The SekurPay™ solution fitted inside the vehicle features a combination of GPS- and microprocessor- enabled technology that tracks payments, so if you're vehicle payments are in arrears, you won’t be going anywhere.

The On Time system has been turning late-payers into pedestrians in America for three years.

According to Basel Al Salah, CEO of Sekurus International, the use of SekurPay™ has reduced account delinquency to less than 2%, from a high of 40%.

“The dealers and banks associated with our program and our product would not do a single deal without the device,” he added.

Sekurus International is currently negotiating with a number of established financial institutions for the securitisation of automotive loan contracts worth $800 million.

Additionally, Sekurus International has concluded a Master Distributor Agreement in Saudi Arabia with Sequr ME.