UAE company Mashreq has launched a cutting edge payments solution with CCAvenue, an Indian online payments service provider.
The new solution is set to change the way small businesses, individuals as well as institutions accept payments online.
For smaller businesses and individuals the solution will offer easier integrations, better customization as well as quicker on-boarding, allowing businesses to `go live’ in a few weeks rather than a few months. Now, almost any individual, entity or enterprise can start accepting card payments online in the UAE.
The new platform will also provide unparalleled product differentiation for larger businesses, adding multiple currency processing, automated electronic invoicing through SMS and email and social media in-stream payments to their payments arsenal.
One of the key features is the Smart Dynamic Routing System which automatically switches transactions to the best performing gateway ensuring higher transaction success rates.
CCAvenue is the pioneer in the online payments landscape in India powering thousands online merchants. Some of the biggest e-commerce players like Cleartrip, Makemytrip, Yatra, Myntra.com, Amway, GoDaddy, Air Asia and Samsung use the CCAvenue’s payments solution.
“E-commerce and m-commerce are growing exponentially and Mashreq stands committed to provide industry defining propositions to help businesses get the best payment solutions to power their growth,” said Nimish Dwivedi, head of payments at Mashreq. “Our aim is to ensure ubiquity in e-commerce payment solutions that allow everyone from an online florist to individuals who are running events, training, coaching classes to large corporates to get world class and easy to integrate payment solutions. The range, simplicity and speed of payment solutions that this partnership with CC Avenue allows us to offer will meet the online payment needs of merchants across the board.”
“Scalability, functionality, dependability and adaptability are important criteria for online payment processors in a dynamic e-commerce space,” said Vishwas Patel, CEO of CCAvenue. “We are confident that our partnership with Mashreq will meet the varied needs of a rapidly growing e-commerce market in the region. Our innovative features will prove to be a valuable force-multiplier for the eCommerce merchant”
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.