June 13, 2024

PayTabs collaborates with FlapKap

Facebook
Twitter
LinkedIn
Kunal Harisinghani, FlapKap's VP of Growth
Kunal Harisinghani, FlapKap's VP of Growth

PayTabs, MEASA’s payment solutions provider, announced a strategic partnership with FlapKap, revenue-based financing platform. 

The collaboration between the two firms aims to support new and existing PayTabs entrepreneurs, webpreneurs and small and medium e-commerce businesses (SMEs) based in the UAE to obtain a fast and flexible funding offer within hours.

FlapKap & PayTabs logo

SMEs are key players in the global landscape, especially in fast paced economic hubs like the Emirates. Because twice as many young Arabs in the GCC shop online now compared to five years ago, ecommerce is a lucrative and high potential sector for entrepreneurs wanting to launch their next big idea. In factthe Dubai Chamber of Commerce forecasts the UAE e-commerce market is expected to reach USD9.2 billion by the end of 2026 with electronic gadgets, fashion and food leading the way for the growth of the SME sector. However, trying to raise capital to scale up an e-business or working capital to run an ecommerce enterprise is still proving to be a long, intimidating, and tedious process.

Under this landscape, PayTabs facilitates digital payment processing and offers merchants multiple payment acceptance methods including debit cards, credit cards and wallets – while FlapKap enables SME e-commerce businesses in the UAE to leverage on financing solutions via the FlapKap app.  As part of the collaboration, more SME businesses will enable their e-stores to accept mobile, social, QR and online payments seamlessly and securely through the PayTabs payment gateway while availing working capital financing from FlapKap to meet their business inventory purchasing or logistic support requirements, for example.  

Neelam Keswani, PayTabs UAE General Manager
Neelam Keswani, PayTabs UAE General Manager

Commenting on the partnership Neelam Keswani, PayTabs UAE General Manager said, “FlapKap is the ideal partner as they understand the challenges that small businesses face since they operate under a similar eco system. Our partnership enables more web stores to streamline their payment acceptance and digital invoicing so they can focus on obtaining necessary funding to scale their businesses to meet the surging demand for “.

Kunal Harisinghani, FlapKap’s VP of Growth added: “Our partnership with PayTabs is one that will add tremendous value to the SME ecosystem. It’s the first time in the region that a best-in-class Payments Solutions provider and an innovative Revenue-Based-Funding solution have come together. FlapKap and PayTabs share a similar agenda to impact the SME and Ecommerce segments; empowering them with data driven growth opportunities. With the FlapKap solutions being added as an offering for PayTabs merchants, brands can now unlock larger value creation by means of increased inventory purchasing power, marketing optimization, and regional expansion. I am extremely excited about this partnership, and we will certainly be evolving this further continuously to bring growth to our valued merchants.”

Source

Also read:

PayTabs introduces social commerce platform across GCC

Share.

RELATED POSTS

The investment agreement was signed by Abdulaziz Al-Omran, Founder and CEO of IMPACT46, and Youssef bin Abdullah Al-Rajhi, Chairman of Al-Matar Travel and Tourism Group Board of Directors
TDF, IMPACT46 announce joint investment in Al Matar Group
Ammar Al-Safadi, Housing Bank’s CEO, and From his part, Co-founder and CEO of ProgressSoft, Michael Wakileh
Housing Bank and ProgressSoft join forces
Fawry FMCG partners With Edita to enhance digital financial services solutions and financial inclusion
Fawry forges alliance with Edita
  • Tamkeen Insurance banner
  • International Assurance

LATEST POSTS

Looking for abandoned cart email best practices? We discuss 7 points you should keep in mind to craft compelling emails to recover lost sales in 2024.
FAB Boosts ExCo Team With Appointment of Two Global Bank Veterans. From L To R - Simon Thorn as Group Chief Compliance Officer of FAB And Neil Barrable, Group Chief Credit Officer
Moro Hub And SAPs Integrated Alliance To Bring Business AI In UAE. The Strategic Collaboration Announced at Dubai ‘AI Retreat’ to Integrate SAP’s Business AI into Moro Hub Data Center by 2025
Bridgestone MEA Stresses On The Vitality of Innovative Fleet And Telematics At Fleet And Mobility Summit wherein industry experts shed light on vital topics linked to the industry including sustainable practices, digital transformation and the evolving landscape of urban mobility