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]

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]

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.

 

[dogprince]

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

 

[JackAlabama]

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]

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]

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

 

[aniglo22]

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]

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?