UAE: New app seeks to facilitate installment payments for small businesses

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Urban Ledger, a digital fintech, seeks to provide businesses a seamless solution to simplify collections as well as monetizing their loyal base, leading to genuine growth in business.

This announcement was made at the Seamless Middle East 2024 in collaboration with the brand’s holding group Vernost.

In today’s rapidly evolving marketplace, digitalization is a key driver for local businesses seeking to future-proof their operations. Urban Ledger seeks to alleviate traditional sales constraints such as the need for multiple physical point-of-sale terminals and limited installment options. By introducing a versatile solution, Urban Ledger enables businesses to transcend these barriers, offering the flexibility to manage transactions seamlessly from any location using mobile devices or laptops.

Central to Urban Ledger’s offering is an advanced digital ledger system, which is expertly integrated with robust payment mechanisms and innovative embedded finance feature in the form of installment plans of up to 12 months, supported by numerous regional banks. This comprehensive tool not only simplifies payment and supplier transaction management but also provides valuable insights into customer behavior, all accessible from the palm of a hand. Through these solutions, Urban Ledger is reshaping how businesses interact with their customers, offering scalable, efficient, and accessible financial tools.

Key features also include continuous 24/7 data backup, downloadable reports, and insights, enabling customers to monitor metrics such as new customer additions and average collections pending per customer. Additionally, the platform offers quick generation of e-invoices, the addition of QR codes to invoices for streamlined payment collection, meticulous tracking of all customer interactions from purchase transactions to payment collection requests.

Speaking of the launch, Girish Advani, Co-Founder of Urban Ledger, said, “Urban Ledger is a gift from UAE to the rest of the World. Amidst the demands of nurturing loyal clientele, we recognize the need to empower entrepreneurs to amplify their Growth. Drawing upon over two decades of experience in the banking sector, we have pioneered solutions that enable end card customers to access payment plans through our payment gateway seamlessly. We plan to offer the same by adding many more features in the future.”

Devanshu Verma, Co-Founder of Urban Ledger, said “Urban Ledger goes way beyond just Payments. It’s a one stop solution for Businesses to grow their bottom line. Many businesses have very good understanding of who their customers are but are not able to track them on the go specially across multiple businesses. This becomes especially useful when there is credit facility being offered by the merchant or deliveries need to happen and money has to be collected by multiple customer touchpoints and not just by the Finance Department”

Initially rolling out operations in the UAE, the platform plans to expand globally in the coming quarters, aiming to simplify financial management, enhance efficiency, and drive growth. Special packages tailored for Women Entrepreneurs and UAE Nationals have been introduced.

Urban Ledger is PCI DSS Level 1 Compliant product registered under Verve Payment Services Provider CO. LLC. UAE at Dubai Economic Department.