How Ramadan Season is elevating MENA’s payments game

The blessed month of Ramadan is just around the corner and the Middle East is ready to step into another festive season of praying, fasting, and engaging in charitable acts. Ramadan is also when people shop more, be it clothes, home décor items, groceries, or gift hampers. Hence, as a merchant, you must make your customer’s experience seamless to earn their trust, build brand value, and attract repeat business. And since checkout is a crucial part of the shopping journey, you need the smartest payment solutions during Ramadan to make transactions safe, efficient, and fast. Luckily, PayTabs can help.

By integrating PayTabs with your e-store or mobile application, you can offer customers ample choice and flexibility in payment. They can pick from multiple methods and currencies, meaning you can sell across the Middle East and anywhere else. PayTabs’ payment orchestration services can also handle large transaction volumes and improve the payment acceptance rate, which means greater customer satisfaction. Now, let’s explore the challenges merchants face during Ramadan and how payment gateway providers make life easy.

Common Retail Challenges

While consumer demand spikes during the holy month, retailers grapple with:

• Overwhelming traffic – Both offline and online stores deal with excess traffic, which poses a high risk of cart abandonment whether shoppers have to stand in long queues or your website is unable to handle large transaction volumes. In either case, customers might get frustrated and decide against checkout.
• Limited options for payment – Long gone are those days when cash payment was the norm. Today, unless you provide ample options, in the form of cards, digital wallets, internet banking, and such, you might lose a lot of business.
• Delayed fund credit – Since banks often operate for limited hours during Ramadan or stay closed on certain days, accepting payments the traditional way (like checks or demand drafts) might mean that funds will take time to get credited in your account.
• Inefficient invoicing – Not sharing correct invoices or not sending them on time might lead to customer dissatisfaction, delayed payments, and poor cash flow.

So, how can payment gateways transform the Ramadan experience for merchants in different sectors?

Booking

Many people visit families or plan holidays during the holy month. Hence, companies offering flight and hotel bookings or travel packages need to accept payments without hassle. A payment gateway provider like PayTabs can make transactions smooth, whether you have people from the Middle East travelling abroad or foreign nationals visiting the Middle East for a unique experience. Even if your website sells tickets to movies, theaters, or sports events, you will find the demand surging as more people want to relax in the evening after hours of fasting. With the right gateway, you can handle this increased demand, route payments to suitable processors, and improve sales.

Retail

Retail shopping witnesses a sharp uptick during Ramadan. Whether you sell apparel, accessories, cosmetics, or appliances, you need a payment solution that can cater to customers any time of the day. Integrating PayTabs with your app or website can do the trick as shoppers can make purchases even late at night or during early morning hours. Being able to make digital payments securely and easily also means they can stay home and focus on praying, fasting, and spending time with loved ones. In case of luxury goods, shoppers can even opt for instalment payment.

Food

Whether you run a restaurant, home delivery service, or grocery store, you are likely to experience increased demand during the holy month. After all, in the Middle East, Iftar and Suhoor meals are usually lavish affairs. Hence, to make sure you don’t lose a single customer, you need the best digital payment solutions during Ramadan. For instance, PayTabs can ease the checkout process in the food industry by minimizing errors even during rush hours. You can also send customers invoices with payment links so they can do the needful from their mobile devices.

Charity

Donating to the needy is an integral part of Ramadan celebrations. So, if you are in charge of an Islamic center, charitable trust, or mosque, you would want to make it easy for people to make donations even if they can’t visit you. With PayTabs, you can enable donors to make payments via any method they like and track it all as well. Since such payment gateways support multiple currencies, you can accept donations even from those who are situated in distant parts of the world.

Have a Bountiful Ramadan

As you gear up for Ramadan 2024, make life easy for yourself and customers by joining hands with a payment gateway provider like PayTabs. Simple onboarding and budget-friendly fee structures will help you get started in no time. Promote happiness and goodness by offering a glitch-free shopping experience in the Middle East and beyond.