Dubai: The UAE digital-only Wio Bank has struck a partnership with Stripe, the financial infrastructure platform for businesses, to enable SMEs in the UAE to access ecommerce faster and more conveniently.
Wio Business, the digital banking app from Wio, will allow SMEs and freelancers – ‘who previously struggled to get access to payment products’ - to activate their e-commerce operations with a payment gateway and receive payments instantly. Wio Business and Stripe will ensure ‘easy onboarding and a pay-as-you-go pricing model’.
Jayesh Patel, CEO of Wio Bank, said, “We have a vision of facilitating more digital commerce while removing as much friction as possible for our customers. Partnering with Stripe is a natural path to accelerate that goal as more businesses turn to online commerce as an opportunity, necessity, and competitive advantage in today’s global economy.”
To date, accepting online payments from the UAE required multiple onboarding processes ‘that take significant time and investment for businesses to complete’. Most providers requiring physical in-person onboarding.
Soon, Wio users will be able to send payment links to their clients involving a ‘couple of taps’. Stripe onboarding will be embedded within the app, meaning users can create a Stripe account and start sending payment links to clients.
