The world has adopted digital services very fast. More people are moving to digital marketplaces. It is especially in the Middle East and North Africa (MENA) region. $1 trillion is the cross-border trade value. It lies between the Middle East and the remaining world.
But not even 1% of trade is taking place online. So, this can become a massive opportunity for digitizing trade processes in markets. Within the coming 5 years, this 1% will become about 5%. In short, there will be about $50 billion in trade worth converting to the digital arena. Trading will drive digital adoption without reinventing other things.
The digital marketplaces grew at a massive scale in the global pandemic in April 2020. It has met the needs of the local business purchasers in the Middle East and North Africa. Also, there has been a limit on accessing wholesale sellers across the world.
This MENA region is more of an export and import market. So, access to the global supply is very crucial. Besides, we can see that there is a powerful appetite for businesses to become digital.
Demand is very specific in the MENA. But the business purchasers are from the UAE and GCC, including Bahrain, Oman, and Saudi Arabia.
For accessing trade finance, streamlining is important for the business purchasing processes. Also, the digitized payment option is another way Tradeling is looking forward to. The goal is to set up MENA purchasers for success in the digital marketplaces.
Tradeling has launched its 1st collaboration with Amazon payment Services. The goal is to widen the payment options available to consumers. This, in turn, will strengthen the credit offering of Tradeling.
Customers now can buy by making use of their credit cards. They can pay back in 3-36 month installments. In addition, it will allow zero or low interest rates.
The B2B firm will connect the global sellers with the local demand. It will also offer bank transfer payments. COD will be available for smaller businesses and shops. The B2B space is rational and helps the buyers to make better purchasing decisions.