater to the needs of Electricity and potable Water for the population of the Northern Emirates.

To achieve this main objective FEWA has to create a balance between the cost of production and the distribution price in consideration with unifying the existing variable pricing strategies, study the consumption behaviors and create awareness to overcome the waste of electricity and water by consumers. FEWA also has to develop and improve revenue collection processes

List of Best Online Payment gateway Portal for your E-Commerce Business

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

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 - Payment Link

For Android : 
https://play.google.com/store/apps/details?id=com.foloosi.customer&hl=en

For iOS : 
https://itunes.apple.com/us/app/foloosi/id1424241732?ls=1&mt=8

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.

Telr

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:

Pay U

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.

Braintree

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 payment structure.

Paypal

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

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.

CashU

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.

For more details on most popular payment gateways and payment gateway processes or integrating them during your Grocery app development or some other digital assistance reach out at us.

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grocery script - groceryncart

Grocery N Cart provides you the best grocery app solution in android and ios platform. If you have a need please connect us.

Ways to Get Paid as a Freelancer or Consultant in UAE

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
  • Customer Pays
  • Get instant alerts
Foloosi Technology - Payment Gateway UAE

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.

Do’s and Don’ts s of freelancing in UAE

  • Do get officially licensed
  • Do find a working environment that works for you
  • Do enjoy the flexibility
  • Don’t forget to keep on top of your cash flow
  • Don’t bow to pressure to put in extra hours
  • Don’t be afraid to ask for a down payment

Payments Landscape in the UAE: Opportunities and Risks to 2022

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 (2014-18e).

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 and schemes.

Get Sample Copy of This Report at@ www.orbisresearch.com/contacts/request-sample/2701953

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:
Emirates NBD
Dubai Islamic Bank
First Abu Dhabi Bank
ADIB
Emirates Islamic
Abu Dhabi Commercial Bank
RAKBANK
Mashreq Bank
HSBC
Commercial Bank of Dubai
Standard Chartered
Citibank
National Bank of Abu Dhabi
First Gulf Bank
Mastercard
Visa
American Express
Diners Club

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.

Scope

– 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 country.
– 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.

Source : https://newstechmarkets.com/2019/05/03/payments-landscape-in-the-uae-opportunities-and-risks-to-2022/

How Foloosi helps retail businesses in UAE?

Regardless of whether you’re a substantial endeavor or a private company, Foloosi offers a wide scope of solutions for reevaluate retail and enhance the purchaser experience.

“The capacity to utilize Foloosi at all of the spots they shop online — and now the majority of the spots they shop offline— is the epitome of our decision and association methodologies. This is a genuine success for the customer, the trader and the money related organizations whose cards they are utilizing to support their virtual Foloosi accounts.”

The challenge of digital payments is giving shoppers a generally excellent motivation to bring an end to their old payments habits.

Foloosi has dependably trusted that merchants, and not simply shoppers, must be in charge of digital wallet appropriation. From drug stores and accommodation stores to snappy administration eateries and bistros to claim to fame retail, all shippers are fruitful ground for actualizing a more extensive assortment of payment strategies into regular business encounters. The more traders that do as such, the more purchasers will pursue.

Foloosi said, sees a real opening for consumers to more easily use their accounts in-store to bolster efforts for the retailer to know who’s walking into their storefronts so they can engage with the consumers at a deeper level.

Foloosi provides grade Payments Solutions for all Retail Business

  • Add Payments to your Offline and Online POS
  • QR code has order information and amount
  • With a single tap customers can make payment from Foloosi app scan
  • Ideal for vending machines and billing POS
  • In the case of merchants they can scan customer’s QR code to debit amount
  • Super quick payment to address queuing woes
  • Ideal for quick service restaurants and supermarket

Foloosi helps retailers to accept payments using QR code without the need of any POS machine. Folossi provides the following for the retailers.

Foloosi - QR Code Technology
  • No payment fee
  • No Setup fee
  • No need of any infrastructure
  • No annual fee

Foloosi – UAE Digital Payments Solution

A secured payments platform for users to complete their daily transactions, making it simple and fast, without having to reach for physical wallets.

The mobile digital wallet “Foloosi” is the future beyond the paper money. Henceforth, in line with the governments’ relentless efforts to move towards the digital economy, we launched the Foloosi, an integrated mobile digital wallet that provides all citizens and residents with multiple benefits to manage their everyday financial needs.

According to the UAE central bank and the online comparison site compareit4me figures, around 75% of the economy is cash based; furthermore, 85% of residents prefer cash-on-delivery over credit card payments.

Foloosi provides a complete digital wallet and payments platform for a convenient, reliable and safer transactions.


Several benefits of Foloosi include:

  • Send and receive money to family and friends instantly and around the clock
  • Ability to pay to a business partner directly in-app or through the smart QR code technology.
  • Enable individuals to pay bills, invoices and follow up their payments.
  • Ability to fund the account using a credit card or prepaid cards issued in the UAE, and through thousands of deposit machines deployed in the country as well as licensed agents.
  • WPS – Wages Protection System is an electronic salary transfer system that allows institutions to pay workers’ wages and Foloosi is looking to utilise this niche market of 15% labour force.
  • Remittance for expat labour targeting three countries – India, Pakistan and the Philippines.

Foloosi is helping kids to use money in a fun way within a safe environment by being the first digital wallet to allow parents to empower their children in making real money decisions. Money handling tips will be provided to kids within the app and they can make use of it. Empowering children to spend money wisely has an effect on the growth of their financial intelligence and Foloosi has packed the Child’s app with feeds on financial tips. Foloosi will look to partner with educational institutes to make this app more powerful and meaningful.


We have the following MVP at hand in working test mode:

  • User Android App (Play store)
  • User iOS App (SDK)
  • Business Android App (Play store)
  • Business iOS App (SDK)
  • Merchant CRM Panel
  • Agent CRM Panel
  • Admin CRM Panel

Source : https://www.f6s.com/foloosi-digitalpaymentssolution/about

UAE-based payments start-up Foloosi has launched offering cashless transactions through a digital wallet

Foloosi says it will let users complete their daily transactions without having to reach for their physical wallets. The idea is to act as a mobile wallet so users can carry their credit card or debit card information in a digital form.

In an interesting use of words, Foloosi explains that it provides gateway solutions to online businesses through its “progressive and award-charming technology”.

This gateway connects the buyer and agent for any online payment transaction. The value stored on the wallet can be paid in exchange for any goods or services purchased online.

Along with businesses, the start-up is targeting the “student” market. It seems the firm means children.

Foloosi says parents can send and track money to their “kids”. Features include a family allowance application to track stipends – “power to kids, no pestering for parents!”

There are also money-handling tips and child friendly stores. The latter will display kids’ toys and books, so they can spend their allowances under the parents’ control.

The company was founded by Omar Bin Brek. He is also currently listed as an entrepreneur at the Sharjah Entrepreneurship Centre in the UAE. Albreki says he is “refining and developing” Foloosi at the Sheraa incubator programme.

Prior to Foloosi, Bin Brek founded iDeliver2 in London. This was an “on-demand 24-hour delivery service” – such as for documents or food.

Bin Brek confirmed to FinTech Futures that the name Foloosi is a reference to “faloos” – Arabic for “money”.

Source : https://www.bankingtech.com/2018/06/uae-digital-payments-start-up-foloosi-fires-up/