The United Bank Launches security code service to secure online shopping for customers online

07/04/2020

The United Bank

Launches security code service to secure online shopping for customers online

 

Ashraf El-Kady - Chairman of The United Bank

  • 6 unique features for security code service from The United Bank’s cards.
  • More than 65 thousand cards issued by The United Bank and applied the new security code service.
  • $3.5 trillion in global e-commerce sales volume in 2019.
  • 75% of Internet users in the world shop online.
  • The 8 most important areas of e-commerce.
  • Top 10 countries in e-commerce sales volume.
  • 2 billion dollars the volume of e-commerce in Egypt in 2019.
  • The plans of the state and the central bank to encourage electronic payment and transformation of a non-monetary society.
  • Challenges of e-commerce growth in Egypt.
  • Legislations and laws that contribute to the growth of e-commerce in Egypt.

 

Cairo: April 7th, 2020

 

The United Bank launched a security code service last week for The United Bank customers for credit card holders, whether conventional or Sharia-compliant. Also MEEZA cards and prepaid cards have unique features and features to secure online marketing transactions via the Internet.

 

The Security Code service is a set of letters, numbers and symbols that are sent to customers from different The United Bank card users when shopping online to enter it on the page where they are shopping and make the payment process successfully.

6 Security code service features

The new security code service from The United Bank has 6 features:

1-    Online shopping from e-commerce sites via the Internet.

2-    The Security Code service is provided free of charge to all credit card holders, whether they are compatible with Sharia or traditional provisions. As well as MEEZA cards and prepaid cards.

3-    The security code service is automatically activated for all existing and new customers.

4-    The personal email of the customer is added to more insurance procedures and an additional way to receive the security code in case the text message does not reach the mobile phone.

5-    The customer can submit an electronic request to obtain all types of United Bank cards that enjoy the security code service through the United Bank website on the International Information Network (Internet) 24 hours 7 days a week.

6-    Also, through the 64 branches of the United Bank spread throughout the Republic.

 

65 thousand cards for the United Bank implemented the security code service

Ashraf El-Kady - Chairman The United Bank - says that the safety code service has been activated on the 65 thousand cards issued until the first of April 2020, whether conventional or in compliance with the provisions of Sharia, prepaid cards and MEEZA cards.

 

3.5 trillion dollars the volume of e-commerce globally

Ashraf El-Kady explained that the volume of global e-commerce amounted to 3.5 trillion dollars. And that there are about 75% of Internet users around the world shopping online. According to the latest statistics of the Digital Market Outlook in 2019.

 

The most important 8 areas of e-commerce

Ashraf El-Kady highlighted the 8 most important areas of e-commerce: fashion and beauty - electronics - food and personal care - furniture and home appliances - children's toys - travel accessories - music, devices and video games.

 

10 countries top the sales of e-commerce

Ashraf El-Kady also pointed out that there are 10 countries that lead the volume of e-commerce sales according to the Emarketer Foundation for Marketing Research, namely: China is ranked first - followed by America - then Britain - then Japan - and South Korea - as well as Germany - France - and Canada – until we reach India and Russia who They come at the tenth position.

 

The Egyptian government and the central bank supports e-commerce

Ashraf El-Kady explained that the Egyptian government and the Central Bank of Egypt are serious about plans to support and grow the development of the digital industry and advance e-commerce. And this is through many contributions, the most important of which are: developing electronic payment methods and converting to a non-monetary community through the National Payments Council plans. As well as national initiatives such as the development of the small to medium enterprises and Nile Preneurs. Also the exit of laws and legislations that contribute to the increase and growth of e-commerce. As well as encouraging innovations, startups and entrepreneurship. In addition to the media campaigns that aim to change the pattern and culture of payment and consumption among Egyptians.

 

The most important challenges for the growth of e-commerce in Egypt

The judge explained that the most important challenges facing the growth of electronic commerce inside Egypt are: legislation and laws. Also, obstacles related to the difficulty of shipping and arrival of products. In addition to the low consumer confidence in the quality of products exchanged electronically.

Legislation and laws to secure electronic transactions inside Egypt

Ashraf El-Kady indicated that the Ministry of Communications and Information Technology submitted two projects to the House of Representatives to regulate e-commerce:

The first: a draft law to regulate commercial transactions "online" and aimed at reducing e-commerce problems and stimulating investment.

The second: a draft law protecting personal data and regulating commercial transactions.

 

2 billion dollars, the volume of e-commerce in Egypt in 2019

The judge pointed out that the volume of e-commerce in Egypt amounted to about $ 2 billion in 2019. The youth segment leads the process of e-commerce growth, both through the highly popular e-commerce platforms such as: Jumia and Souq. Com.

 

The Egyptian market has also become attractive to investors globally, because it has great ingredients that help the growth of electronic commerce, especially because Egyptians are among the people of the world that mostly use the Internet with 48 million people.