Maktoob.com announces breakthrough in online shopping

Now available throughout the Middle East, the cashU Card has been designed to eliminate the risks associated with credit card fraud when transacting online on any website in the world. The cards are currently being sold in three denominations - US$ 10 (500 cashU), US$ 20 (1000 cashU) and US$ 30 (1500 cashU) or in local currency equivalent - and can be ordered through the cashU website (www.cashucard.com). The cards are then delivered at the buyer's doorstep in less than 24 hours.

"The Middle East, in particular, has witnessed a slow development in the online shopping business since concerns over credit card fraud continue to deter shoppers," explained Samih Toukan, CEO of Maktoob.com (www.maktoob.com). "The cashU Card system has been designed to address the needs of Internet shoppers and help the region move forward with the rest of the world in employing innovative Internet trends."

Toukan pointed to latest statistics by Yahoo!/AC Nielsen Internet Confidence Index and several independent agencies which show that a large percentage of users, both regionally and worldwide, are hesitant to use their credit cards for online transactions due to concerns over fraud. It is precisely these concerns that the cashU card successfully addresses, he added.

Usage of the cashU card opens up a world of unheard-of privileges for buyers and sellers alike. Shoppers can buy products directly from websites that accept cashU's. The required number of cashU's is then accordingly deducted from the user's card balance. For sites not using the cashU Card system, the customer should submit details of the product, which is bought by the cashU customer representative on behalf of the customer. This value-added service is free to the customer.

"The cashU Card has been launched after examining all aspects of online shopping and we are confident that it will become a global phenomenon," Toukan noted. "The membership of the cashU Cards is free, unlike credit cards where the user has to pay an annual fee. Also, the ease of use, speed and simplicity of transactions in the cashU Card system will surely appeal to the large number of Internet users who seek products from this region."

To guarantee even safer transactions, each cashU Card expires six months after the date of first usage. Working on the same principle as prepaid mobile cards, each cashU card has a unique numbering system whose details are fed when the user purchases a product or service.

At the same time, sellers have the unique advantage of using the cashU Card system to accept transactions on their own websites, besides obtaining Maktoob.com's technological support and online marketing of their products among the website's registered members, who number more than 2.5 million.

"I am confident that the business community in this region will see the advantages of being part of this exciting development and use the system to reinforce their own existing e-commerce platforms in other markets," Toukan pointed out. "The interest from our present network of sellers and merchants has been quite encouraging in this connection."