HSBC joins Dubai Trade's e-payment gateway Rosoom

HSBC Bank will join Rosoom, Dubai Trade's centralised e-payment gateway, the online portal and trade facilitator of Dubai World said yesterday.

HSBC will offer the bank's direct debit service to customers using Dubai Trade, the company said in a release.

Mohamed Al Muallem, senior vice president and managing director of DP World (UAE Region), and board member of Dubai Trade and Marcus Hurry, deputy CEO of HSBC (UAE), signed an agreement to this effect on Monday, the release said.

The partnership will enable the trade community using Dubai Trade to access their HSBC accounts online and execute monetary transactions with global marine terminal operator DP World, Jafza and DMCC, thereby allowing customers access to multiple transaction methods to settle bills through the single window facility offered by Rosoom.

HSBC, the releases said, will work closely with its customers and Dubai Trade to roll out this functionality over the coming months.

"Through its sophisticated network customised for e-transaction, Dubai Trade has set a benchmark for technology-driven excellence in trading. The inclusion of the services of a reputed bank like HSBC will bring added value to our vast community of traders. It is such initiatives that go a long way in sharpening the competitive edge of the business sector in the UAE," Mohamed Al Muallem, senior vice president and managing director of DP World (UAE) region and board member of Dubai Trade, said.