Avenues World FZ LLC, the UAE subsidiary of India-listed fintech company Infibeam Avenues, has launched a mobile QR code payment solution in the UAE.

The company, which operates a payment gateway brand called CCAvenue.ae (UAE domain), plans to tap into the growing offline payment scene in the Emirates with its product.

This is the company's first such offline payment solution on the international market.

“For the first time, we are foraying into the offline payment space in the UAE market with our innovative QR-Code payment offerings for merchants,” said Arun Jeevaraj, vice president, Business & Operations, UAE & Saudi Arabia, CCAvenue.ae.

He added that the company has onboarded multiple merchants in the last few months, including Prime Association Management, a major homeowners’ association, and Jaffer Bhai’s The Biryani King of Bombay, which operates in Dubai.

CCAvenue.ae handled transactions worth 24.5 billion dirhams, with approximately 23.5 million transactions completed to date.

In August this financial year, it traded more than AED 1 billion. In the UAE market, the company services more than 5,000 properties, including Burj Khalifa, Emaar, Damac, Nakheel and Trump Golf Dubai.

The company started offering online payment solutions primarily through its payment gateway brand CCAvenue.ae. Infibeam Avenues has also strengthened its presence in key global markets such as the US, Australia and North Africa region.

Vishwas Patel, Joint CEO of Infibeam Avenues, noted that with the QR code solution in the UAE, the company plans not only to enter the offline payment market there, but also to provide a multi-channel payment solution to businesses in large markets.