CAIRO: Souq.com, which bills itself as the largest e-commerce marketplace and auction website in the Arab world, recently launched its Egypt portal. "We are proud to officially launch Souq.com Egypt which brings unrivalled e-commerce capabilities to all Egyptians and will serve as an enabler for growth of future web-based services, helping more Egyptians realize the power of the Internet, said Omar Soudodi, general manager of Souq.com Egypt. The portal is a unique online marketplace, providing e-commerce capability through a secure online shopping and delivery service platform, according to a statement. "Souq.com is a tried and tested e-commerce platform with over five years of successful service and thousands of online transactions daily, the statement read. Souq.com also offers the only auction service of its kind where buyers can bid on items to secure them. "The fundamental principle behind Souq.com's success has been its complete, end-to-end service offering for both buyers and sellers, said Ronaldo Mouchawar, CEO of Souq.com. "It offers marketing, buying, selling, electronic payment and product pickup/delivery from one easy to use, completely secure location, enabling both individuals and businesses to sell their goods and services to millions of online users easily. One of the many hurdles to broader e-commerce adoption regionally has been the lack of availability of alternative payment methods to credit cards, he said, "At Souq.com, we integrated a prepaid card payment method (cashU) which is internet payment service that allows users to purchase CashU credit and pay for items online safely and without the use of credit cards. The company also developed SafePay, which secures and verifies all transactions between buyer and seller. 'Cash on Delivery' services are also available where cash payment is made to the courier upon delivery of goods. Entrepreneurs and small to medium enterprises (SMEs) in Egypt can expand their business online through Souq Stores, where Sellers are able to display all their goods in one location and develop a brand identity. -Daily News Egypt
