- Telr anticipates online payments traffic across social media platforms to increase by 30% over the coming year
Telr, the region’s leading online payment solution provider, demonstrates its e-commerce payments and merchant fraud prevention solutions at Seamless Middle East 2017 taking place at Dubai International Convention & Exhibition Center this week.
At the exhibition, executives at Telr shares insights on e-payment trends and solutions for SMEs across the region, especially in emerging markets, including subscription payments, payments through mobile app, tracking fraudulent consumer behaviour, multicurrency and payments from Facebook and Twitter (social commerce).
Online payments, including mobile payments and e-commerce, will be a cornerstone of the digitization wave in the Middle East over the next 4 to 5 years, presenting a number of opportunities for SMEs and retailers in the UAE. According to the Euromonitor 2016 report, online retail was reported to be less than 1.5% of the total retail sales in Middle East region in 2015, while mature e-commerce markets are seeing 15% to 20% of their total retail business from online purchases.
As per the 2016 Mary Meeker report, there is an increasing trend across social media channels of a transition from simple social conversation to business conversation and online transactions. In these instances, customers do not need to visit the merchant’s website to make payments. This in turn helps drive online payment tools such as email invoicing and quick links, which are expected to increase by more than 30% of payment features use in the next year.
Many merchants that have an offline presence can enable their presence on the web, mobile apps and social media and accept online payments.
“There is a digitisation wave across the UAE. With e-commerce penetration currently at a lower level than markets in Europe and North America, it is important that the UAE merchants embrace e-commerce and expand online and each to their consumers in overseas markets,” said Sirish Kumar, Founder & CEO of online payment gateway,Telr.
“We are excited about UAE Smart Government’s drive towards a cashless society and are committed to continue contributing to the ecosystem that will help this exciting initiative become a reality.”