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Why SMEs setting up business in the UAE should consider using payment gateway solutions

As a start-up or SME payment gateways provide a fast and effective way to support online payments that avoids the pit falls of cashflow. Payment gateways provide a highly secure, reliable personalized environment for businesses and customers to process transactions. As compared to cash payments, it is significantly better in terms of speed, convenience and efficiency. Here are 5 ways in which payment gateway solutions can support you on your business set-up journey:

Helps scale up your online business
In the long term, cashless processes will enable the margins of your businesses to grow by an expected 2-3 times because businesses that adopt digital payment methods are able to modify their business models, scale up and expand into new revenue streams more easily. As the range of payment gateway solutions continues to evolve and grow and there are multiple ways you can integrate these in to your operations to support the growth of your business. However, to achieve the full potential, consumer adoption is key and it is therefore imperative, that you build a secure environment and demonstrate the ability to minimize online frauds, thereby changing the cash-focused mindset whilst building your consumer’s confidence.

Monitor transactions in real-time
Online payment gateways will provide you with complete visibility over your business transactions in real-time and once the transaction is complete, you will be able to receive your payments instantly. It is the most reliable choice to save time and money and also manage payments efficiently as you wouldn’t have to incur the cost of handling cash and deal with the administrative burden. As a start-up business being able to see real-time transactions also provides you with visibility on your success.

Reliable and secure
One of the key challenges that entrepreneurs face when setting up a business is to offer flexible and safe mode of payment to your customers. Whilst online payment gateways allow a smooth transaction process, it is crucial to use a reliable and secure payment gateway solution which offers payment security and data protection. Artificial intelligence has emerged as one of the most ground breaking technologies to help payment gateway solutions safeguard online transactions. For instance, Telr uses a proprietary antifraud software, which monitors each transaction in real-time and checks it against any markers of fraudulent transaction. Furthermore, Telr ensures the safety of online data against hacks with a PCI DSS Level 1 certified security.

Beyond the website
In recent years with the growth of social media and other online platforms, there has been a significant push from businesses to take online payments beyond the website and apply it across other channels. You can now adopt payment gateway solutions for your business’ social media platforms which will allow you to convert your social media fans into buyers and help grow the business. Telr provides customers with an option to purchase directly on social media platforms with just a few clicks. There are also payment gateway solutions which help you generate payments through messaging applications such as WhatsApp. You also have the option to bring the power of online payments to the offline world; you could provide customers a system generated QR codes which would allow them to make online payments in-store or at a point of delivery. These are all things to consider when looking to expand your business growth opportunities.

There are multiple payment gateway options available to SMEs to choose from and you must carefully review the features and functionalities of your business model and make the right choice for your operations to grow successfully. For more information on how CZ Payment Gateway can support the growth of your business, visit https://www.creativezone.ae/cz-payment-gateway/.

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