Network International, with its headquarters in Dubai, would spend more than $32 million (1 billion Egyptian pounds) to develop its payment processing infrastructure in Egypt.
To "accelerate the transition from cash to digital payments," the corporation will strengthen its payment technology and capabilities in the North African region. A large portion of the additional expenditures will be used to buy, set up, and maintain some 100,000 cutting-edge point-of-sale (POS) equipment. The remainder will be spent on Network One, its payments technology platform, deployment and management.
According to Nandan Mer, Group CEO of Network International: “Our presence in the Egyptian economy spans over two decades, during which we've served numerous banks and financial institutions. The investment goes beyond monetary value – our focus includes continuing to hire and develop local talent and leadership.”
For more than 25 years, Network International has provided cutting-edge solutions that increase revenue and profitability for our clients and support the growth of businesses and economies by streamlining payments and commerce. We have developed steadily to become the biggest acquirer in the UAE and the Middle East and Africa (MEA) region's top digital commerce enabler.
We provide a complete range of cutting-edge payment solutions and services. We handled over 979 million issuer transactions on over 16 million cards for over 200 financial institutions in 2021, totaling over $42 billion in total processed volumes (TPV) for over 150k merchants