Tatweer International Software Development Co. Ltd. Participated In Jeddah Commercial Forum 2011

June 21, 2011 - PRLog -- The e-commerce in Saudi Arabia was discussed in Jeddah Commercial Forum, where the Managing Director of Tatweer International Software Development Company, the engineer Ayman Fakeih stated that, there is a trend applied by Visa, which is considered as an application of the 3D Secure System and a new insurance and reassuring for the implementation of the e-commerce, and to provide appropriate guarantees for the client parties, which shared after its application in the Kingdom in the reduction of electronic fraud more than 70 percent ». He added: "In the e-commerce when dealing with visa and others, there is more than one party guarantor», he added that the issues that have difference, often resolved through the three clients parties before it reach the judiciary, in the case of its disagree from the client, the Bank and Visa, in this case it will be brought to the court who considers the case according to the legal way.”

He disclosed that the total volume of e-commerce in the last year reached 2.2 billion riyals, of which 1 SR billion through credit cards, 1.2 billion through the Cache, which include bank transfer and payment upon delivery.

He said: "Despite the increase in the usage of online credit cards to the total usage of the cards from 2.5 percent in 2009 to 6 percent in 2010 (due to “Ingaz” service), but this remains low compared to the UAE where the percentage there reaches more than 18 percent ".

And he said that the recovery of e-commerce is related to the spread of credit cards usage as a preferred option on the Internet, as a result of the speedy implementation of the purchase process and the client still in the e-store, and the readiness of the system to deal with electronic fraud, and the ability of the buyer for objection, with the possibility of purchase with the lack of the cash flow, and openness to international markets and the ongoing regular payment.

And confirmed through the working paper he submitted, that the increasing percentage of Internet spread at a high rate over the past years, rising from 5 percent in 2001 to 41 percent at the end of 2010, and from million user only to 11.4 million users by the end of 2010, while Internet spread percentage in the Kingdom is considered higher than the global average (28.7 percent), and the average of Arab States (24.9 percent), and the average in developing countries (21 percent), but lower than the spread average in developed countries (71 percent).

He continued: "According to the latest statistics, the number of participants in « facebook » website in Saudi Arabia are five million subscribers by the end of the first quarter of 2011, and the number of participants in « linkedin» website  are 358 thousand user within the Kingdom, while the rate of «Twitter» users growth number in Saudi Arabia in 2010 is around 240 percent."

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