Dubai Trade registers Dh1 billion in Rosoom transactions

A total of Dh1 billion dirhams have been collected and more than one million transactions from the trading community have been conducted via Rosoom, the electronic payment gateway of Dubai Trade.

Dubai Trade, the leading cross-border trade facilitator under Dubai World, said in a media statement today that the milestone, reached following four years after the launch of the gateway, underpins the big success Rosoom enjoys with the trading community.

“This is yet another milestone for both Dubai Trade and the trading community,” said H.E Jamal Majid Bin Thaniah, Chairman, Dubai Trade. “We look forward to see the rest of the 70,000 companies involved in cross-border trading in the UAE that have not yet adopted Dubai Trade eServices to join in and reap the benefits of using Rosoom facilities,” he added.

The highly secure, flexible and innovative payment gateway complements Dubai Trade’s eServices platform, which allow importers and exporters, shipping agents, freight forwarders, customs brokers and transport companies to initiate and complete online all the procedures and processes, including payment, for the various services and facilities offered by DP World, Jafza and DMCC.

This is done via a single window which is shared between users and all concerned authorities, allowing for swift, trouble-free and cost effective operations for both clients and authorities. “We are heading steadfast towards more milestones in future in facilitating trade and supporting UAE’s economy and international status,” the Dubai Trade Chairman added.

Rosoom offers users multiple online payment options, covering credit, debit and prepaid cards such as eDirham, to facilitate payments in a safe and secure environment. Talking about the milestone, Dubai Trade CEO Eng. Mahmood Al Bastaki said: “This is a great show of confidence in Dubai Trade’s e-solutions by the trading community, considering that we launched Rosoom only about four years ago. The number of companies adopting Dubai Trade eServices platform has been growing steadily and the number of transactions has been almost doubling every year.”

Dubai Trade has also integrated Rosoom with the online payment systems of several key banks internationally and locally, making it easier and more secure for trading clients of these banks to use Rosoom. These include Mashreq Bank, Emirates NBD, Commercial Bank of Dubai, Dubai Islamic Bank, Emirates Islamic Bank, HSBC, Habib Bank and Standard Chartered.

“What is remarkable about Rosoom’s performance is that while digital payment systems tend to encounter occasional hitches that may delay or disrupt processes or display security gaps, the one billion dirham which involved more than one million transactions have all been successfully completed with no major complaints from users, no downtime instances and no fraud cases. Millions of dirhams pass every week through Rosoom in complete safety and security,” Al Bastaki added.

Additionally, Dubai Trade has recently developed a highly innovative online payment solution that combines the convenience and ease of use of payment cards with higher security and real-time management of payments. The new, customisable Rosoom Wallet, which will be launched soon, will offer managers a high degree of flexibility and security in the management and control of payments.

To ensure timely and trouble-free processing of end-to-end supply chain transactions, Dubai Trade has built a robust, state-of-the-art system based on the most advanced industry-standard technologies which offer client the highest level of security, round-the-clock availability and uninterrupted service. Rosoom payment gateway architecture uses advanced application programming interface (API) to ensure smooth integration with all banking and clients’ systems.

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