PayHalal has introduced the Wakalah Bai al Ujrah account to aid small businesses that face challenges in obtaining ePayment gateways due to being unbanked or not meeting conventional gateway criteria. This tailored solution enables unbanked entrepreneurs to access e-commerce and cashless payment systems while ensuring transactions adhere to Shariah principles. PayHalal’s commitment to creating a secure and Shariah-compliant payment environment provides small businesses with the means to expand their customer base and drive sales.
7 August 2023 – PayHalal, a pioneering fintech company, has launched the Wakalah Bai al Ujrah account, a dedicated offering aimed at providing a solution to small businesses that encounter hurdles in acquiring ePayment gateways. These businesses often find themselves unbanked or unable to meet the strict requirements stipulated by traditional payment gateways.
The Wakalah Bai al Ujrah account extends underwriting services to small business proprietors, establishing them as reputable and trustworthy merchants. This, in turn, enables these enterprises to access a diverse range of e-commerce and cashless payment facilities, spanning credit cards, e-wallets, Buy Now Pay Later (BNPL) services, and online banking.
A notable attribute of PayHalal lies in its steadfast commitment to creating a secure and Shariah-compliant payment ecosystem. The company meticulously ensures that all transactions conducted through its platform adhere to the principles of Islamic finance. This dedication appeals to a broader spectrum of customers, particularly those who prioritize Shariah compliance in their financial dealings.
The introduction of PayHalal’s tailored solution emerges as a vital step towards empowering small businesses in the realm of electronic payments. With this offering, unbanked entrepreneurs can extend convenient and secure payment options to their customers, contributing to increased sales and heightened customer satisfaction.
As the digital landscape continues to evolve, solutions like PayHalal’s Wakalah Bai al Ujrah account stand poised to bridge the gap for small businesses, fostering growth and inclusivity in the ePayment domain. – source: Malay Mail
