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Souq.com launches its Egypt portal

Egypt: Monday, April 12 - 2010 @ 16:20

“We are proud to officially launch Souq.com Egypt which brings new 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.

“Souq.com is a tried and tested e-commerce platform with over 5 years of successful service and thousands of online transactions daily, allowing buyers and sellers to transact securely while encouraging broader adoption of the Internet as a tool for commerce and trade among businesses and individuals,” he added.

Souq.com enables Egyptians to buy and sell just about anything online through a safe, reliable and easy to use website that makes shopping easy and fun while providing an additional layer of quality assurance. 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 over the past 5 years 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. For example, one of the many hurdles to broader e-commerce adoption regionally has been the lack of availability of alternative payment methods to credit cards. 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. We also developed Souq SafePay, which is the only service of its kind to secure and verify all transactions between buyer and seller, providing 100% guaranteed transactional security for that extra peace of mind. For users who don’t want to part with their cash until they receive their goods, we also offer a ‘Cash on Delivery’ service where cash payment is made to the courier upon delivery of goods.”

Souq.com also provides entrepreneurs and small to medium businesses (SMBs) in Egypt with the ability to expand their business online through Souq Stores, offering a robust and highly-trafficked platform and enabling them to sell their goods and services online without having to build their own complex e-commerce website. Sellers are able to display all their goods in one location and use powerful, easy to use tools to develop their own brand identity on Souq.com while attracting thousands of buyers to their online Souq store.

As SMBs make up the bulk of Egypt’s private sector, Souq.com empowers them to take full advantage of the sales and growth potential that the Internet offers, helping them to increase national GDP and cross the bridge between traditional commerce and towards today’s global e-commerce practices.

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Monday, April 12- 2010 @ 16:20 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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