Foloosi, a UAE payment app, witnessed over AED 10 million worth of transactions in its first year in operation and Founder, Omar Bin Brek is eager to see that number multiply by ten in the up and coming years
Foloosi (https://www.foloosi.com ) is a UAE Fintech startup facilitating consumer-to-business card payments by enabling the business to display QR code, Payment Link and API integrations for the customer to scan & pay conveniently.
Founded in 2018 and launched its product in the year 2019, the business has grown, with 25,000 businesses transacting millions of dirhams every month through the app – the number of payment transactions made via the app is increasing at a rate of around 40 percent a month.
Omar expressed: “On the very first month we did AED20, 000 (worth of transactions), and throughout the year we had AED 10million worth transactions”
Foloosi is the only startup in UAE providing many billing solutions facilities and few of them are du topup and bills, Etisalat topup & bill, FEWA, Mawaqif topup, Mawaqif fine, National bond, NOL card, Ajman direct etc.
We also provide in-app store for the merchants where they can list their products and get paid from their customers via Foloosi.
So as to arrive at that goal-oriented objective, Omar has point by point similarly positive development plans for the organization, which is as of now open for traders in the niches and corners of UAE
Foloosi doesn’t charge month to month expenses and it is entirely free to sign up to the app. Expenses are charged at 3.5 percent for every transaction processed.
The company, Foloosi Technologies was ranked as one of the top 20 Fintech startups by Forbes Magazine, UAE and has raised a seed fund of 500k USD
“We have a huge market opportunity in Saudi Arabia and we are planning to expand our business”, says Mohan, CTO of Foloosi
Mohan, CTO of Foloosi also says, “We are planning to launch more products, subscription so that merchants can accept payments through many forms. Also soon we are going to launch POS software with card acceptance for retail businesses”
Know More: https://www.foloosi.com/qr-code-payment-uae
Site Title 