UnionPay International and PayTabs partner to power eCommerce in UAE
By Edil Corneille
Today, UnionPay International (UPI) and PayTabs, MENA’s payment solutions provider, announced a strategic partnership that allows PayTabs merchants to offer UnionPay Cards as an alternative payment method to customers who purchase goods and services online in the United Arab Emirates.
The collaboration aims to service thousands of PayTabs merchants in retail, travel, hospitality, healthcare, education, F&B, and other industries, to improve the checkout experience of their customers and thereby increase their online sales conversion. At the same time, with access to PayTabs merchants in the UAE, UnionPay Cardholders can benefit from multiple transaction categories which include everything from booking a taxi, ordering food, making a hotel reservation, to shopping for clothes or groceries online. To date, eight billion UnionPay cards have been issued globally, giving PayTabs merchants in the UAE access to tap into this segment of cardholders that are said to have higher spending potential.
PayTabs CEO and founder, Abdulaziz Al Jouf said, “We are in the business of assisting thousands of merchants globally to understand their customer’s local alternatives to making payments. Our partnership with UnionPay International aims to facilitate online shopping for billions of UnionPay customers around the world who can proudly use their cards to make purchases from our premium merchant base in the United Arab Emirates. Empowering both merchants and customers is a game changer in today’s payment ecosystem.”
“We have been actively improving various convenient and safe innovative payment services to provide UnionPay cardholders with better payment experiences. With no doubt, smooth online payment solutions provided by UnionPay bring convenience and ensure safety during the pandemic,” said James Yang, General Manager of UnionPay International Middle East Branch. “In addition, the collaboration will also help boost local e-commerce and the overall economic development in the UAE and assist local merchants in expanding their customer base and transaction volume.”
IBSi Daily News Analysis
September 26, 2022
How will corporate banking predictions affect technology buyers?Read More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage