Dubai Trade adds Mashreq to its centralised e-payment gateway Rosoom

Published June 14th, 2009 - 06:27 GMT

Dubai Trade, the innovative online platform of Dubai World, has signed an agreement with Mashreq, a premier bank in the UAE, to offer the bank’s Direct Debit Services to clients using Dubai Trade’s e-payment services.

The partnership, the first of its kind to offer dual sign-in facility, enables customers of Dubai Trade’s centralized e-payment gateway ROSOOM to use Mashreqbusinessonline, Mashreq bank’s online Direct Debit Services platform, to settle their monetary transactions with global marine terminal operator DP World and Jebel Ali Free Zone, Jafza.

The agreement was signed on June 3 by Mohammed Al Muallem, Senior Vice President and Managing Director, DP World, UAE Region, in his capacity as Member of Board of Dubai Trade, and Yasmeen Javaid, Divisional Manager – Transaction Banking Services, Corporate & Investment Banking Group, Mashreq in the presence of Mahmood Al Bastaki, Director of Dubai Trade.

The online payment service enables real-time transfer of funds from the customer’s Mashreq account to the accounts of DP World and Jafza.

It is the first model of its kind that facilitates dual sign-in, enabling customers to access both services at the same time and make payments by simply using internet banking credentials.

ROSOOM offers customers multiple transaction methods to settle their bills. This secure, single-window electronic facility helps them save on time and cost.

Mohammed Al Muallem, Senior Vice President and Managing Director, DP World, UAE Region, and Member of Board of Dubai Trade, said:
“The partnership with Mashreq bank brings added value to all stakeholders. Our strategy has always been customer centric and we believe our association with Mashreq will further enhance this approach.”

Mahmood Al Bastaki, Director of Dubai Trade, said: “Dubai Trade is pleased to be associated with Mashreq on its Direct Debit Services. Our central e-payment gateway has by now become one of the most preferred online platforms for customers in their dealings with Jebel Ali Port and the Free Zone, and Dubai Customs. The agreement with Mashreq on the new dual sign-in model is another major step that brings these companies and their customers closer. At Dubai Trade, our primary aim is to serve our customers better by utilising technology, and ultimately benefiring trade in the emirate.”

Omar Bouhadiba, Head of Corporate and Investment Banking, Mashreq said: “We are proud to partner with Dubai World group, which includes some of the biggest companies in the country, to serve our customers better. Mashreq’s online payment platform ensures efficiency at the highest level. This agreement enables our customers to use Dubai Trade’s excellent e-payment services that have won wide acclaim for their user-friendliness and high technical standards.”

About Dubai Trade

Dubai Trade has developed its innovative concepts to the level of becoming a key player in Dubai’s trading sector. Since its inception in March 2008 through March 2009, Its ROSOOM platform facilitated 96,000 transactions totaling Dhs108,000,000. Constant upgrading keeps Dubai Trade’s services at pace with the changes in technology. By covering the entire supply chain, the portal brings together into a single community a vast majority of companies that interact with Dubai’s ports, customs and the free zone for the purpose of trade.

About Mashreq bank

Named the "Best Bank in the UAE" by Euromoney magazine in 2006, Mashreq is among the largest financial institutions in the region.  It was the first UAE bank to install ATM cash dispensers, the first to issue debit and credit cards and the first to introduce consumer loans.




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