Seamless has been the only payment and e-commerce specialized conference and event in the MEA region for many years. Our relations with the organizers extend to many years back and despite the pandemic, we were keen to be present every year either with exhibitor booth or as delegate. It is the right platform for the Netcetera payments offering and this year we decided to extend our participation beyond the Middle East event to Africa too. So, in 2022 we will have two exhibitor participations; one in Dubai from 30th of May to 1st of June and another contribution in Kenya addressing the East African markets in October.
We actually did not stop participating during the pandemic so we joined the Seamless online event in 2020 and though the results were not quite the same, since online events were not popular or known in MEA at that time, we had solid reasons to believe that the market would pick up again and we participated in 2021 with a booth in the first physical event right after COVID19 restrictions were relaxed. We are looking forward to 2022, returning to the full-fledged and busy events that Seamless and Dubai had in the past.
Last year was definitely memorable for all of us, joining the physical world of sales again after the 2 years of pandemic and meeting our customers/prospects face-to-face again. It was so great to meet some of our customers who signed with Netcetera remotely in 2020, it was the moment where we matched faces to voices that trusted us and signed 5-year contracts based on remote meetings and presentations.
Though some of Netcetera’s offerings are not yet applicable in MEA, such as PSD2-related products, other topics look very interesting to our existing and prospect customers these days and are expected to grow in the coming few years such as out of band (OOB) to maintain better customer user experience through biometric authentication. Also, Risk Based authentication is becoming an essential requirement knowing that fraud risks are expected to reach 11% of the ecommerce market (around USD 2.8 Bn). Acquiring products are very attractive to our prospects with the deadline from schemes approaching by October 2022.
We are also exploring two new directions in MEA which are the Directory Server as a response to the increasing demand on building local schemes specially in Africa. We are also exploring our offerings towards large merchants in the region as a new sales segment.
We believe that we have a solid value proposition in the MEA market when we compare ourselves to nearest active competitors, we focus highly on quality and professional attitude towards our customers from sales, presales, onboarding/project team and later when we provide high support services through our customer success executives. This dedication is rare while our competitors provide services across longer time differences and with higher costs.
We think that Netcetera’s solutions have great opportunity in this growing market which is keen to find a sensitive blend of quality, reliability, service and price.