Stripe, a provider of online payment processing for internet business, has finally expanded to the Middle East with its official launch in the United Arab Emirates. The Irish-American company also opened an office in Dubai Internet City, allowing it to be closer to its new customer base.
At first, Stripe will only be available to UAE businesses, allowing them to accept online payments, make payouts, mitigate fraud, and attract customers from around the world.
“The UAE is a thriving hub for technology, supported by strong investor appetite, internet-savvy consumers, and an open, innovative ecosystem of business leaders and entrepreneurs,” said Matt Henderson, EMEA Business Lead at Stripe. “Our launch today also means we can now connect our global user base to the Gulf, enabling them to seamlessly expand their operations in the region.”
Stripe’s entry into the Middle East market comes just weeks after its latest round of funding, which has resulted in the company’s value jumping up to $95 billion and making it one of the most valuable fintech companies in the world.
The UAE is the perfect entry point for the online payment processing provider because the total value of digital payment transactions in the gulf country has doubled in the last two years alone, reaching $18.5 billion in 2020. If the UAE remains on the current growth trajectory, its e-commerce sector is expected to add nearly another $10 billion over the next two years.
Another factor that makes the UAE such an ideal expansion point is the fact that accepting online payments in the country has historically been incredibly challenging. Stripe provides a straightforward setup process and developer-friendly APIs, making it easy for companies of all sizes to improve their online presence.
Last year, Stripe launched in the Czech Republic, Hungary, Romania, Bulgaria, Cyprus, and Malta. The company also expanded into Africa via Nigeria technology startup Paystack. In total, Stripe currently processes hundreds of billions of dollars each year.
Samsung Galaxy Unpacked Event Will Take Place On August 11
In addition to 2 new foldable smartphones, you can also look forward to the Galaxy Watch 4 and the Galaxy Buds 2.
After several leaks, Samsung has officially confirmed the date and time when its upcoming Galaxy Unpacked event will take place: August 11, 2021 at 10 AM EST.
Besides the confirmation, Samsung has rewarded its fans for their patience by releasing an official trailer that hints at the products that will soon be revealed in their full glory.
“Change is the only constant in the world of innovation. By driving new ideas forward and transforming existing experiences, it redefines the boundaries of what’s possible,” the official press release says. “As the excitement for the upcoming Galaxy Unpacked on August 11 continues to build, Samsung Electronics has released a trailer teasing the surprises that lie in wait for Galaxy fans.”
The products teased by the trailer are the Galaxy Z Fold 3 and the Galaxy Z Flip 3 (check out the complete leaked Galaxy device lineup). Both are foldable smartphones, but each targets different customers.
The Galaxy Z Fold 3 folds along the vertical axis, and it’s expected to boast a huge 7.7-inch interior display and a smaller exterior display, giving users plenty of screen real estate for basic apps and multimedia alike. It could be Samsung’s first smartphone with an under-display camera, and it will certainly be powered by Qualcomm’s top-of-the-line processor.
As the name suggests, the Galaxy Z Flip 3 folds along the horizontal axis, allowing it to comfortably hide even inside the tiny pockets so many women’s pants come with. Just like its larger relative, it will come with flagship specifications, so playing the latest games or taking beautiful pictures at night shouldn’t be a problem.
In addition to the two foldable smartphones, you can also look forward to the Galaxy Watch 4 and the Galaxy Buds 2.
How To Watch The Samsung Galaxy Unpacked Event
The Samsung Galaxy Unpacked event will be accessible only to online viewers, and you’ll be able to tune it either directly from Samsung.com or on YouTube.