Foloosi is a UAE
Fintech startup facilitating consumer-to-business card payments by enabling the
business to display QR code, Payment Link and API integrations for the customer
to scan & pay in a tap.
United Arab Emirates
has the highest banking penetration rate in the Middle East region. Though in
contrary, according to UAE central bank figures (in 2017): 75% of the whole UAE
economy is based on cash transactions.
Furthermore,
compareit4me.com survey (2018) shows that 85% of online orders are processed
through cash-on-delivery option as a method of payment. Residents need more
advanced and modern options in line with the UAE’s 2021 vision.
Foloosi enables digital
economy empowerment for local businesses, operating merchants and most importantly
the e-commerce sector. Foloosi features a wide range of advanced technological
products on its modern platform – including the core function of ‘Scan to Pay’
feature, which allows a business to accept card payment by displaying QR code
technology.
We have a unique
offering, since no other digital platform in our region serves to onboard
businesses and consumers alike while complimenting the banking system using the
QR code technology.
In hindsight, Foloosi
is not a ‘wallet’ as the definition of the UAE central bank where value or
funds are stored, rather it is a technological software using advanced methods
of integrations to connect card payment processors, payment gateways,
businesses and consumers all under one platform to make possible displaying QR
code for the scan to pay.
It is the easiest
option for a delivery driver to accept card payments and it is definitely a
much more secure method of payment than cash.
Foloosi was founded
by Omar Bin Brek and Mohan Karuppiah along with their in-house team of only 6
people. They leveraged the idea and finally made it to this stage of value for
the UAE market.
- Foloosi provides POS system for
small and medium-size businesses that will enable merchants to process
payments digitally.
- POS software helps to manage
your business on your device with the Foloosi POS app. Also adjust items,
manage employees, and see real-time reports from anywhere.
- People of UAE can pay their
utility bills online for free using digital payments app Foloosi.
- Foloosi had launched a specially
designed service to help users pay their bills in just seconds without
paying any transaction charges.
We distinguish
ourselves by offering local financial intelligence educational feeds using
machine learning techniques and artificial intelligence, besides great user
retainment features such as social event bookings.
Together we have come
up with a fresh concept, in line with the UAE’s 2021 vision, complimenting the
banking system and an ambitious but achievable plan to build into a thriving
new business.
Foloosi enables a
simple and easy way to accept, process, disburses payment solution for
businesses. We help businesses by providing payment gateway, payment link,
subscriptions, and POS software. Foloosi payment solutions can be integrated by
both web and mobile applications.
Mr. Omar Bin Brek,
founder of Foloosi says…
“Our aim is to bring innovative payment transactions throughout
UAE. We developed Folossi platform in order to make transactions simple, fast
and secure and to reform older method of transaction i.e. cash payments and our
technological innovation solves the teething problem of processing payments.”
