Checkout.com Licensed by UAE Central Bank

Payment Solution Provider Checkout.com website Has obtained a retail payment service license issued by the Central Bank of the United Arab Emirates.

Once the Acquisition License is obtained, Checkout.com can unlock its entire offer for merchants in the UAE. That means providing merchant acquiring solutions, payment aggregation services and cross-border funds transfers. Fundamentally, through the direct acquisition, Checkout.com now has greater control over processing results and can improve payment acceptance performance for its merchants.

Officials at Checkout.com said the award of the license demonstrates the strength of the trust, commitment and relationship they continue to have in servicing national and international brands to expand in the UAE. They are glad they played a small role in increasing trust in digital payments and allowing businesses in the digital economy to thrive.

The growth of e-commerce in the UAE

E-commerce growth in the UAE is expected to grow at a compound annual growth rate (CAGR) of 11%, increasing its e-commerce market size to US$17 billion by 2025. This is supported by 91% of UAE consumers who now support online shopping. Checkout.com already supports a number of brands in the country, including Shahid, Qlub, Carrefour, The Entertainer, Namshi, Mamo, MakeMyTrip, Cafu and Washmen.

Checkout.com added that they continue to invest in their operations in the UAE, serving hundreds of merchants in the country such as Cafu, Talabat, Careem and OSN, as they fundamentally believe in the growth potential of the digital economy here. That’s why they’re expanding their presence in the UAE and opening a new office in Media City to accommodate their growing team of nearly 100 dedicated local experts. Their license gives them greater control over processing results through their powerful platform, providing their merchants with enhanced payment performance.

Enables merchants to expand globally

With operations in the UK, EEA, MENA, Asia Pacific and the US, Checkout.com focuses on helping its merchants expand globally and enter new markets quickly and easily. This is part of Checkout.com’s “glocal” approach to international businesses. Serving the MENA region since 2014, with offices in the UAE and Saudi Arabia, the company serves merchants who accept all major international credit and debit cards – including popular local payment methods such as Tamara, Mada, KNET, QPay, Fawry, OmanNET, Benefit, and more.

For more information on Checkout.com, view the company profile Payer Company Database.