SekurPay payment protection solutions available in Saudi Arabia

In a move that helps to address one of the biggest problems facing all auto dealers and finance companies, Dubai- based Sekurus International LLC, announced today that it's renowned SekurPay™ solutions are now available to financial institutions throughout Saudi Arabia.

Through its KSA partner Sequr ME which is offering the Sekurpay™ total solutions; a patented system that ensures timely collection of customer payments that is available with or without GPS technology.

"Together with our partner Sekurus International, we are providing a market-leading Payment Protection and fleet management solution that is supported by a team of professionals dedicated to ensuring our solutions meet the exacting needs of our customer base" commented Sequr ME Director Sinan Al Saady.

The Sekurpay™ solution is used globally by lending institutions that provide flexible automobile financing to individuals who have no credit history or sub-prime and/or are high credit risks. Installed within the vehicle Sekurpay™ is an electronic unit that that is available with or without telematics technology that tracks payments and prevents a vehicle from starting if a customer's scheduled payment is not made on time.

"We are in the process of expanding our international distribution network as more and more financial institutions around the globe realize the bottom- line benefits of the Sekurpay™solution as a credit enhancement tool," said Basel Al Salah, CEO of Sekurus International and suppliers of the Sekurpay™ solutions.

"This latest development combines GPS technology into the existing SekurPay™ solution and represents an exciting new opportunity for us, and we look forward to providing our system to organizations throughout Saudi Arabia and the Middle East where we have based our solution development and international distribution head quarters out of Dubai."

The devices being used by car dealerships throughout world wide assure payments on more than $2.6 billion of auto loans. As a result, financial institutes and auto dealers have reported significant decreases in late payments and repossessions. In many instances, delinquency and repossession rates have dramatically dropped to levels lower than three percent, as compared to previous American industry averages that range between 20-30 percent.