What is E-Payment?
E-Payment stands for electronic
payment, which is an online trans-
action for buying and selling goods
or services using the internet.
UITS has teamed up with the Fi-
nance Department to implement an
E-Payment service to automate the
process of managing financial
transactions and provide a service
to our university community and
vendors to pay online. The E-
Payment service will consist of
both
Inflow
and
Outflow
transac-
tions processing.
Inflow:
Inflow indicates the process of col-
lecting payments online, In other
words, the process of selling goods
or services to customers. For exam-
ple, conference registration of-
fered at UAEU, training courses...
etc.
Any department or faculty @ UAEU
will be able to use the inflow solu-
tion and will have the ability to
verify and trace these transactions
with the Finance Department. In
turn the Finance Department will
verify these transactions with the
bank.
All transactions will be through a
secured payment gateway website
provided by Al Mashreq Bank,
which will collect credit card infor-
mation and thus no such infor-
mation will be stored locally as
data will be stored and secured by
Al Mushreq bank.
Outflow:
Outflow indicates payments made
by UAEU to other entities. For ex-
ample, employee’s salaries, paying
vendors for purchased items/
service provided… etc.
This solution will be used by the
Finance Department to process
payments online the E-payment
system is fully integrated with the
university’s financial systems. The
service will be provided based on
collaboration between UAEU and
the UNB bank.
The new service will create a new
mechanism for providing a better
service through faster payment
processing, reducing the number of
checks issued and checks returned,
easier payments tracking, and sim-
plifying payments processing for
the Finance department.
The E-Payment system is currently
in its development phase and is
expected to go “Live�? soon. So
keep your eyes open for an an-
nouncement about the system real
soon.
E-Payment System @ UAEU
Author: Sulafa Abdelrahman
4 | NOVEMBER 2011 |
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