The online auction site for the Middle East and North Africa region, makook.com, has requested Emirates Bank International to provide secure online payment solutions for their auction site.
The website will become the first client of EBI to receive pre-authorization payment services through the bank’s Electronic Banking Services (EBS).
Makook aims to build a dynamic online market place, based on an auction service, by offering a free web storefront or inexpensive online sales channel to individuals and businesses across the Middle East.
Presently, the biggest fear that prevents web users from buying or selling online is the disclosure of their credit card details. The new payment method using the bank’s EBS will enable safer e-payments, and may promote an increase in internet shopping in the region.
the pre-authorization payment solution of EBI is gaining acceptance as a new means of providing secure e-transactions in the Internet era. Online sellers and buyers will be able to safely submit their credit card details, which will be transferred and held with EBI rather than being stored on the client’s server. This process will help to protect credit card information from illegal activity.
The Emirates Bank Group provides services including commercial, retail, investment and Internet banking, insurance, credit cards and property development and management to clients in the UAE and overseas.
The companies owned by the group include Emirates Bank International, Middle East Bank, Emirates Financial Services, National General Insurance Union Properties, Network International, Diners Club (UAE), Emirates Loyalty Company and Emirates Merchant Bank Limited. — (MENA Report)
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