Top Payment Gateways In The GCC

Top Payment Gateways In The GCC
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The E-commerce market has been booming like anything and has become a strong driving force for all kinds of businesses across the world. From a pin to a car, anything can be found online. Today, even local businesses have a reach across the globe and are selling their products worldwide. E-commerce has made it possible for everyone to get access to anything from across the borders. 

Payment gateways are the most vital part of an e-commerce business and a major contributing factor to its success. A secure payment gateway is not only a need of customers but a responsibility of a merchant too. 

Many customers put products in carts but at times don’t go ahead with the purchase due to trust issues. They might feel suspicious about sharing their critical details like card numbers, account numbers and more and hence bounce back. It is very important to build a customer’s trust in terms of payment processing as this is directly proportional to the success rate of the business. 

There are various pointers one must keep in mind before choosing any payment gateway for the ecommerce website as this would be a deciding factor for the success of the business.

Set-up costs and monthly charges

The set-up charges or monthly costs must be known beforehand prior to choosing a payment gateway to integrate with your e-commerce store. There are some companies, which charge monthly subscription fee and some just charge per transaction while there are few who charge both. Make sure to check with the company that there are no hidden charges which would be required to pay later that might kill your profit.

Security

Any customer would want a secure payment processing otherwise it would defy the purpose of shopping online in the first place. One must make sure that the payment gateway being integrated to the e-commerce site is secure. The payment gateway must be able to safeguard all the details filled by the customer and keep them stored securely for repetitive transactions. Compromising on customer’s safety can be detrimental to the business.

Currencies

Though it’s totally up to a business what currencies they want to use but if the products are reaching a global demand then the gateway must be able to support other currencies as well. Multiple currencies option would make it easier to process payments from different parts of the world and make your presence global.

Customer Support

Most ecommerce businesses provide 24*7 customer support for various reasons then why not integrate a payment gateway that provides same efficient support? One must ensure a payment gateway that offers seamless support to customer’s queries. This not only would make it easier for them but will also increase your credibility as a brand. 

Let’s talk about the gateways one can integrate with an e-commerce site in the GCC. GCC (Gulf Cooperation Council) is  a regional intergovernmental political and economic union that comprises of United Arab Emirates, Saudi Arabia, Kuwait, Oman, Bahrain and Qatar. There are a number of payment gateways in the GCC to choose from. One can make an easy choice depending upon the business requirements. Here is a list of various renowned payment gateways in the GCC:

  • BitPay

COUNTRIES: Saudi Arabia, UAE, Oman, Kuwait, Bahrain, Qatar

With the aim to make it easier for businesses to accept bitcoin payments, BitPay was founded in the year 2011. The company saw the potential for bitcoin to revolutionize the financial industry while making payments faster, safer and less expensive.  BitPay serves numerous leading merchants in six continents and is currently the world’s largest bitcoin payment processor. The company provides smooth and safe bitcoin payment experience for its users.

  • GoCoin

COUNTRIES: Saudi Arabia, UAE, Oman, Kuwait, Bahrain, Qatar

GoCoin was established in the year 2012 and is one of the longest running block-chain payments and invoicing platforms across the globe. GoCoin enabled its merchants to accept Bitcoin, Bitcoin Cash, Litecoin, Dash, Ethereum and EOS forms of payments without any hassle. They offer quick and convenient crypto-currency settlements with 1% fee on most transactions. Their international payment gateways help merchants with complete security and flexible payment methods without any charge-backs, market volatility or payment frauds

  • Coinbase Commerce

COUNTRIES: Saudi Arabia, UAE, Oman, Kuwait, Bahrain, Qatar

Coinbase Commerce is one of the world’s leading crypto-currency companies and is integrated with WooCommerce, Shopify, Magento, PrestaShop and Opencart. The company ensures strong security and has been able to prove its credibility over the years. Though it provides all the benefits of a hosted platform while one can also maintain the ownership. There are no fees to accept crypto and no charge-backs too.  It offers fast services and one can go live within minutes, let alone days.

  • PayPal Express Checkout

COUNTRIES: Saudi Arabia, UAE, Oman, Kuwait, Bahrain, Qatar

PayPal express checkout proves to be effective in boosting sales by allowing customers to pay by credit cards or through  their already existing PayPal accounts with just one touch. It makes online payments simple while customers can see all orders and dispatch details and make the process faster. There are no monthly fees or set-up charges for opening a PayPal business account. PayPal Express checkout has a number of credible partners like WooCommerce, PrestaShop, Magento, Shopify and others.  

  • Checkout.com

COUNTRIES: Saudi Arabia, UAE, Oman, Kuwait, Bahrain, Qatar

Checkout.com simplifies payments for global businesses through a unified platform. It organizes payments into a single seamless integration that helps improve speed, reliability, conversion and data transparency. A number of leading global brands use Checkout.com including Flyin.com, Zomato, Adidas, Hopper, Gettyimages, Deliveroo, Samsung, easyGroup and many others. Checkout.com has acquired major local markets and continues gaining popularity. It supports more than 150 currencies and renowned payment methods. 

  • 2checkout   

COUNTRIES: Saudi Arabia, UAE, Oman, Kuwait, Bahrain

2checkout accepts payments by credit cards, PayPal and debit cards. Unlike some gateways, it does not require any set-up charges or monthly fees and has an easy-on-the-pockets cost structure. 2checkout processes credit cards directly on the merchant’s site and improvises user experience.  It supports 15 languages and about 87 currencies and hence is suitable for international merchants.

  • My Fatoorah

COUNTRIES: Saudi Arabia, UAE, Qatar, Kuwait, Bahrain

My Fatoorah offers efficient payment solutions that are tailored to cater the needs of any scale of businesses and makes the payment process faster and safer. It also offers customizable options like payment links, online stores and other on-the-go assistance. It allows clients to create and send invoices in just a few steps and hence making it a hassle free process. 

  • Splitit Monthly Payments

COUNTRIES: Saudi Arabia, UAE, Oman, Kuwait, Bahrain

 Splitit allows interest free monthly payments without any registrations or penalties and gives instant approval. Customers can choose up to 12 months for hassle free installments. Splitit offers installment solutions globally, wherever credit cards are accepted and is one of its kind. 

  • Tap

COUNTRIES: UAE, Oman, Kuwait, Bahrain

Tap is a Kuwait based company and was established with the aim to make online payments easier for all scale of businesses. It offers efficient online payment solutions for consumers and businesses and allows them to pay or accept payments with a range of different methods. It accepts payments from all major credit and debit cards.

  • PayFort

COUNTRIES: Saudi Arabia, UAE, Qatar, Kuwait

Payfort was established in the year 2013 and is an Amazon company. It has expertise in payment processing technology and solutions. It has a reach across major markets in the GCC and Levant countries including UAE, Egypt, Lebanon, Jordan, Qatar and Saudi Arabia. Payfort is a regional expert in providing a trusted and secure payment network that makes online shopping safe and easy. 

  •  PayTabs

COUNTRIES: Saudi Arabia, UAE, Kuwait, Bahrain

PayTabs offers an innovative way of processing payments and ensures full security. It provides customized solutions to well suit the needs of organizations and all scale of businesses. It is known for its flexibility and fraud prevention. It has its presence in 17 countries including the ones from the Middle East, South East Asia and North Africa. It supports a whopping 168 currencies. 

  • LAY-BUY

COUNTRIES: Saudi Arabia, UAE, Qatar

Lay-Buy allows customers to pay the full amount in installments. One can easily pay the amount in six weekly installments and save the pain of paying large amounts in one go. It is easy to set up and doesn’t need any set up charges or interests on installments but late payments might make you eligible for penalties. The account is verified and the Lay-Buy limit is applied to it.

  • Payfort-start

COUNTRIES: UAE, Qatar

Payfort Start was announced in the year 2015, and is an initiative by the Arab world’s leading payment service provider Payfort. It was established with the aim to  provide efficient solutions to businesses in the Middle East and work out the challenges faced by them regarding online payments. It allows fast track online payment set-up and easy to use online payment applications. One can also take advantage of its Instagram payment processes via easy URL payments. 

  • K-Net Payment

COUNTRIES: Kuwait 

K-Net payment gateway came into existence in the year 2004. It was an initiative of the K-Net company, jointly owned by 11 national banks of Kuwait. It is a hassle free solution for making online payments where merchants can easily receive payments in exchange of the products and services. K-Net payment gateway processes only debit card payments currently. 

Choosing the best payment gateway according the business needs is definitely a task and one wrong decision might cost someone the success of the business. We have mentioned the most renowned payment gateways of the GCC in this article but the selection of a payment gateway is totally dependent on the requirements of a particular business.

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