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Payment Solution Provider Receipt Announced partnership with revenue-based financing platform skin flap Facilitating the growth of e-commerce merchants in the UAE.
The partnership between the two companies aims to support new and existing PayTabs UAE entrepreneurs, web entrepreneurs and small and medium e-commerce enterprises (SMEs) with access to fast and flexible financing opportunities within hours.
E-commerce in the UAE and the content of cooperation
The press release detailed that SMEs are key players in the global landscape, mainly in fast-paced economic hubs such as the UAE. With twice as many young Arabs in the GCC shopping online than five years ago, e-commerce is seen as a lucrative and potentially promising business for entrepreneurs looking to launch the “next big idea”. Huge industry.
The Dubai Chamber expects the UAE commercial market to reach $9.2 billion by the end of 2026, with growth in the SME sector led by electronics, fashion and food. Still, raising capital to scale e-commerce or working capital to run an e-commerce business can be a long, daunting, and tedious process.
In this case, PayTabs facilitates digital payment processing and offers merchants multiple payment acceptance methods including debit cards, credit cards and wallets, while FlapKap enables SME e-commerce businesses in the UAE to FlapKap app.
Through the partnership, a growing number of SME businesses will enable their e-stores to accept mobile social, QR and online payments in a simple and secure way through PayTabs’ payment gateway, while taking advantage of FlapKap’s working capital financing to address business inventory Purchasing or logistical support requirements, etc.
PayTabs UAE General Manager Neelam Keswani sees FlapKap as an “ideal partner” as they understand the challenges small businesses face when operating in a similar ecosystem. According to their statement, the partnership enables more online stores to streamline their payment acceptance and digital invoicing so they can focus on securing the capital they need to scale their businesses to meet the growing demand for “everything online.”
Apart from this, Kunal Harisinghani, Vice President of Growth at FlapKap said that the partnership with PayTabs will add value to the SME ecosystem as it marks the first time in the region that a payment solutions provider and a revenue-based financing solution have been brought together The official said the two companies share a similar goal of impacting the SME and e-commerce sectors and providing them with data-driven growth opportunities.
By adding FlapKap’s solution as a product for PayTabs merchants, brands can unlock additional value creation through higher inventory buying power, marketing optimization and regional expansion.
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