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Tejuri.com LLC, the Middle East’s first online shopping mall, in conjunction with Dubai’s Department of Economic Development, announced a partnership with CyberSource, a Visa company (NYSE:V) and one of the world's leading providers of eCommerce payment management services, to provide secure online payment acceptance capability to Tejuri’s partner retailers in UAE.
With the rise in Internet and smart phone penetration, consumers in the GCC are becoming increasingly media-savvy and showing an inclination towards online purchasing. More than USD 3.2B was spent on online shopping in the GCC in 2012 (1). To meet the growing spectrum of consumer preferences and increase in online shopping patterns, retailers in the region need to adjust and keep repositioning themselves to suit the evolving landscape. Tejuri.com, with support from CyberSource aims to enable retailers in the UAE to meet this challenge by providing a convenient, safe and secure online payment acceptance environment to its partner retailers.
“It was crucial to partner with world leading providers to assure our partner retailers of the safety of accepting payments online. CyberSource with their global experience and local market knowledge got us trading online with the speed and efficiency we were looking for,” said Ayaz Maqbool, Managing Director Tejuri.com. “The technology they brought to the table in the form of Decision Manager – featuring the world’s largest fraud detection radar and the expertise of their managed risk analysts, sealed our confidence in their solution.”
CyberSource is one of the world’s leading providers of eCommerce payment and fraud management services, and will be providing the online shopping mall with real-time fraud detection solution to empower and safeguard the interest of Tejuri’s partner retailers and their customers. With Decision Manager Tejuri.com can create and modify rules on demand, test fraud rules in a ‘passive mode’ before they go ‘live’ and benefit from advanced detection technologies. CyberSource’s Managed Risk Services team, based out of Dubai, will also help the company to implement, maintain and optimise its fraud management operations.
Steve Warner, head of CEMEA sales at CyberSource said: “By working with CyberSource, Tejuri.com is cementing its secure payment promise to retailers. As the online shopping industry in the Middle East continues to grow, our solution will enable Tejuri.com to keep pace with increasing demand driving eCommerce growth, building consumer confidence in online shopping in this market. Our global fraud management portal not only offers a streamlined solution, but allows Tejuri.com to benefit from the knowledge generated by the data of more than 60 billion transactions we process annually, giving it visibility of best practices and intelligent methods of fraud prevention."
CyberSource, a wholly-owned subsidiary of Visa Inc., is a payment management company. Over 400,000 businesses worldwide use CyberSource and Authorize.Net brand solutions to process online payments, streamline fraud management, and simplify payment security. The company is headquartered in Foster City, CA and maintains offices throughout the world, with regional headquarters in Singapore, Tokyo, Miami, Sao Paulo and Reading, U.K. CyberSource operates in Europe under agreement with Visa Europe. For more information, please visit www.cybersource.com.
Tejuri.com is the region’s first online mall targeting growing consumer demand for a secure, trusted platform to purchase their favourite brands without leaving their homes.
Supported by Dubai’s Department of Economic Development, Tejuri the e-Shopping Mall will build on the success of Tejari FZE, the B2B online portal that pioneered supply management technologies and professional services over the past decade. Through a one stop e-shop platform, Tejuri will provide shoppers with the opportunity to evaluate all the choices available to them, including access to new products in a secure 24X7 location, giving them control over their shopping experience from the comfort of their own homes.
DABO & CO (for Tejuri)
Tel: +971 4 344 4901
Mob: +971 50 378 2723