Dubai, UAE, 16^th October 2003

“With regional e-commerce continuing to develop, we believe now is the right time to introduce a dedicated e-payment service to our Cardmembers in the Middle East. American Express Cardmembers are now in a prime position to take advantage of the speed and convenience the Internet offers without the risk”. American Express Cardmembers benefit from an online fraud guarantee, which frees them from liability should they be exposed to online fraud.

“Our tie-up with Comtrust will enable us to rapidly roll out this service to online merchants across the Middle East giving them ‘virtual’ access to American Express Cardmembers worldwide. For regional Cardmembers, this means they are now able to take advantage of the speed and convenience offered by e-commerce,” explained Hujair.

The agreement enables Comtrust to offer an American Express-enabled e-payment service in the Middle East. As a result merchants signing up for the new American Express service, now offered by Comtrust, will be able to accept and process online payments involving American Express cards. American Express in the UAE having already experienced a 65% increase in their customer base and 300% growth in their merchant base since the launch of the Blue from American Express Card in 2001 is expecting this e-payment facility to boost business levels to new heights.

“In terms of Comtrust’s ePayment services, the launch of American Express online payment services completes our card based ePayment offering as well as giving the growing base of Cardmembers access to regional e-business services,” said Ahmad Abdulkarim Julfar, General Manager, Comtrust. “We have already had significant interest from a number of merchants who are keen to offer online services to American Express Cardmembers.” Etisalat’s e-business specialist has provided the necessary infrastructure and associated technology. “Quite simply our role is to connect online merchants, American Express and its Cardmembers, allowing rapid, safe and secure online payment transactions to take place,” said Julfar.

Comtrust will offer a range of facilities under this arrangement that will enable e-merchants to ‘virtually’ connect to American Express Middle East. The key being, explained Julfar, to ensure the e-payment solution selected by the merchant meets their unique e-business requirements. Comtrust said that with the advent of regional American Express ePayment services it expects to see online transaction figures to increase further. So far in 2003, Comtrust has recorded a 72% growth in the number of e-transactions it processes, this comes ahead of a 299% increase between 2001 and 2002. The new American Express e-payment service will be ready for use in November. “We are currently finalising the testing phase with AEME and realistically expect to be deploying the service for the merchants by the end of November,” said Julfar.

Merchants interested in the service should contact:
Mr. Ziad Kablawi on 009714 3366177
or send and email to ziad.kablawi@americanexpress.com.bh

Of the service, American Express Middle East said its introduction was part of the company’s ongoing efforts to deliver greater benefits to Cardmembers. “With the launch of this service, American Express Cardmembers have now been given a whole new purchasing medium in the region while still maintaining all the benefits and advantages one receives through American Express,” said Hujair.