Deal, Mastercard team secure financing

A B2B e-commerce trading company focused on the MENA region has announced a partnership with Mastercard.

As part of the partnership, trade business-to-business (B2B) customers in the United Arab Emirates (UAE) will be able to enjoy a 5% discount on all purchases using a Mastercard SME or corporate debit, credit or prepaid card, the company said in stated in a press release.

The press release added that the partnership will also enable small and medium-sized businesses (SMBs) to access trade finance by leveraging the two companies’ platforms to “overcome barriers commonly faced by B2B buyers and sellers.”

Commenting on the news, Marius Ciavola, CEO of Tradeling, said: “Our new partnership with Mastercard ensures the continuation of the trajectory of e-commerce in the region.”

“We are delighted to be partnering with Tradeling as we work to strengthen the UAE’s vibrant [SMB] department. …the more digital doors we open for small businesses, the more we can secure the future of the industry,” added Gina Petersen, Vice President and Head of Country Business Development, UAE and Oman, Mastercard.

As Ciavola said in an interview with PYMNTS last year, Tradeling is “particularly focused” on the SMB market, which he says is underserved and does not have access to the same trade finance and cross-border payment solutions as larger companies.

“We are very sensitive to the needs of those [SMB] customers,” he stressed, adding that they make up about 66 percent of the company’s customer base.

Tradeling is focused on helping MENA buyers succeed by simplifying the business buying process and providing trade finance and digital payment solutions, he said.

For example, the company has partnered with Amazon Payment Services (APS) to increase the payment and credit options available to its customers.

Explaining the arrangement, Ciavola said: “Through Amazon Pay, customers can now use their credit card to make purchases and pay back in three to 36 monthly installments, sometimes at zero or low interest rates.”

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