US-based digital payment company, Stripe has expanded its business to UAE by setting up its regional headquarters in Dubai.
Businesses in the UAE operating online transactions can now use Stripe for online payments, reach customers, make pay-outs, subscription and invoicing software, and reduce fraudulent activities.
In a statement, EMEA Business Lead at Stripe, Matt Henderson stated that the UAE to be a thriving hub for technology, supported by an open ecosystem of entrepreneurs and business experts, tech-savvy consumers, and a strong investment spirit. Stripe has been working with various clients in the Middle East on a trial basis prior to its launch to test the feasibility of its technology.
The Dublin- and San Francisco-headquartered company has joined hands with Dubai’s Network International to roll out its service in the Middle East region.
The total value of digital payment transactions has skyrocketed with $18.5 billion last year and an expectant rise of another $10 billion in the next two years.
According to Stripe, over 10,000 businesses have had their attention to the company’s UAE launch as the company arranges invitations in the first few weeks.