Tradeling Joins Forces with Mastercard to Help Spur the UAE’s Economic GrowthJanuary 16, 2023 | Dubai, UAE
Dubai, UAE – 16 January 2022: Tradeling, the Middle East and North Africa’s dominant e-marketplace that focuses on business-to-business (B2B) transactions, has announced a collaboration with Mastercard, a global pioneer in payment innovation and technology that connects billions of consumers, issuers, merchants, governments, and businesses. The new collaboration will offer several benefits to Small and Medium Enterprises (SMEs) in the United Arab Emirates (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 5% 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.”
Tradeling is continually striving to satisfy clients by expanding its offering. This mindset has allowed the dominant MENA e-marketplace to be the primary search and sourcing tool for business buyers across the region for more than two years. The collaboration with Mastercard marks a significant milestone. Upon the success of this initiative, both parties will look to grow their collaboration to encompass additional regions across the world.
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.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
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