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Stripe Enters The Middle East With Its UAE Launch

Stripe will initially only be available to UAE businesses, allowing them to accept online payments, make payouts, mitigate fraud, and attract customers from around the world.

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stripe enters the middle east with its uae launch

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 launches in the united arab emirates

Stripe Newsroom

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.

Also Read: Sarwa Helps UAE Residents Easily Invest In Global Stocks

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.

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UAE Comes Out Strongly In Guinness World Records 2023

Guinness, the renowned cataloger of record-breaking events, has released its latest annual, after sifting through 40,000 applications — and the Arab world is heavily featured.

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uae comes out strongly in guinness world records 2023
Guinness

Guinness World Records, the authority on record-breaking global achievements, has just announced its latest release, “Guinness World Records 2023 (GWR2023),” which will be available online and in physical stores across the Arab region from today.

As usual, GWR 2023 features all of the latest achievements from around the world (and space!), with special features and updated graphics to bring the stories to life.

So why the interest in the latest Guinness installment? Well, it turns out the Arab Region is strongly represented in the book, with more than 50 records featured in the new edition, which is no mean feat considering the volume of competition.

“We’ve sifted through nearly 40,000 record applications over the past year to bring you Guinness World Records 2023. People from all walks of life continue to be fascinated by extremes, and we’ve received claims from across the planet – indeed, even from space! This is why I’ve said the new edition is out of this world,” says Craig Glenday, Guinness Editor in Chief.

Of interest to readers of this platform, Saudi Arabia and the United Arab Emirates both get to flex their record-breaking muscles.

deepest swimming pool in the world

World’s Deepest Swimming Pool

Saudi Arabia claims the title of “Largest LED Structure and Suspended Ornament” courtesy of the Noor Riyadh Festival, as well as other weird and wonderful titles, including the “Largest Lego Formula 1 Car”, as well as perhaps more prestigious honors, such as “Largest Mirrored Building”, “Largest Clock Face”, “Tallest Lighthouse” and the “Largest Geodesic Dome”.

largest mirrored building

World’s Largest Mirrored Building

Also Read: Fan Spends 7 Years To Create Super Mario Bros 5

Not to be outdone, the UAE has claimed several humanitarian record-breaking titles, including the “Longest Video Livestream” (by The Mohammed Bin Rashid Al Maktoum Global Initiatives and pan Arab influencer Hassan Suleiman), the “Largest Donation for Medical Treatment”, and the “Most Awareness Ribbons Made in One Hour”.

longest video livestream

World’s Longest Video Livestream

On the tech front, the UAE also claims several prestigious firsts, including “First 3D-Printed Laboratory”, while the world-renowned Burj Khalifa hangs on to its title of “World’s Tallest Building”.

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