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Aramex SMART

smart.aramex.com

Founded Year

1982

About Aramex SMART

Aramex SMART is an invite-only payments option for eCommerce purchases. The payment option allows for users to receive items before any payment is processed, to allow the user to see the item in hand before any money is transferred.

Headquarters Location

Warehouse and Building No. 3 Umm Ramool

Dubai,

United Arab Emirates

+966 11 512 1160

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Expert Collections containing Aramex SMART

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Aramex SMART is included in 1 Expert Collection, including Digital Lending.

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Latest Aramex SMART News

UAE Buy Now Pay Later Markets and Investment Opportunities Report 2022 Featuring Tabby, Spotti, postpay, Tamara, Cashew Payments, Aramex Smart, Rise, & Afterpay

Apr 28, 2022

BNPL payments in the UAE are expected to grow by 89.4% on annual basis to reach US$ 1822.7 million in 2022. Medium to long term growth story of BNPL industry in the UAE remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 45.9% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 962.2 million in 2021 to reach US$ 17551.7 million by 2028. In the UAE, the global pandemic has resulted in a shift in consumer spending habits and accelerated adoption of online shopping platforms. This shift in the overall consumer behavior, along with the rise of digital payment solutions, is resulting in buy now, pay later (BNPL) becoming one of the fastest-growing payments methods in the country. The adoption of the BNPL products and services has been on a constant rise in the region over the last four to eight quarters. Several startups and global BNPL players are offering their innovative products and deferred payment services for consumers in the UAE. Moreover, the adoption from merchants is also on the rise as more and more consumers are demanding the BNPL payment method for both in-store as well as online purchases. Strategic partnership to launch innovative BNPL solution in the UAE As the digital payments landscape continues to evolve in the UAE, BNPL firms along with global payment giants are launching innovative, first-of-its-kind shop anywhere BNPL schemes. In November 2021, Postpay, one of the leading BNPL platforms in UAE, entered into a strategic collaboration with the Commercial Bank of Dubai and Mastercard. The firm has partnered strategically to launch the region's first-of-its-kind shop anywhere BNPL scheme, with the aim to drive digital payments growth in the UAE. The shop anywhere BNPL scheme allows consumers to purchase online or in-store at thousands of physical stores, such as Decathlon, GAP, Level Shoes, Ace, Apple, Azadea, H&M, Home Center, Mumzworld, Sephora, Sharaf DG, Shein, and Zara. The publisher expects more strategic partnerships between BNPL providers, banking institutions, and global payment giants over the next four to eight quarters in the UAE. This will subsequently support the growth of the overall deferred payment industry in the country from the short to medium-term perspective. BNPL firms are focusing on launching virtual BNPL prepaid cards in the UAE As the competition continues to intensify in the UAE BNPL market, firms are developing new products and features such as virtual prepaid cards. In September 2021, UAE-based Spotti, which was acquired by global BNPL platform Zip in May 2021, announced that the firm had entered into a strategic alliance with the Abu Dhabi Islamic Bank. Under the collaboration with the Abu Dhabi Islamic Bank, Spotti launched the first virtual BNPL prepaid card in the UAE. The card will allow consumers to make both online as well as in-store purchases with merchants in the country. Spotti users can use their mobile app to load money on their virtual BNPL prepaid card to fund cost-free installment payments. The publisher expects more BNPL firms to innovate with their product and features offerings over the next four to eight quarters, which will further promote competition and innovation in the UAE BNPL market from the short to medium-term perspective. BNPL companies are raising funds to boost their growth trajectory in the UAE To further innovate and support their growth trajectory, UAE-based firms offering BNPL services are raising funding rounds in the country. In November 2021, Telr, a leading payment gateway, and BNPL service provider, announced that the firm had raised US$15 million from India-based payments and banking solutions provider, Cashfree. The firm is planning to use the funding round to further boost its growth in the region from the short to medium-term perspective. At the same time, the investment will allow Cashfree to expand its operation in the MENA region. The publisher expects more such BNPL providers to raise funds over the next four to eight quarters to capitalize on the high growth potential of the UAE market. Scope Gross Merchandise Value Trend Analysis Average Value Per Transaction Trend Analysis Transaction Volume Trend Analysis

Aramex SMART Web Traffic

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Aramex SMART Frequently Asked Questions (FAQ)

  • When was Aramex SMART founded?

    Aramex SMART was founded in 1982.

  • Where is Aramex SMART's headquarters?

    Aramex SMART's headquarters is located at Warehouse and Building No. 3, Dubai.

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