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4Sale Achieves Remarkable 2023 Sales Volume Increases

The Kuwaiti online classifieds platform is now focused on hyper-personalization and infrastructure upgrades amid ambitious plans for 2024.

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4sale achieves remarkable 2023 sales volume increases

4Sale, Kuwait’s prominent online classifieds platform, has announced its exceptional growth in 2023, along with heightened activity across all of its 197 categories. The ongoing trend of consumers shifting towards online transactions rather than cash payments has continued to flourish, with over 90% of the company’s sales occurring online in 2023, a significant increase from the 65% recorded in 2019.

2024 should see continued growth for the classifieds platform as the company focuses on refining and enhancing its search capabilities. A major strategic endeavor will involve the implementation of hyper-personalized recommendations for customers, enabling the optimization of strategies for holidays and major commercial events. To achieve this, 4Sale will employ data collection and analysis techniques similar to those of Google and Facebook.

Furthermore, this year will see a significant upscaling of the company’s infrastructure to accommodate its rapid growth trajectory. The goal is to reach two million monthly active users by 2025, a substantial market share in a country of just five million people.

Tarek Sakr, Chief Executive Officer of 4Sale, expressed his enthusiasm for the outstanding 2023 performance and emphasized the company’s ambitions to enhance customer experiences in the coming year. “While a market leader, 4Sale’s ambition remains undimmed; we want everything we do to be bigger and faster, easier and more personalized for customers, with maximum choice […] I look forward to next year with confidence and excitement”.

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Meanwhile, Nabil Mohamed, Chief Product Officer and Chief Technology Officer of 4Sale, highlighted the company’s commitment to hyper-personalization and technological advancements that aim to transform sporadic purchases into daily habits. “We are committed to delivering an enhanced user experience and embracing technological advancements for the benefit of our users. Our goal is to offer highly relevant recommendations and truly beneficial features”.

As part of the ongoing infrastructure upgrades, 4Sale is investing in more efficient technologies to streamline website and backend operations in a bid to enhance performance and data-handling capabilities.

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Lebanon Ministers Meet Visa Over National Digital Payment Platform

Finance and technology ministers say a comparative study and roadmap will follow before any decision on adopting a model.

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lebanon ministers meet visa over national digital payment platform

Lebanon’s finance and technology ministers met representatives from Visa last week to discuss a proposed unified national digital payment platform for government services, according to a readout from the Ministry of Finance.

The meeting brought together Finance Minister Yassin Jaber, Minister of State for Technology and Artificial Intelligence Kamal Shehadeh, a Visa delegation, and experts from both ministries. Discussion focused on whether Lebanon could establish a single platform through which citizens and institutions would pay taxes, fees, fines and other official transactions electronically, using mobile phones and other digital channels.

The Visa delegation presented examples from countries that have adopted unified government payment platforms, including the United Arab Emirates, Singapore, Estonia and Jordan. According to the readout, the examples were presented as having increased collection rates and expanded financial inclusion.

Talks covered settlement mechanisms, direct transfer to the treasury account, financial reconciliation, risk management, cybersecurity, fees, and an operational model that would involve the private sector. The parties agreed to continue technical and institutional consultations, prepare a comparative study, and develop an implementation roadmap before any decision on adopting a model for Lebanon.

Jaber said the Ministry of Finance had already enabled citizens to pay using credit cards and e-wallets through transfer companies, but described the proposed platform as a further step. He framed the development of electronic payment and collection systems as a priority within the ministry’s modernization plan.

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Shehadeh outlined the citizen-facing concept as a single mobile application through which users could settle obligations to ministries, government institutions and other bodies.

“The idea, in short, is that any citizen downloads an application on their mobile phone, through which they can pay all service obligations for all ministries, government institutions, or those owned by the Lebanese state, and others as well, as the platform is not limited only to state institutions,” he said.

Shehadeh added that the platform would not displace banks and money transfer companies that currently provide collection services to the state, calling it complementary to their work.

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