Through prepaid cards made by local and Arab banks
Saudi British agreement to promote e-commerce
King Abdul Aziz City for science and technology, announced about signing a Saudi British partnership agreement to promote electronic commerce in Saudi Arabia and the Middle East via prepaid cards, with several Saudi and Gulf banks. The agreement was signed at the headquarters of the city today, between 'Aomlaty', a project incubated in the program 'Bader' technology incubation in the King Abdul Aziz City for science and technology; and 'Aksaris systems' by British electronic payment. The agreement was signed by Khalid alhulun, CEO of 'Aomlaty', Dr. Alexander Mifsud, CEO 'Aksaris systems'.
The signing was attended by Dr. Al-suwaiyel, President of King Abdul Aziz City for science and technology, Lord Greene, Minister of State for trade and investment, and Lord Dayton, Undersecretary of the Ministry of finance to business affairs.
On reply to '' economic '', Dr. Alexander Mifsud said in the press conference held after the signing: a hack for prepaid cards in this company is near a breakthrough for credit cards, and only half a per cent compared to 2 per cent in the cards 'visa' and 'MasterCard' and other. Intrusion operations evolve with security developments that use cards, said: '' the top card safer than credit cards offered by banks ', stressing the company's determination to focus on the Saudi market to enjoy the majority of the population of young people.
Alexander pointed to the rise of electronic payments to 60 billion dollars, and the second globally after the United States, underscoring the extent of the cash flow. The e-commerce requires two mechanisms, the first client and payment, and the other on the merchant to help him to get his funds after the sale. Khalid alhulun said to, 'economic', the company cards are no different from all the protections on the cards in the market, and that the new service will enable banks to build a new era in online payments, and provide unique solutions to customers wishing to purchase online or convert their money abroad.