Dubai e-marketplace Tradeling that focuses on B2B transactions has announced a collaboration with Mastercard. The new collaboration will offer several benefits to Small and Medium Enterprises in the UAE and deepen access to the digital economy.
E-commerce in the UAE is projected to reach $27 billion this year, partially fueled by the exponential growth of SMEs. The collaboration between Tradeling and Mastercard reinforces both organizations’ commitment to the UAE as it empowers SMEs to further fuel the market’s economic progress and ambitions.
Customers will be able to buy on Tradeling’s platform and receive a five per cent discount on all products. This offer can be availed via payment with eligible Mastercard SME or Business debit, credit, or prepaid cards in the UAE for the first time. Additionally, SMEs will be able to access trade finance by leveraging both companies’ advanced platform designs to overcome hurdles that are commonly faced by B2B buyers and sellers.
Marius Ciavola, Chief Executive Officer at Tradeling, commented on this: “E-commerce in Mena has seen accelerated progress since 2020 with over 200 million consumers shifting to online shopping. This unprecedented growth has been achieved at a faster pace than anywhere else in the world. Our newly formed partnership with Mastercard ensures that the trajectory of e-commerce in the region continues. Globally, SMEs are widely recognized for their role in fostering the sustainable development of nations through the creation of jobs, provision of public goods and services, poverty alleviation, and reducing inequality. We are accordingly thrilled to collaborate with Mastercard to help facilitate such actions and hopeful to eventually scale beyond the region.”
Gina Petersen, VP and Country Business Development Lead for the UAE & Oman, Mastercard said: “We are delighted to partner with Tradeling as we advance our efforts to strengthen the UAE’s vibrant SME sector. SMEs have a significant impact on economies, providing a livelihood for many while advancing financial inclusion, reducing poverty, and boosting prosperity. The more digital doors we can open for small businesses, the more we can future-proof the growth of the industry.”
Mastercard has pledged $250 million and committed to connecting 50 million micro, small and medium-sized businesses globally to the digital economy by 2025 using its technology, network, expertise, and resources in support of the company’s goal of building a more sustainable and inclusive digital economy. As part of these efforts, Mastercard is focused on connecting 25 million women entrepreneurs as well.
Meanwhile, Tradeling is the UAE’s homegrown company founded in 2019, beginning as a technology start-up. It is headquartered in Dubai’s DAFZA and specialises in the e-commerce sector.
