Visa signs eCommerce Working Group MoU with Government of Dubai and Elite Companies

The UAE eCommerce Working Group, mandated to establish the eCommerce structure in the country, aims to propose solutions and policy recommendations to create a more conducive environment to help existing UAE-based business become eCommerce capable.

This unique initiative brings together the Executive Office of the Government of Dubai, Visa, global companies based in Dubai such as Google, IBM, Facebook, among others as well as local and regional companies such as Aramex to empower the eCommerce framework.

The MoU was signed during the third annual Global Entrepreneurship Summit (GES) - the world confluence for Innovation, Entrepreneurship and SMEs currently under way at the Dubai World Trade Centre.

The memorandum was signed in the presence of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, HE Sultan bin Sulayem, representing the Executive Office of the Government of Dubai, Mr. Sami Al Qamzi representing the Department of Economic Development, and Mr. Kamran Siddiqi, General Manager - MENA at Visa. The MoU is valid for 12 months from the date of signing.

Commenting on the new initiative, Mr. Kamran Siddiqi, said, "eCommerce is a rapidly growing opportunity and a crucial driver for economies and business growth across the region. Visa has been a pioneer in eCommerce and has always strived to make it safe, reliable and convenient. We are delighted to be part of the new UAE eCommerce Working Group and hope to use our many years of experience to help enhance and improve eCommerce opportunities and transaction levels within the UAE."

"We are already working closely with our partners to develop solutions that will reshape the consumer buying experience online through innovations like Verified by Visa that extend trust and convenience across the entire online shopping process. As a major step to combat eCommerce fraud, we recently announced the Visa Consumer Authentication Service to help issuers reduce the risk of eCommerce fraud using real-time, risk-based transaction analysis," he added.

"We are confident that the adoption of eCommerce policy guidelines through the UAE Working Group will benefit not only our partners in the initiative but all businesses across the country," he concluded.

In the first phase, the eCommerce Working Group will work closely with the Government of Dubai to identify the key barriers to the growth of eCommerce in Dubai and the UAE. The Working Group will also launch a number of taskforces that will recommend how to shape the future roadmap on eCommerce across the country.

In the second phase, the UAE eCommerce Working Group will work closely with all involved parties to launch a number of strategic initiatives in close cooperation with the Government of Dubai. This will include training courses on eCommerce start-ups, awareness campaigns, workshops and rewarding the best performing eCommerce company in the country.

The two-day Global Entrepreneur Summit is a first-of-its-kind meeting being held in the region involving global and regional thought leaders. Organized by the Entrepreneurial Ventures of Arabia, the summit offers key stakeholders clear insights into the regional new business climate, in a constructive and peer-to-peer setting, whilst providing entrepreneurs and SMEs access to investors seeking to explore new business alliances in the region.