News

Checkout.com Gains Acquiring License From UAE Central Bank

The direct acquiring license allows Checkout.com to unlock the full potential of its platform in the UAE while offering cost savings and improved performance for merchants.

Published

12 months ago

May 24, 2023

Nour Nasir

checkout.com gains acquiring license from uae central bank

The United Arab Emirates Central Bank has granted Global payment service provider Checkout.com a Retail Payment Services license. The recent press release by the platform notes that Checkout.com is “the first global payments provider to be granted an acquiring license in the country”, and the announcement strengthens its position as a leader across the MENA region.

Now that Checkout.com has secured an acquiring license, the company can unlock its full proposition for UAE merchants, including card acquiring, payment aggregation, and cross-border fund transfers. Most importantly, Checkout.com’s new acquiring license gives the company greater control over the entire payment processing mechanism and enables best-in-class payment acceptance rates for merchants.

“Our thanks to the Central Bank of the UAE for their approval. The issuance of this license shows the level of trust, commitment, and strength of the relationship we continue to have in serving both domestic and international brands to expand in the UAE. We’re proud of the small part we’ve played to increase the trust in digital payments and allow businesses in the digital economy to thrive,” says CEO and Founder of Checkout.com, Guillaume Pousaz.

Also Read: Paymob Gets Official Certification To Operate In Saudi Arabia

The UAE has recently witnessed an explosive eCommerce growth trajectory. It is forecast to reach a Compound Annual Growth Rate (CAGR) of 11%, increasing the eCommerce market size to $17Bn by 2025. 91% of consumers in the UAE now favor making their purchases online, and Checkout.com already supports some of the country’s top brand names, including Cafu, Washmen, Shahid, Qlub, Carrefour, Namshi, Mamo, MakeMyTrip, and The Entertainer.

Related Topics:Checkout.com FinTech United Arab Emirates

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chatlyn Unveils Hospitality Chatbot At Arabian Travel Market 2024

The advanced AI software sets new industry standards and can understand and respond to detailed customer queries.

Published

6 hours ago

May 6, 2024

Nour Nasir

chatlyn

chatlyn, a leading provider of guest experience software for the travel and hospitality sector, has unveiled its latest AI chatbot at the Arabian Travel Market (ATM) 2024 as part of a strategic expansion into the Middle East.

The new chatbot demonstrates exceptional proficiency in understanding natural language nuances and grammatical structures, and can accommodate various languages, including Arabic. The AI bot’s capability ensures prompt, accurate responses, benefiting hotels with diverse international guest lists and significantly reducing response times.

According to chatlyn, its latest creation has “the capacity to process up to 4,000 tokens and a doubled data capacity,” and is able to outperform competitors in depth and responsiveness during every interaction. Moreover, users can upload business PDFs to receive precise answers instantly, showcasing the chatbot’s effectiveness as a dynamic knowledge repository.

“During the BETA phase, we saw customers increase their success rate in resolving queries by fifteen times simply by uploading a PDF with their information and integrating the chatbot into their main communication channels,” explained Michael Urbanek, chatlyn’s CTO.

Also Read: Joby To Establish All-Electric Air Taxi Ecosystem Across The UAE

Since its inception in late 2022, chatlyn has experienced rapid expansion, and now serves over 1,000 properties globally, including numerous renowned brands in the travel and hospitality sector.

The company’s product suite is focused on improving customer engagement in hospitality, featuring an omnichannel inbox, AI assistants, and Automation Studio, for seamless interaction across web chat, WhatsApp, email, and social media. This AI-powered platform enhances customer interactions, prioritizing satisfaction and operational efficiency.

chatlyn has already established a strong foothold in the Middle East, and now collaborates with various hospitality companies and properties, including GoMosafer, La Quinta by Wyndham, Luxury Bookings, and Amsaan Tours.