Foloosi is on the Top 20 Middle East Fintech

The past year has been eventful in the Middle East’s financial services sector. Last year, we saw the Saudi British Bank merge with Al Awwal Bank to create Saudi Arabia’s third largest lender. This came after Abu Dhabi Commercial Bank’s tie-up with Union National Bank and the subsequent takeover of Al Hilal bank as its Sharia-compliant arm in the U.A.E. The Islamic banking sector has also seen the merger of the region’s largest Islamic bank, Dubai Islamic Bank, with Noor Bank, a U.A.E.-based Sharia-compliant lender.

These mergers have reduced competition in an oversaturated banking market and in the long run will improve the profitability of the banking system. Dubai-based investment bank, Shuaa Capital, has also agreed to merge with its largest shareholder, Abu Dhabi Financial Group, to create a $12 billion asset under management firm.

And the region’s payment’s sector saw two large IPOs: one from Finablr, which owns the U.A.E Exchange brand, and one by payments solution giant, Network International. Both are listed on the London Stock Exchange.

This year we have collated two lists to mark this changing landscape: the Fintech 20 which is a collection of the most promising financial technology startups in the region.

Only fintech startups that were founded during or after 2012 were included, and we ranked them according to:

·         Funds raised from external investors

·         Scalability of the business

Name	Description	Founder	Funding	Country
PayTabs	Online Payment Processing Solutions	Abdulaziz Al Jouf	$26 M	Saudi Arabia
Bayzat	Online Health Insurance And HR Solutions Provider	Talal Bayaa And Brian Habibi	$25 M	UAE
Aqeed	Insurance Solutions Platform	Hadi Radwan	$18 M	UAE
Beehive	SME Focused Peer2peer Lending Platform	Craig Moore	$15.5 M	UAE
Souqalmal.Com	Financial Products Comparison Site	Ambareen Musa	$15 M	UAE
Eureeca	Crowdfunding Platform	Sam Quawasmi And Chris Thomas	$12.3 M	UAE
Liwwa	Peer-To-Peer Lending Platform	Ahmed Moor And Samer Atiani	$8.55 M	Jordan
Expensya	Cloud Based Multi-Platform Expense Management Software	Ahmed Moor And Samer Atiani	$5.7 M	Tunisia/ France
NymCard	Payment Solutions	Omar Onsi And Ayman Chalhoub	$4 M	Lebanon
POSRocket	IPad-Based Point-Of-Sale Solutions	Zeid Husban	$2.36 M	Jordan
Sarwa	Robo Wealth Advisor	Mark Chahwan- Jad Sayegh And Nadine Mezher	$1.5 M	UAE
Risk+ Solutions	Financial Intelligence And Risk Management Solutions	Jad G. Doumith And Chadi El Nawar	$1.45 M	Lebanon
Zbooni	Connected Chat Commerce App	Ramy Assaf- Mohamed Hamedi- Ashraf Atia	$1.4 M	UAE
Democrance	Insurance Marketplace For The Underserved	Michele Grosso Alberto Perez And Damian Dimmich	$1.3 M	UAE
Vapulus	E-Payment Gateway	Abdelrahman El Shaarawy- Islam Mousa- Khalid Gabr	$1.065 M	Egypt
Monami Tech	Financial Services	Ammar Afif	$1 M	UAE
Moneyfellows	Crowd Funding From Social Networks	Ahmed Wadi	$980 K	Egypt
PointCheckout	Payment Gateway For Loyalty Points	Bashar Saleh And Tarek Ghobar	$600 K	UAE
Foloosi	Payment Solutions Platform	Omar Bin Brek- Mohan Karuppiah	$500 K	UAE
Paymob	Digital Financial Enabler	Islam Shawky- Alain El-Hajj- Mostafa Menessy	Confidential	Egypt

Source: https://www.forbesmiddleeast.com/list/middle-east-fintech-20

How to Change Foloosi Business Account Password?

DISCLAIMER

· No one from FOLOOSI will never call you and ask you to change your password.

· Never share your card number, CVV, PIN, OTP or Password with anyone, even if caller claims to be a Foloosi employee.

How to Change your password:

Step 1: https://www.foloosi.com/merchant

Step 2: Please enter your Registered mail-id and password

Step 3: In the top right corner of your merchant panel Tap profile

Step 4: There you can set your new password.

Sources: https://www.foloosi.com/blog/guide-to-foloosi-business-queries/how-to-change-foloosi-business-account-password/

Dubai-based Foloosi – Empowering Digital Economy with its POS System

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.”

Source: https://laffaz.com/dubai-based-foloosi-empowering-digital-economy-with-its-pos-system/

Digital Payments: a developing trend

The digital payments sector in 2018 created a market of around 38 billion dollars comprehensively: the numbers in regards to the pattern of digital payments are continually developing with a positive normal yearly rate of 18% and a turnover of very nearly 90 billion dollars assessed by 2023.

These are the information that risen up out of the most recent statistical surveying of the Report Linker organization, breaks down that unmistakably feature the always expanding pattern in respect to the advanced digital payments advertise: the relentless presentation of imaginative advances and the improvement of a continually associated correspondence arrange are the principle essentials for concocting new business openings with brilliant and unique payment strategies.

Speed, solace and innovation are the primary highlights of the new advanced payment frameworks: in a cutting edge and carefully dynamic organization 24 hours per day it is unavoidable that the deals and payment parts will experience radical changes. On the off chance that online deals, web based business and buys by means of Social media speak to the most recent outskirts in the business circle, Digital Payments, ePayments and Mobile Payments are the genuine developments in the payments area.

The “Digital Payments Study Visa” investigate did in 2017 conveys that 68% of clients in Europe utilize digital payments to purchase products or services: the real buyers of digital payments administrations are the Millenials (individuals conceived somewhere in the range of 1981 and 1996) with a level of action of practically 90%.

Do you need to develop your business? Find the rates and advantages of UAE Foloosi payment solution.

What are digital payments? When can a payment method be defined as such?

The expression “digital payments” characterizes a wide range of payments made in advanced mode: online buys, electronic wallet installments and web cash exchange arrangements; P2P payments and exchanges made in physical stores utilizing NFC innovation and the contact less POS mode are additionally incorporated into the digital payment class.

Albeit altogether different from one another, a wide range of digital payments have as their essential goal the improvement of the client experience, ensuring the client solace and speed: POS and contactless end up being down to earth arrangements and perfect for activities inside stores, utilizations of online deals and digital transactions are the payment techniques most valued by internet business clients because of a natural, protected and quick service.

Payments via smart phone with e-wallets and applications

Transactions by means of smart phones are without a doubt the most inventive classification inside digital payments and can be isolated into four sorts: Mobile Remote Commerce, Mobile Remote Payment, Mobile Proximity Payment and Mobile Proximity Commerce. The Mobile Remote Commerce classification incorporates all the buying forms that happen by means of cell phone with charge on a payment card or electronic handbag, Mobile Remote Payment demonstrate rather all installments of top-ups, charges, parking garages or bulletins happened through cell phone with charge on e wallet or card. The Mobile Proximity Payment type alludes to installments made at the purposes of offer, approved by cell phones utilizing NFC or QR codes and charged on paper, electronic tote or financial balance, lastly Mobile Proximity Commerce incorporates every one of the administrations supporting the in-store client experience, for example, approval of coupons or loyalty services.

Digital payments- Advantages

Digital payments offer multiple innovative solutions compared to the classic payment with cash, we discover what are the points in favor of digital payments:

Security and protection inclusion

Most digital payments offer the client a substantial protection inclusion for the merchandise bought on the web: much of the time it is conceivable to get speedy discounts if there should arise an occurrence of item returns and discounts legitimate in case of a cheat. The protection guidelines and data security frameworks are progressively increasing more certainty from shoppers who incline toward online buys over physical buys.

Rapidity and simplicity

Online shoppers are searching for speed and effortlessness in their acquiring techniques: Digital payments can continually advance themselves, ensuring security, speed and solace to the client who utilizes them.

Internationalization of payments

With the utilization of digital payments there are no trade issues: it is conceivable to go in any nation by paying through your charge card or cell phone on account of the universal digital payment circuits.

Would you like to develop your business and improve your business results?

With UAE Foloosi digital payment solution you can locate the best online payment solution for your business or day by day needs.

Source: https://www.foloosi.com/blog/digital-payments-a-developing-trend/