The Visa, Checkout.com, and Stake partnership in GCC leverages the Visa Direct cross-border Account Funding Solution, enabling consumers to seamlessly and swiftly upload funds to their Stake accounts to invest in prime rental properties in the UAE.
This innovative solution simplifies international digital transactions, ensuring seamless and convenient investments from anywhere in the world and 24/7 coverage, 365 days a year. Furthermore, it creates a new digital investment opportunity for both regional and international investors, facilitating their entry into the UAE real estate market and promoting the democratisation of real estate investment.
Visa Direct serves as a vast money movement network with a reach of 190+ markets combining cards, accounts, and wallet end points. The solution allows for fast and secure payments to travel across the world. The unique partnership between Visa, Checkout.com, and Stake augments the real estate landscape by driving innovation and accelerating new payment solutions.
The UAE real estate market
Amidst the UAE’s expanding economy, the real estate market is experiencing significant growth. According to data from ValuStrat, the third quarter of 2023 witnessed one of the highest quarterly capital gains in a decade, with prime property valuations growing by 16.5% YoY. Notably, villa valuations surpassed the peaks observed in 2014 by 2.6%, reflecting a substantial 19.8% YoY and 7.6% quarter-on-quarter increase in villa prices.
Officials from Visa said they’re committed to enabling individuals and businesses to move money domestically and globally. This partnership with Checkout.com and Stake marks the inaugural implementation in the region of their cross-border account funding for real estate transactions. With this innovative digital payment capability, investments in the UAE’s thriving real estate sector from anywhere in the world will now be easier, quicker, and more secure.
Also commenting on this collaboration, Checkout.com’s representatives stated that upon the announcement of Visa’s new product launch, they promptly adopted it, aligning with their commitment to ensuring their merchants continually enhance acceptance rates while minimising costs and maximising performance. He further expressed enthusiasm about extending this innovative cross-border solution to Stake, confident that it will empower them to streamline payments efficiently and cost-effectively with enhanced performance.
Executives from Stake added that their company is passionate about making real estate investing easy and accessible to everyone, no matter where they are. Through the new partnership with Visa and Checkout.com, they have not only strengthened the global connectivity and reach, they have also brought innovation to the MENA region, allowing more people to seamlessly connect and invest in their part of the world. This is a step towards fulfilling their vision of making real estate truly borderless.
