[ad_1]
The region’s first platform bank, Wio Bank, has partnered with corporate finance infrastructure platform Stripe, which will enable UAE’s SMEs to access the power of e-commerce faster, easier and more conveniently.
Through this partnership, Wio’s first digital banking app, Wio Business, will enable SMEs (Small and Medium Enterprises) and freelancers who previously had difficulty obtaining payment products to enter e-commerce faster in an easy-to-use way. Create a Stripe account.
This will allow them to activate their e-commerce business through a payment gateway and receive payments instantly. Wio Business and Stripe ensure easy onboarding and a simple pay-as-you-go pricing model.
Users can quickly register on the Wio Business app and set up payment gateways to optimize payments in minutes.
More digital commerce
Jayesh Patel, CEO of Wio Bank, commented: “Our vision is to facilitate more digital commerce while removing as much friction as possible for our customers. As more businesses see online commerce as part of today’s global economy The opportunity, necessity and competitive advantage in the world, and partnering with Stripe is a natural way to accelerate that.”
To date, accepting online payments from the UAE has required a heavy onboarding process that businesses require significant time and investment to complete, with most providers requiring in-person onboarding. Stripe’s fast and secure online setup via Wio will unlock the internet economy for UAE companies.
Girard Moussa, Head of Stripe UAE, said: “The UAE is a global hub for tech talent. Yet too many companies still face challenges when trying to accept payments, make payments and manage the finances of their internet businesses. We are delighted to partner with Wio to help eliminate these complexity, allowing businesses to focus on what makes them different.”
Set up payments in minutes
Wio Business is creating an easier and more transparent path for SMEs to get paid faster. Soon, Wio users will be able to send payment links to their customers with just a few taps.
Stripe onboarding will be embedded into the app, meaning users can create a Stripe account and start sending payment links to customers — making it easier for SMEs to manage their finances and get paid faster.
Optimize invoices for fast payments
The Wio Business app will allow freelancers and micro companies to link their invoices directly to payments.
Users will be able to send invoices to their customers and trigger payments directly through the payment line, ensuring a seamless invoice payment user experience that translates to higher conversion rates with just a few lines of code on Wio.
Full-featured dashboard
Wio Business customers can also easily track and control payments through their Stripe dashboard. Additionally, they can download pre-built reconciliation reports for simpler and more efficient checkouts.
digital banking app
Almost one in five personal customers has an account with a digital bank in the UAE, and this number is expected to double in the next few years. However, digital banking for SMEs is still in its infancy, with customers mainly relying on brick-and-mortar branches to open accounts and conduct business transactions.
Wio Business launches in the UAE in September 2022. Partnering with Stripe is an important step in the new bank’s commitment to simplifying financial management and getting paid faster for SMEs and freelancers.
As the first platform bank in the region, Wio is ushering in a new era of digital banking in the UAE and the region, aiming to transform banking operating models into a more digital future.
It will continue to roll out new propositions that simplify the use and acquisition of funds, leveraging new technologies and capabilities to deliver smarter, personalized and contextualized experiences. arab trade news agency
[ad_2]
Source link