UAE E-Commerce Giants Discuss the Future Of Online Payment

08 October 2013
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Dubai, UAE, 8 October 2013: According to statistics, The Middle East has seen the explosive growth of e-commerce in the past few years. ‘The Future of E-Commerce’, a panel discussion hosted by Dubai Internet City (DIC), reviewed the e-commerce landscape and addressed the opportunities and challenges of the e-commerce industry; an industry that is predicted to reach $15 billion by 2015.

The event, moderated by CEO of JadoPado, Omar Kassim, featured expert panellists from the UAE’s leading E-Commerce entities including; Francis Barel, Business Development Manager, PayPal MENA; Gups Jutla, Head of Business Development, CyberSource; Hisham Hammoud, Chief Operations Officer, Network International; Omar Soudodi, Managing Director, PayFort; and Samer Choucair, Chief Operations Officer, Groupon.

Amongst the many challenges and opportunities facing the e-Commerce industry across the region, panellists discussed the merits of their respective payment gateways, the ongoing threat posed by cybercrime, and credit card penetration and its impact on E-Commerce. Issues including digital platform optimisation and local currency transactions were also explored.

Speaking at the event, Majed Al Suwaidi, Managing Director of Dubai Internet City and Dubai Outsource Zone said: “There is a real buzz around e-Commerce and its growth potential across the Middle East. As we have heard from our panellists today, there are significant opportunities for E-Commerce in the UAE which is creating enormous change in the way people buy products and services.

“The UAE government is leading the way through the introduction of initiatives to facilitate the growth of the industry, and recently introduced the e–Pay gateway to shape an effective E-Commerce environment. The initiative has served to ensure safe financial transactions and encourage further internet usage.” he added.

Dubai Internet City continues to position itself at the forefront of the industry and embrace new developments in the sector. in5, the innovation hub launched by DIC earlier this year, is home to a number of start-ups looking to forge their way into the region’s E-Commerce marketplace. in5 aims to foster and promote entrepreneurship and innovation in order to further develop the technology start-up ecosystem in Dubai and the region, and provides infrastructure, support and a dynamic and engaging working environment to entrepreneurs from the early stages of idea creation through to the commercial launch of a product or service.