Business | Shipping
Dubai Trade opens e-payment facility
Dubai Trade, the online portal for Dubai Ports and Customs and Freezone Corporation, on Sunday launched a Centralised e-Payment Gateway (CePG), propelling Dubai to the position of the most efficient trading hub in the world.
- By Suzanne Fenton Staff Reporter
- Published: 00:16 May 19, 2008
Dubai: Dubai Trade, the online portal for Dubai Ports and Customs and Freezone Corporation, on Sunday launched a Centralised e-Payment Gateway (CePG), propelling Dubai to the position of the most efficient trading hub in the world.
The CePG will allow online transactions for customers dealing with Dubai World companies.
Mahmoud Al Bastaki, director of Dubai Trade said, "We launched this service to make the trading community able to transact with imports, exports, dealing with shipments and so on. We see this as a vital element in strengthening Dubai's aim to be the most efficient trading hub in the world."
Al Bastaki said the benefits include saving time and money and a reduction in traffic congestion.
"If you can pay online, you don't have to physically queue. With this you don't have to submit any papers. You can pay anytime, anywhere.
"And it will help reduce traffic in Dubai," he said.
There are currently about 9,000 companies registered on the Dubai Trade portal and around 50,000 customers within Dubai World Group companies.
Mohammad Al Muallem, senior vice-president and managing director of DP World's UAE region, said, "By the end of the year, we want a high percentage, maybe 95 per cent to 99 per cent of all transactions done at the port, to be done online."
Al Muallem also said he hoped the concept would eventually be used for international trade.
"We'd like to go beyond the UAE borders. We see where the imports are coming from and maybe we could hook up with those ports, for example in the Far East, so everything can be done on the way. Like a courier company, you can track imports online," Al Muallem said.
Ebrahim Al Janahi, senior vice president of commercial sales, Jebel Ali Free Zone Authority (Jafza), said, "The CePG service is a commendable step to make transaction processing more convenient and faster for Jafza clients, as they can now use 'e-deposit' service on Dubai Trade portal."
Share this article
Popular in Business
-
General
Precious jump
Gold prices at new high as India's central bank buys $6.7b worth of gold
Business Editor's choice
-
UAE companies in full force at WTM
Seventy-eight participants are from Dubai and 50 from Abu Dhabi
-
DIFC committed to high standards
Ensures an efficient process to serve the business community
-
Sweet life in the Middle East
A sweet look at the confectionary industry in the UAE and Middle East
