Visa Commercial Forum makes Middle Eastern debut

At the Forum, being held in the Middle East for the first time, Visa and other experts will present ideas, experiences and opportunities in the commercial card segment.

Keynote speakers addressing the Forum will include experts in commercial card issuance and will provide case studies for delegates on how to become the commercial card issuer of choice, increase card volume and share, deliver flexible needs-based payment solutions and strengthen both small business and large corporate customer base.

Visa CEMEA's Head of Commercial Products Andrew Doukanaris, said:

"This year's Visa Commercial Forum will see representatives of 75 banks from 29 countries in attendance, a reflection of the increasing significance of the Commercial segment in the electronic payment sector. 2008 has seen over 50 new Commercial programmes launched across the CEMEA geographic area and Visa continues to invest in innovative product development to support business in this marketplace."

Speakers at this year's Forum will include Doukanaris and Darren Parslow, Visa's Head of Global Commercial Solutions along with some of Visa's key partners including Paul Daly, Director of Exchequer Services, Metropolitan Police Service (UK), Scott Weinflash of independent consultancy Interactive Reasoning, Paul Johnson, Senior New Business Manager, Barclaycard Business and Carol Koh, Regional Head of Commercial Cards, United Overseas Bank.

According to Visa's Commercial Consumption Expenditure Index released in July 2008, annual global commercial spending grew to an estimated $77.3 trillion in 2007, an increase of 12.2% over 2006.

The index revealed that Central/Eastern Europe, Middle East and Africa (CEMEA) experienced estimated growth in commercial spending of 20.5% for 2007 or an estimated $5.1 trillion, making CEMEA the fastest growing region in the world for overall commercial spending.

The CCE index is a financial metric that provides standardized tracking of business and government spending globally and is recognized as an industry benchmark for measuring commercial spending.

"The choice of Dubai as host of this year's forum is a reflection of Visa's commitment to the area and the belief that as an emerging marketplace, the Middle East and CEMEA as a whole has untapped potential. At a time when CEMEA's economy continues to diversify, the growth of its Commercial sector represents a significant opportunity for Visa and its partner banks to deliver innovative tailor-made products that support the business community whether large corporations or small businesses," added Doukanaris.