eXtra becomes Kingdom’s first approved SADAD retailer

08/04/2012

Khobar, Saudi Arabia; August 04, 2012: United Electronics Company (eXtra), Saudi Arabia’s fastest-growing consumer electronics and home appliance retailer, has become the first retailer in the Kingdom to be approved to join the SADAD payment system. Established by the Saudi Arabian Monetary Agency, SADAD is a single electronic payment platform that links different billers and banks, enabling consumers to pay bills electronically at any bank in the Kingdom.

SADAD was developed with the objective of significantly reducing the time customers spend paying their bills. As an approved SADAD company, customers can now buy their favorite products at www.extra.com and pay their bills electronically at their own bank through the various banking channels, including internet banking, phone banking and ATMs, as well as at any bank in the Kingdom, even where they do not hold an account.

“In addition to offering the widest range of consumer electronic products in the Kingdom, eXtra is also committed to providing customers with the maximum amount of flexibility in how they choose to pay,” said Mohammad Galal, CEO, United Electronics Company (eXtra). “By significantly simplifying the electronic payments system in the Kingdom, SADAD continues to bring very real benefits to banks, billers and, most important, millions of consumers.”

Until now, approved SADAD billers have been focused in the telecommunications & utilities, government services, technology & media, transportation, financial & insurance services, and educational services sectors. With today’s announcement, eXtra becomes the first retailer in the Kingdom of Saudi Arabia to gain approved SADAD biller status.

eXtra was recently voted by one of the Kingdom’s leading economic newspapers as offering the “Best Retail Working Environment in the Kingdom.” The company was also named as one of “The Top 200 Companies in the GCC” by Forbes Middle East, and also ranked as one of the Top 5 Services companies in the Kingdom of Saudi Arabia. In both 2010 and 2011, eXtra was cited by the Saudi Arabian General Investment Authority (SAGIA) as one of the Kingdom’s fastest-growing companies. In addition, eXtra was also recently named as one of the Arabia 500 top companies in recognition of its exceptional growth and sustained commercial success.

Currently, eXtra provides the over 10 million customers it serves annually with more than 12,000 world-leading products. The company ranks first in the Saudi Arabia consumer electronics sector in terms of the number of stores and products it offers.