Dubai, UAE – Hubpay, a leading cross-border payments company, today announced the launch of its innovative self-serve platform specifically designed for Small and Medium Enterprises (SMEs) in the United Arab Emirates. This user-friendly solution addresses the growing demand for streamlined international payment processing, empowering local businesses to seamlessly expand their global reach.

A Flourishing SME Ecosystem:

The UAE boasts a dynamic and ever-expanding SME landscape. As of mid-2022, the country was home to more than 558,000 SMEs, contributing a significant 63.5% to the non-oil GDP. With ambitious government initiatives targeting 1 million SMEs by 2030, the future of the UAE's entrepreneurial sector is undeniably bright.

Fueling International Growth:

A substantial portion of these SMEs actively engage in international trade. Studies indicate that a significant percentage, estimated to be around 51%, conduct cross-border transactions. This translates to a substantial volume of international payments processed by UAE SMEs. However, the increasing emphasis on international trade suggests this volume continues to grow at a rapid pace.

Hubpay Simplifies Cross-Border Payments:

Hubpay's self-serve platform caters to this rising need for efficient and cost-effective international payments. The platform offers SMEs a suite of user-friendly features, including: competitive exchange rates, fast and secure transactions, real-time tracking and transparency and an intuitive interface for self-service management.

Empowering the Future of Trade:

"We are thrilled to launch our self-serve platform in the UAE," says Kevin Kilty CEO & Founder of Hubpay. "By providing SMEs with a user-friendly and cost-effective solution for cross-border payments, we aim to empower them to connect with global markets and fuel their international growth."

Hubpay's self-serve platform is a significant step forward for UAE's SMEs, paving the way for seamless international trade and fostering a more connected global business environment.

About Hubpay

Hubpay is the leading FX platform in the UAE, offering businesses a secure and efficient way to manage their international payments. With a focus on innovation and customer service, Hubpay provides a wide range of FX solutions, including currency exchange, international money transfers, and now, precious metals trading.