Wio Bank PJSC, the region’s first platform bank, has announced a partnership with Stripe, a financial infrastructure platform for businesses, which will enable SMEs in the UAE to access the power of e-commerce faster and more easily and conveniently.

Through this collaboration, Wio Business, the company’s first digital banking application, will enable SMEs and independent contractors—who up until now have had difficulty accessing payment products—to enter the world of e-commerce more quickly by providing them with an accessible Stripe account. As a result, they will be able to set up a payment gateway for their e-commerce firm and start taking payments right away. Wio Business and Stripe guarantee simple pay-as-you-go pricing and quick onboarding.

Soon after registering on the Wio Business app, users can quickly set up a payment gateway to optimize payments.

“We have a vision of facilitating more digital commerce while removing as much friction as possible for our customers. Partnering with Stripe is a natural path to accelerate that goal as more businesses turn to online commerce as an opportunity, necessity, and competitive advantage in today’s global economy.”

                                                                                        Jayesh Patel, CEO, Wio Bank.

Up until now, businesses have had to go through lengthy onboarding procedures that cost them a lot of time and money to accomplish, with the majority of suppliers demanding in-person onboarding. Wio’s quick and secure online setup for Stripe will allow UAE businesses access to the internet economy.

“The UAE is a global tech talent hub. However, too many companies still face challenges when trying to accept payments, make payouts, and manage the finances of their internet businesses. We’re thrilled to work with Wio to help remove these complexities so businesses can focus on what makes them special.”

                                                                            Girard Moussa, head of UAE at Stripe.