Islamic Digital businesses are making payments a competitive differentiator.
- PayHalal to lead how Islamic platforms will use Shariah Compliant payments to transform global Islamic Digital Economies.
61% of Islamic platforms intend to expand their shariah compliant payments processor in the next 3 years.
- A decade into the new era of Islamic digital platforms, it’s clear that shariah compliant payments have become fundamental to their growth.
Introduction to PayHalal Shariah Compliant internet payment gateway.
- This guide explains the basics of shariah compliant internet payments and the differences between common payment gateway models , the dangers of riba and gharar , and how it can cause your Islamic platforms and marketplaces to become haram. PayHalal covers payments according to the fundamentals Islamic , details what all Muslim owned businesses need to know about shariah compliant internet payments, and offers specific guidance depending on your business model.
Improve conversions and reach more Muslim customers.
- Muslim Customers expect to engage in an Islamic way across channels and how they make a purchase needs to be consistent their religious requirements . (Take online retail for example, Muslim customers may expect it to be free of RIBA (usury) and gharar (ambiguity or speculation) and goods , services sold must be halal this applies to both online and in-person purchases.) PayHalal being the world’s 1st Shariah Compliant payment is better positioned to provide Muslims added surety when buying and paying online payments .This funnel can increase conversions, and adding the PayHalal payment methods can expand your pool of potential Muslim customers.
87% of Muslim customers abandon a purchase if the checkout process is not compliant to Shariah/ Halal, too complicated —and most Muslim customers do not want to pay with conventional credit cards and through conventional payment gateway . In fact, Muslim customer preferences are indoctrinated deeply in the Quran ( Muslim Holy book)and halal compliance.
PayHalal will share best practices to increase conversion and explain the types of Islamic payment methods your Muslim customers want and expect. Learn more about :
- Designing the best Shariah Compliant checkout
- Managing Shariah non compliant risk online
- Improving network acceptance
- Islamic payment methods digital wallets and bank debits and online transfers like ACH; “Islamic buy now, pay later”
- Islamic industry terms and their definitions
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