The premier revenue-based financing platform in MENA, FlapKap, and PayTabs, the MEASA region's award-winning provider of payment solutions, have announced a strategic alliance.
The partnership between the two enterprises intends to assist webpreneurs, small and medium e-commerce businesses (SMEs), and new and existing PayTabs entrepreneurs in the UAE in obtaining a quick and flexible funding offer within hours.
In fast-paced economic centres like the Emirates, SMEs are important actors on the global stage. Ecommerce is a lucrative and high potential industry for business owners looking to introduce their next great idea because there are now twice as many young Arabs in the GCC who shop online than there were five years ago.
In fact, according to the Dubai Chamber of Commerce, the UAE's e-commerce market will reach US$9.2 billion by the end of 2026, with the expansion of the SME sector being driven by the sale of electronic devices, fashion, and food. The process of trying to raise finance to expand an online business or working capital to operate an e-commerce business is still time-consuming, frightening, and tiresome.
In this environment, PayTabs simplifies digital payment processing and provides merchants with a variety of payment acceptance options, including wallets, debit cards, and credit cards, while FlapKap enables SME e-commerce enterprises in the UAE to take advantage of financing solutions through the FlapKap app.
As part of the partnership, more SME companies will make it possible for their online stores to securely and conveniently accept mobile, social, QR, and online payments through the PayTabs payment gateway while utilising working capital financing from FlapKap to, for instance, meet their needs for business inventory purchasing or logistical support.