Platform Connects Consumers, Businesses and Mobile Operators for Mobile Billing
System allows any business to connect to the platform for direct mobile billing
The new system, which was designed, built and is powered by LINK Development, another OTVentures firm and a sister company of ARPU Plus, connects electronic and mobile businesses to their consumers through major mobile carriers. The first phase of the project will provide digital merchants and consumers in the UAE, the Kingdom of Saudi Arabia, and Egypt the ability to pay for their digital purchases from any desktop or mobile device through a single, click-to-buy action, using a Direct Carrier Billing system. Major mobile carriers in these three countries are already on board with the project, and T-PayTM has plans to roll-out the service to other major markets in the region in the next phase.
T-PayTM is expected to help businesses offering digital goods and services overcome the setbacks in their growth, mostly due to issues of payment methods or the lack of them. At the moment, consumers who buy digital goods online pay either through credit cards, pre-paid cards or cash on delivery; the latter still being the king of all payments in the region, albeit with high risk and high cost to merchants. With T-Pay, consumers will only have to enter their mobile number to purchase digital goods or services, and the transaction will be added to their monthly mobile telephone bill by their mobile carrier, if they have a post-paid number, or will be deducted from their existing account for those who are a pre-paid number.
Fadi Antaki, CEO of OTVentures, a pioneering digital and technology solutions provider for both online and mobile platforms, said: "In a region where credit card penetration is low, mobile penetration is high and the conversion rate for buying online digital goods through a credit card is low, T-PayTM becomes the answer. A consumer who browses digital goods and services online will more often than not leave the site just before that final step that requests input of credit card details. The conversion rate from shopping to buying is as low as 10-12 per cent at the moment".
Sahar Salama, General Manager of T-PayTM stated: "These are staggering figures. T-PayTM will change the face of digital business in the region. It will unlock the potential of online transactions by unleashing the power of mobile monetisation. It will also revolutionise the way people consume digital products and services online and will become an important player in the future growth of digital economy".
Credit cards, pre-paid cards or cash on delivery have been the three most popular methods to pay for online purchases around the world and in the region, but in the Arab World, credit card penetration is low, the pre-paid cards industry is fragmented and many potential customers are young and unbankable.
The worldwide mobile payment transaction value has surpassed US$235 billion in 2013. The Middle East's share of this market is minimal but is expected to grow at a compounded annual growth rate of 80 per cent until 2017, when it will be worth US$27.6 billion.
Adham el Gazzar, Managing Director of ARPU Plus, added: "T-PayTM expands the mobile money ecosystem through an integrated and secure payment method that is essential to fill the gap in online demand for digital products and services. The platform allows mobile carriers and merchants to reach and serve their consumers, help drive the adoption of mobile payment services and enforce a smoother transition towards a digital economy."
Sahar Salama explained: "T-PayTM allows merchants to reach a growing market of mobile users and provide them easy, fast, secure and available payments wherever and whenever they want. Direct billing will also benefit the carriers, offering a US$13 billion revenue opportunity by 2017. While unlocking the potential of mobile transactions with monetization, merchants and carriers can tap easier into the market, establish relationships with their customers, increase user loyalty, enhance their brand value and expand their reach. They will be able to offer products and services with higher online payment conversion rates".
Adham el Gazzar concluded: "The region is credit card shy, and the cash and carry culture predominates. Fortunately this is not the case for mobile payments. Many have made a paradigm shift, jumping directly from cash to mobile payment while bypassing the credit card phase. This is especially true with the young Arab population that has been known to adopt newer technologies quickly and easily. For many businesses looking at exponential growth through online presence, the inclusion of a mobile payment method is not an option anymore. It is indispensable."
OTVentures creates a powerful customer experience through its online and mobile solutions portfolio. OTVentures empowers brands, governments, and consumers through a diverse blend of digital solutions spanning social marketing, content services, mobile Value Added Services (VAS), solution development, and hosting services. Through our innovative digital products we touch the lives of more than 50% of MENA internet users, and 72% of MENA mobile subscribers every day. With exclusive partnerships with the most prominent global players (Twitter, msn and more than 100 content providers), we provide exposure and reach that creates strong, lasting impacts for our clients. OTVentures has over 16 offices covering all markets across the Middle East and North Africa and Turkey in addition to Canada, Italy, Pakistan, and Bangladesh.
About Arpu Plus
Arpu plus is specialized in providing value added services and monetization platform solutions for more than 10 years. Pioneering new ventures and consistently providing the finest services and efficient solutions, Arpu plus is an OTVentures subsidiary. They have offices in Algeria, Tunisia, Morocco, Sudan, Dubai, KSA, Jordan, Yemen, Pakistan, Bangladesh, Italy, the UAE, Canada and a head office in Egypt.
About LINK Development
LINK Development is a leading technology solution provider that was founded in 1996, and is a subsidiary of OTVentures, a pioneering digital and technology solutions provider for both online and mobile platforms. Headquartered in Egypt with offices in UAE, KSA, Qatar, LINK Development's reach expands throughout the Middle East providing a wide range of solutions including E-services Automation, E-commerce, Enterprise Integration, Customer Relationship Management, Enterprise Resource Planning, Mobility and Infrastructure. Being a Microsoft Gold Certified Partner, the highest level of partner certification from Microsoft, the company has positioned itself at the forefront of the industry in the region. LINK Development also acquired both ISO 9001:2000 certified and CMMI level 3 accreditation. LINK Development's client portfolio includes Fortune 500 companies in the region in addition to leading governments, as well as regional and multinational businesses across industries like Banking, Healthcare, Education, Telecom, Real Estate and others. For more information, please visit our website: www.linkdev.com
Issued by Borouj Consulting. For more information, please contact: Randa Mazzawi email@example.com or Mayssa Makhlouf firstname.lastname@example.org at Tel: +9714 3403005, Follow us on Twitter @Borouj.
© Press Release 2014
© Copyright Zawya. All Rights Reserved.