February 28, 2024

Swipe2B surpasses USD 2 billion of B2B supplier payments

Swipe2B’s payment solution processes $2bln of B2B supplier payments in the UAE
Swipe2B’s payment solution processes $2bln of B2B supplier payments in the UAE

Swipe2B surpasses USD 2 billion of B2B supplier payments. The solution unlocks liquidity and facilitates early payments for both buyers and suppliers. As the economic hub of the Middle East, the UAE boasts a thriving business ecosystem and Swipe2B has emerged as a catalyst for growth and efficiency. The company’s innovative payment solution has redefined how businesses pay and get paid, providing an array of benefits for both buyers and suppliers across the UAE.

Swipe 2B

Amer Qavi, the entrepreneur behind Swipe2B created a holistic solution that addresses the pain points of both parties in a transaction. His mission was to simplify the B2B payment process while helping to boost liquidity and streamline cash management for companies.

With nearly 40 clients including New York University Abu Dhabi, Mastercard and DB Schenker, Swipe2B’s offerings resonate strongly with the UAE’s business community. Buyers in the region enjoy the privilege of extended credit terms, allowing them to optimize their working capital and cash flow. This extended credit period, spanning up to 55 days, enables businesses to allocate their resources more strategically and seize growth opportunities.

Meanwhile, approximately 2,600 suppliers enjoy early payments, boosting their liquidity, enhancing their financial stability and growth potential and eliminating the need to seek financing while they wait to get paid. This mutually beneficial solution also gives suppliers another payment method to offer their other clients. This not only financially strengthens SMEs but also contributes to the overall economic vitality of the UAE.

“At Swipe2B, we take pride in being headquartered in the UAE and serving the dynamic business community of this region. Our journey to the milestone of USD 2 billion in supplier payments underscores the trust our clients place in our innovative payment solutions,” stated Amer Qavi, CEO and Founder of Swipe2B. “Our success story is not just about numbers; it’s about the positive impact we’ve had on businesses of all sizes.”

Payment Solutions

In addition to payments, Swipe2B’s unique solution includes supplier enablement services, ensuring that suppliers can receive payments instantly into their bank account without the need for anyone to tap, swipe or enter card details on a screen or terminal. Transactions are then automatically reconciled, freeing up resources to focus on more valuable and strategic tasks.

“In today’s financial landscape of rising interest rates, Swipe2B’s solution is a game-changer,” says Qavi. “We’re not just aligning with the shift towards digital payments; we’re also addressing the critical need for liquidity and working capital.”

Swipe2B is revolutionizing B2B payments, making transactions simpler, more efficient and mutually beneficial for buyers and suppliers alike.




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