Dubai-based payments processor Network International said Wednesday that it will launch its new ‘direct-to-merchant’ service offering in Egypt after receiving approval from the central bank.
Network said in a statement that the service will be offered under the new ‘networkpay’ brand and it will allow merchants to accept payments from their customers and facilitate greater digital payment penetration in the North African country.
“We are excited to be working closely with several of our existing processing customers and the Central Bank of Egypt on our direct-to-merchant payment services,” Andrew Key, the Group Managing Director Of Acquiring at Network International said in a statement adding that the approval offers the opportunity to further strengthen the company’s acquiring footprint in Egypt.
The payments company has been providing outsourced merchant and issuer payment processing services in Egypt to leading banks and financial institutions and it is now entering the direct merchant acquiring space.
Network has been at the forefront of driving digital payments acceptance and broader financial inclusion in the Middle East and Africa, offering end-to-end payment solutions to a growing customer base in more than 50 countries.
Egyptian businesses and consumers are increasingly embracing digital payment methods, driven by the government’s strong efforts to fulfil Egypt Vision 2030.
