As you know, forex is one of the most active markets in the world, so having a secure and reliable forex payment gateway UAE is essential. Daily transactions of the forex industry reach $7.5 trillion in April 2022. It is an international market where individuals can buy, sell, trade, and speculate on foreign currency. Forex is the abbreviation of the foreign exchange.
For individual and institutional traders, the forex market offers a fantastic potential to benefit from currency exchanges. But, to do this, forex traders need a complete forex payment solution that enables them to deposit and withdraw money quickly and with affordable transaction costs.
Let's have a look at forex payment processing in UAE in detail.
Overview of UAE Online Market Size -
UAE's online market is trading. The majority of internet and telephone users are there, which is surprising. The following are some fascinating facts about UAE:
- In 2022, it is anticipated that the eCommerce market will generate US$11.58 billion.
- The anticipated market volume by 2027 is US$19.83 billion, with revenue expected to expand at 11.36% per year (CAGR 2022-2027).
- 6.9 million users are projected to be present in the eCommerce market by 2027.
- By 2022, user penetration is projected to be 65.9%, and by 2027, it will be 69.5%.
- The average revenue per user (ARPU) is anticipated to be USD 1,654.00.
UAE is one of the wealthiest nations. It is a union of seven emirates, including Sharjah, Dubai, Ras Al-Khaimah, Fujairah, and Umm Al-Quwain.
Due to the UAE's status as a worldwide business hub, numerous entrepreneurs have established profitable businesses there. In the UAE, many entrepreneurs conduct online businesses, including forex.
But, to run the forex industry, merchants need a Forex Gateway, Forex Merchant Account, and Forex Credit Card Processing. It helps merchant to serve their services to domestic and international clients.
A Payment gateway is a mechanism responsible for communicating with the merchant's websites and the payment service provider. Forex merchants prefer the forex payment gateway to accept online payments. The UAE merchant needs to have the following features -
Security: FX gateway must comply with the PCI DSS. Along with this, it also offers anti-fraud and anti-chargeback tools to protect customers and merchants from fraud.
Multi-currency support: The forex industry has a global presence, so it is essential for the forex gateway to support most of the currency worldwide.
Multiple payment methods: As of now, everyone like options, and if they still need their preferable options, they can easily switch. So, along with credit/debit cards, the forex gateway in UAE also supports other payment methods like mobile payment, e-wallets, and net banking. Some advanced forex payment gateway also supports cryptocurrency.
Easy Integration: The integration process ought to be hassle-free. Forex gateway makes it easy and beneficial for consumers and offers them the payment method of their choose.
Invoicing: With tracking tools, your invoicing solution may help you speed up the processing of vendor invoices while streamlining the invoice creation process and giving you more control over internal processing activities. The ability to save money, and improve cash flow are just a few of the main advantages of invoicing.
Why Choose PayCly?
In UAE, the merchant can get many options, but the most challenging work is to choose one among the thousands. Without wasting time, we recommend selecting PayCly as your forex payment gateway.
We at PayCly have experience in dealing with the forex industries, so we completely understand what you expect from us, and we offer you the same. It also helps you to run your high-risk forex business smoothly without any headaches.
- It offers various payment modes such as credit/debit cards, net banking, mobile payments, e-wallets, crypto-currency, etc.
- Ability to support multi-currency.
- It has the best customer support services in the world.
- The integration process is hassle-free.
- It is an all-in-one solution.
- It offers futuristic security tools and covers all PCI DSS issues, so that you and your customers are completely safe with us.
What industries does PayCly cover?
Not only forex, but PayCLy also deal with other high-risk industries. So, if you are looking for a suitable payment service provider for your high-risk businesses, feel free to contact us. We have experience in the following industries -
||Social Media Marketing
Final Thoughts -
PayCly specializes in dealing with forex businesses. For the forex industry, we offer dependable and secure forex payment processing. We also provide additional payment options that increase orders and speed up transactions. Our goal is for you to succeed.
Let's have a deal with us so you can focus on your business growth.