UAE Merchant Account

[dogprince]

For those of you with UAE companies working in e-commerce selling online, what are you doing for Payment processing?

PayPal is killing me at 6.9 percent.

There's has to be a cheaper way using a local bank as a Merchant Account and then a UAE equivalent to authorize.net.

My company sells in Euros - the currency fees are the killer.

Ideas?

 

[uranium]

Get wio biz account first
They help you get stripe merchant account

 

[linusAG]

You can setup a payment agent in UK/EU and use any merchant service(such as Stripe)

 

[JackAlabama]

dogprince said:
For those of you with UAE companies working in e-commerce selling online, what are you doing for Payment processing?

PayPal is killing me at 6.9 percent.

There's has to be a cheaper way using a local bank as a Merchant Account and then a UAE equivalent to authorize.net.

My company sells in Euros - the currency fees are the killer.

Ideas?
Click to expand...

stripe hands down.

 

[dogprince]

But Stripe fees aren't that much better than PayPals.

What I need is a merchant account in the UAE that can accept Euros directly without having to convert to AED.

 

[VESTANON]

dogprince said:
But Stripe fees aren't that much better than PayPals.

What I need is a merchant account in the UAE that can accept Euros directly without having to convert to AED.
Click to expand...

Highly unlikely as most processors operating in a specific jurisdiction as indicated the uae,would process in its local currency.

for euro payments,try out Adyen.

Moreso just for clarity, paypal account type currently used business or personal?

You made know clarity on the services/items requiring settlements in euros.

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[dogprince]

PayPal is business.... we have a very long track record with PayPal. We make legit computer software. Totally above board. Nothing shady.

 

[JackAlabama]

dogprince said:
But Stripe fees aren't that much better than PayPals.

What I need is a merchant account in the UAE that can accept Euros directly without having to convert to AED.
Click to expand...

thats imo not possible. You need a eurozone company for that.
You can try to accept cryptocurrency and give your clients a discount if they come up with some themselves (in case Uae has not banned that as of now).

 

[jorge]

Does Stripe work with UAE companies and can process EURO ?

 

[dogprince]

Strip can process Euros, like PayPal, the problem is the currency exchange fees.

 

[JackAlabama]

jorge said:
Does Stripe work with UAE companies and can process EURO ?
Click to expand...

yeah it does, its a pretty straightforward process. It can process a wide variety of fiat currencies.
But the caveat is everything gets converted into AED and paid out in AED into AED accounts. These mandatory conversion comes with high fees.

 

[wellington]

dogprince said:
For those of you with UAE companies working in e-commerce selling online, what are you doing for Payment processing?

PayPal is killing me at 6.9 percent.

There's has to be a cheaper way using a local bank as a Merchant Account and then a UAE equivalent to authorize.net.

My company sells in Euros - the currency fees are the killer.

Ideas?
Click to expand...

Try https://woocommerce.com/payments/uae/

 

[aniglo22]

wellington said:
Try https://woocommerce.com/payments/uae/
Click to expand...

You are overpaying , it's still just a stripe integration for wc. Double the price in international payment and in currency conversion.
Woocomerce payments:

Stripe:

 

[dogprince]

uranium said:
Get wio biz account first
They help you get stripe merchant account
Click to expand...

What exactly is the Wio Stripe Merchant account?

How is that different from normal Stripe?

Can you collect USD or EUR and have the money go direct to a USD or EUR account at Wio and avoid the AED currency conversation fees?

 

[jorge]

I can't find USD to process cards for my UK LTD which I setup for payment processing?