Avenues World FZ LLC, a subsidiary of the Indian fintech company Infibeam Avenues, has launched a mobile-based QR code payment solution in the United Arab Emirates.
This move aims to seize the growing offline payments opportunity in the Emirate, marking the company’s first foray into international offline payments.
To date, CCAvenue.ae, their payment gateway brand in the UAE, has successfully processed AED 24.5 billion transactions, totalling approximately 23.5 million. Just this fiscal year, in August, it handled over AED 1 billion transactions.
“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, Business & Operations, UAE & Saudi Arabia, CCAvenue.ae.
Moreover, they’ve recently brought several new merchants, including Prime Association Management and Jaffer Bhai’s The Biryani King of Bombay.
Infibeam Avenues serves over 5,000 entities in the UAE market, including notable names like Burj Khalifa, Emaar, Damac, Nakheel, and Trump Golf Dubai. Their presence extends globally, including the US, Australia, and North African markets.
Vishwas Patel, joint managing director of Infibeam Avenues, emphasized that with this QR code solution in the UAE, they aim to tap into the local offline payments scene and provide businesses across major markets with a comprehensive omnichannel payment solution.