Dubai, United Arab Emirates: – UAE residents looking to purchase Car Insurance through www.Souqalmal.com ’s online platform will now be able to remit funds for the purchases using the cash collection services of UAE Exchange. This has come into play as customers requested cash payment over credit card on the site while purchasing their insurance. This request does not come as a surprise considering the 2016 study from Effective Measure, where Cash on Delivery is still the payment method of choice for 70% of the UAE residents.
Souqalmal Founder & CEO, Ambareen Musa elaborates on the new partnership: “Currently, around 10% of our sales is done through bank transfer which is an alternative to cash payment. As we grow, more and more customers have been inquiring about the Cash payment option. Our collaboration with UAE Exchange is a big step in this direction. “
Musa adds, “The idea behind this collaboration is to offer our customers the option to pay through multiple channels, whether it is cash, bank transfer or credit card.”
The Cash Payment option, available at any of the 150 UAE Exchange branches in the UAE, will not only ensure ease of payment for the customer but will also make the process extremely transparent and secure. This facility is ideal for those who prefer to research and compare their options online but would rather make the actual payment offline. It also accounts for those who still do not prefer online payment using credit cards.
Promoth Manghat, CEO of UAE Exchange said, "Customer centricity has always been integral to our growth strategy, and our partnership with Souqalmal.com will help deliver an enhanced payment experience to the customer."
Just last month, Souqalmal.com launched an instalment payment option allowing customers to convert their car Insurance Premium into monthly instalments on their Credit Cards.
Commenting on the multiple modes of payment, Ambareen Musa said, “The purchase and payment options are both critical aspects of the user journey, and we want to tie the two together in a way that suits every type of buyer.”
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About Souqalmal.com
Souqalmal.com is the biggest personal finance comparison website in the UAE and Saudi Arabia, allowing users to compare personal finance products such as Credit Cards, loans, bank accounts and Insurance.
Souqalmal.com offers a convenient and transparent platform where UAE residents can search for, compare and buy car Insurance. With the widest selection of car Insurance providers to choose from, the site allows users to generate multiple real time Insurance quotes in under 60 seconds. To provide further support, Souqalmal also offers customers access to a call center that operates 7 days a week.
Since Souqalmal.com launched its Insurance aggregator portal in June 2016, it has become the fastest growing retail car Insurance platform in the country, offering the widest selection of coverage to UAE residents. With its instant quotes, the platform provides unprecedented levels of ease and convenience for time-crunched residents buying car Insurance. Souqalmal.com won “Best Technology Firm” at the 2017 MENA Insurance Awards, which further solidifies the role that it is currently playing in the InsurTech arena. For more information visit: http://www.souqalmal.com
About UAE Exchange
“UAE Exchange” is a leading global money transfer, foreign exchange and payment solutions brand, headquartered in Abu Dhabi, United Arab Emirates. Established in 1980, today, it is one of the widest accepted globally networked remittance brands and a pioneer in digital adoption.
Spread across in five continents from Americas to Oceania, UAE Exchange operates a strong network of over 800 direct offices in 28 countries and 200,000+ agent locations in 165 countries. The brand also offers digital services including prepaid cards, online money transfer facilities, mobile-based applications and kiosks in many major markets. Over 9000 professionals, representing 40+ nationalities, collaborate every day to ensure consistent and enriched customer experience is delivered through multiple channels, bringing delight to more than 15 million customers worldwide.
This customer-centric ethos combined with a quality-driven approach, constant innovation in products and processes, and the deployment of latest technological advancements across all retail operations and digital channels sets UAE Exchange apart from its peers.
UAE Exchange is ISO-certified and has been honoured internationally for its commitment to Quality Management, winning the European Society for Quality Research (ESQR) Quality Achievement Award and the Dubai Quality Gold Award. It is a member of prestigious associations, including the World Economic Forum and the United Nations Global Compact. The brand has been globally recognised and awarded for its corporate citizenship, customer service initiatives and business excellence. For more information about UAE Exchange, visit www.uaeexchange.com.
© Press Release 2018
