CCAvenue.ae launches mobile-based QR Code payment solution in the UAE

This is the company's first foray into the offline payment space in the UAE market

Payment gateway CCAvenue.ae, the UAE-based subsidiary of fintech firm Infibeam Avenues, on Monday announced the launch of a mobile-based QR Code payment solution for merchants in the UAE market. 

"For the first time, we are foraying into the offline payment space in the UAE market with our innovative QR-Code payment offerings for merchants," said Arun Jeevaraj, vice president of business and operations, UAE & Saudi Arabia, CCAvenue.ae.

It is a pivotal and strategic move marking the company's debut on the international stage of offline payment solutions, starting with the UAE market, the company said in a statement. 

The company is also set to launch CCAvenue TapPay (SoftPoS) in the UAE market as part of CCAvenue.ae, which will convert an NFC-enabled mobile device to function as a POS (point-of-sale) machine, allowing card payments with just a tap. 

This payment software can be downloaded from Google Play Store, the company added. 

"In a bid to propel the growth of the digital payment sector in the UAE, we have unveiled QR code payment solutions for our merchants. This strategic move is in response to the rising popularity of QR code-based mobile payments within the UAE market, a trend poised to ascend in the forthcoming years. This surge is intrinsically linked to the rise of e-commerce, the digitization of business operations, and the overarching digital transformation sweeping through the UAE economy," said Vishwas Patel, Joint Managing Director of Infibeam Avenues. 

CCAvenue.ae claims to have processed transactions worth AED (United Arab Emirates Dirham) 24.5 billion to date. 

The company said it has processed 23.5 million transactions to date. 

In August 2019, Infibeam Avenues partnered with Riyad Bank to provide digital payment solutions in Saudi Arabia's digital payment landscape. The company said it has partnerships with Oman's financial institutions, such as Bank Muscat and Bank Dhofar. The company has ventured into Australian and US markets. 

Infibeam Avenues said the company has a presence in global markets such as the USA, Australia, the MENA (Middle East and North African) region, and other international territories.