Dubai Economy and MyFatoorah join hands to facilitate e-payments for DED Trader Licence holder transactions

Dubai Economy and MyFatoorah join hands to facilitate e-payments for DED Trader Licence holder transactions

The Business Registration & Licensing (BRL) sector of Dubai Economy has partnered with MyFatoorah to facilitate e-payments for Dubai Economy’s DED Trader Licence holder transactions.

This is in response to the increasing demand among for e-payment options, and the awareness of traders to enhance their e-presence following the pandemic, as well as the continuous efforts of BRL to support Dubai’s economic sectors and drive sustainable growth.  

“We have a high awareness in the UAE regarding digital payment systems and solutions developed by government entities, banks and currency exchange agencies led by high levels of smartphone penetration,” said Omar Al Mehairi, Director of Development and Follow-up Division in BRL sector.

“The use of e-payments and e-commerce transactions continues to rise, underlining the increased confidence in online payments. Through our partnership with MyFatoorah, which is specialized in providing a wide range of e-payment solutions, we are further supporting the business community to embrace e-commerce,” added Al Mehairi.

Al Muhairi said the cooperation reiterates Dubai Economy’s interest in promoting digital payments, as it is a key enabler to facilitate doing business and smart transformation, placing Dubai in an advanced position as a global and competitive centre for business.

“MyFatoorah has been playing a key role in driving digital payment adoption in the region by providing convenient and easy-to-use payment link and payment gateway solutions to traders of all sizes, especially start-ups and SMEs. Our partnership with Dubai Economy will be a unique opportunity and driver to support the growth of all businesses in Dubai and across the UAE,” said Abdullah Al Dabbous, Founder & CEO, MyFatoorah.

The advantages of joining MyFatoorah include a comprehensive e-payment gateway solution, direct payment links, control panels for transactions, full support to personal and business bank accounts and 24/7 customer service via supportuae@myfatoorah.com.

DED Trader licence holders can benefit from MyFatoorah services by sharing Dubai Economy’s DED Trader Licence with the team via email to Hisham Alhusari on halhusari@myfatoorah.com or mobile number 0585874781.    

The DED Trader, which is issued by Dubai Economy to license freelancers in their place of residence in Dubai, has seen overwhelming response with 4626 licences issued during the first ten months (January to end of October) of this year, an increase of 130% compared to the same period last year when the number of licences issued were 2011.

Dubai Economy focuses on providing support to DED Trader licence holders by signing partnerships with government and private sectors, providing facilities for their business growth as well as opening new channels by enhancing cooperation with major sales outlets.

The ‘DED Trader’ licence can be obtained from anywhere by logging on to dedtrader.ae and following a few simple steps - create username and password; enter address details, and social media accounts for the project/business; select the activity and trade name, and finally, make payment and receive the licence electronically. The licensee cannot open a shop/store but can avail of three visas if the ownership is 100% Emirati and legal liability falls under the licence holder.

News Source: https://mediaoffice.ae/en/news/2020/November/18-11/Dubai-Economy-and-MyFatoorahnoin-hands-to-facilitate

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