ETISALAT, one of the largest telecom operators in the Middle East, made its entry into a new international market in partnership with leading retail bank United Bank Limited (UBL) by extending Etisalat Payment Gateway services to Pakistan. Enterprises can now serve Pakistan-based merchants conducting e-Commerce transactions using UBL as the local acquiring bank. The volume of overall e-banking transactions in the country has increased in 2012 to reach more than $7 million, according to the latest figures from Pakistan's Central Bank. The Etisalat Payment Gateway (EPG) service is a proprietary payment platform that enables real-time authorization of payment transactions from Visa, MasterCard, Diners Club and American Express. This service offers an advanced, reliable, affordable and secure payment mechanism for organizations keen to develop e-Commerce platforms. It enables seamless transaction flow between customers, online businesses, the bank and credit card networks. The signing ceremony was attended by senior officials from Etisalat's Business Solutions including Abdulla Ebrahim Al Ahmed, Senior Vice President, Business and e-commerce division, Marwan Al Qadi, Senior Director Electronics and mobile commerce. Senior executives from UBL included Aameer Karachiwalla, Group Executive - Retail Bank and Najeeb Agrawalla, Group Head – Marketing & Product Management – Retail Bank. Abdulla Ebrahim Al Ahmed, Senior Vice president, Business and e-commerce division, Etisalat, said: “The increasing number of transactions through multiple electronic devices across markets has made it crucial for vendors and payment institutions to be linked, using a secure payment gateway that is flexible and versatile.” “EPG offers a perfect blend of secure and efficient online payment service that merchants can use as a daily (or 24/7) online payment option for their customers. In this regard, the partnership with UBL is important as it enables Etisalat to authorize transactions in Pakistan markets using UBL as the local acquiring bank. This partnership connects six banks to our payment platform.” Aameer Karachiwalla, Group Executive - Retail Bank, UBL, said: “EPG's growing popularity and successful track record in the UAE means that Etisalat is well equipped to deal with the challenges that may be presented in other markets, including Pakistan. We are confident that this partnership will benefit both our corporate and individual customers in Pakistan and allow them to conduct e-Commerce transactions securely”. Najeeb Agrawalla, Group Head – Marketing & Product Management, said: “UBL has always been committed to providing innovative product solutions. We are happy to partner with Etisalat, which has an impeccable track record of payment solutions in UAE and other regions. The new Electronic Payment Gateway will provide a robust and secure platform that fosters e-Commerce and payment systems in the industry.” Etisalat has over 6.3 million mobile subscribers in the UAE, representing a market penetration in excess of 140 percent, placing the country amongst the most highly penetrated markets in the world. — SG