‘Most valuable’ US startup, Stripe in Dubai with eye on UAE’s $10b+ online payments space

‘Most valuable’ US startup, Stripe in Dubai with eye on UAE’s $10b+ online payments space

Dubai: Stripe, rated as most valuable startup in the US, is setting up base in Dubai. It has picked Dubai Internet City for the regional headquarters and from where it will extend its online payment services to this market. Businesses with online operations - and these days everyone is - in the UAE can use Stripe to accept online payments, make payouts, and reach customers anywhere. "It will be easier than ever for the network of leading global brands already using Stripe to bring their products and services to the UAE," a statement said. "Businesses still face challenges when trying to accept payments, make payouts, and manage the money side of internet businesses," said Matt Henderson, the EMEA Business Lead. "Stripe removes these complexities so businesses can focus on what makes them special." The total value of digital payment transactions in the UAE has doubled in the last two years, with $18. 5 billion of transactions in 2020, helped on, of course, by the lockdown measures and the subsequent surge in online commerce. The sector expected to add nearly another $10bn over the next two years. Stripe creates the online payment gateways for businesses to engage in online payments. The