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PAYFORT to allow merchants to accept mobile point of sale (MPOS) card payments for goods and services; SOUQ.com to offer card-on-delivery service in UAE
Dubai, UAE – PAYFORT, the leading online payment service provider in the Arab world, today announced a new card-on-delivery service to allow merchants to offer card-on-delivery payments for their purchases. The new card-on-delivery service will first be piloted with SOUQ.com, the largest online retail and marketplace platform in the Middle East, in the United Arab Emirates before being rolled out to other countries across the region. PayFort will make the card-on-delivery service available to other merchants across the region at a later date.
“We are pleased to be able to continue innovating and delivering new services to the Arab world, allowing merchants across the region to make more and more payment options available to their customers,” said Omar Soudodi, Managing Director of PAYFORT. “Piloting our latest new service via SOUQ.com, we’re proud to provide online shoppers with the facility to pay on delivery using a credit or debit card.”
"We’re excited about the introduction of the new card-on-delivery payment service and I know that our customers will be too," said SOUQ.com CEO and Co-Founder Ronaldo Mouchawar. "Card-on-delivery means that payment-on-delivery customers will now have a choice of paying by cash or by card. Our delivery agents will be able to process all major credit and debit cards using a mobile card machine.”
According to State of Payments 2016, about 50 percent of consumers in the Arab world prefer to pay in cash and cash-on-delivery (COD) customers remain a significant segment of the Middle East’s ecommerce market. However, the percentage of card purchases is growing and many experienced online shoppers now prefer to use credit cards. PayFort and SOUQ.com believe that the new card-on-delivery service is another initiative that will help build trust in ecommerce and card payments amongst today’s COD customers.
The volume of online payments made in the Arab world could reach more than US$69 billion of transactions per annum by the year 2020. According to State of Payments, the region is seeing increased growth in consumer acceptance to pay online. Saudi Arabia and the UAE lead the region in online payments.
PayFort has made online payments safe and secure for buyers and sellers across the Arab world, delivering a complete suite of payment solutions that are tailored to Arab online buying habits and trends.
PayFort is the payment platform for the leading e-commerce websites across the Arab world — beIN SPORTS, Souq.com, Landmark, Jumbo Electronics, talabat.com, flynas, Air Arabia, Flyin, Musafir, Bayt, DrBridge, goejaza KidZania live, GTA Travel, Ousta, Hedeya Store, Gezira Travel, Triptanza, NOOR ADSL, SmartMart, Ariika and Eventtus.
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About PAYFORT
PayFort is the most trusted Online Payment Gateway in the Middle East working with Businesses, Governments, and Startups to maximize online payment acceptance.
PAYFORT is regional expert in payment processing technology and solutions across major markets in the GCC & LEVANT COUNTRIES.
OUR MISSION – To build a robust payment eco-system that translates into better conversions and enable ecommerce eco-system in the MENA region.
Honored on how our dedication to being the leading online payment gateway in the Middle East has been recognized by various partners and awarding bodies.
Just very recently, industry-renowned Pay Expo MENA awards granted us the Digital Commerce Innovation Award for establishing a successful online payment solution across the region.
We also received Fintech of the Year award last month at The Entrepreneur MENA magazine’s annual Enterprise Agility Awards, acknowledging our efforts in breaking down barriers to introduce the convenience in adopting secure online payment methods.
In addition to that Doha Bank, one of the largest commercial banks in Qatar, gave us this year’s Partners Award, as our partnership agreement helped the Qatari market to open its arms to e-commerce. To cap off 2016 for our company, crowd-sourcing company Owler presented us this year’s Hot in Dubai award for being a top trending company in the city.
Website: www.payfort.com
Contact: social@payfort.com
© Press Release 2017
