eCompany announces 138 percent growth in ePayment transactions

The increase can be attributed to a 41 % growth in credit card based payment services and the recently launched eZeePay service, which is a real-time bill query and payment service

The eComPay service of eCompany is a Secure ePayment Service for online credit card payments. It provides secure, simple, reliable payment processing at an affordable cost to discerning eBusiness merchants. The fundamental concern for banks, card associations, merchants and consumers is the transactional security over the Internet. eCompany has addressed this issue with a service offering designed to ensure a high degree of security and trust. eComPay is compliant with Verified by Visa and MasterCard SecureCode through the implementation of 3D Secure protocol.

eComPay enables ecommerce merchants to initiate the authorization and settlement of online transactions,.. This is done through eCompany's private network connected to Visa/MasterCard Acquiring Banks in United Arab Emirates. eComPay also supports American Express transactions through a direct link with AMEX. National Bank of Abu Dhabi,National Bank of Dubai and Emirates Bank International are the acquiring Banks which are connected to eComPay Service. The ePayment solutions provided complement the existing eHosting packages offered by eCompany thus offering merchants the possibility of bundling the same along with the eHosting services.

eZeePay currently helps Service Providers to provide real-time bill presentment and payment facility to participating Bank's Account Holders using their normal banking channels such as the IVR(Interactive Voice Response), ATM, Tellers, SMS or the Websites. eZeePay is a real-time bill payment solution for all consumers, making use of their existing banking channels to view, pay and settle their bills. Commercial Bank of Dubai, Dubai Islamic Bank, Mashreq Bank ,Citibank, Habib Bank AG Zurich and EMPOST are current partners of eCompany for this service.

The success of the eZeePay service can be directly attributed to the disadvantages of the current bill presentment and payment scenario. Large number of consumers currently pay through Banks, offline, with no facility to query the current bill amount due. Consumers also do not have a single window for most common recurring payments, such as DEWA, Etisalat, School-Fees, Cable TV Channels, etc.

The eZeePay service provides immediate credit to Subscribers' billing Accounts with the benefits of a real-time facility to query the amounts or due dates. The advantage of eZeePay lies in the fact that even non banking channels can be added offering the same services through Cash/Credit payments. Service Providers have responded to the benefits from reduced cost of cash management, increased payments receipts and higher Customer Satisfaction. The consumer on the other hand benefits from a single platform to perform all financial transactions, ease & availability of Service thereby saving trips to various utility providers or billers.

According to Ahmad Abdulkarim Julfar, GM, eCompany, " eCompany has been at the forefront in driving the benefits of ePayments in the Middle East through our diverse solutions. The strong growth in ePayment transactions reflects the growing need for viable and secure ePayment technologies in the region. Our solutions reassure consumers about the security and safety of credit card transactions which is a critical factor in ePayments in addition to providing a versatile and convenient real-time bill payment solution for consumers."