Following this announcement, Network International is set to further improve its payment technology and capabilities in Egypt in order to accelerate the transition to digital payments from cash. The investment focuses on the country’s process of financial inclusion objectives while also accelerating the GDA growth procedure.
According to the press release, a significant part of the funds will be centered on procuring, deploying, as well as maintaining approximately 100,000 Point-of-Sale (POS) machines around the region. The remaining sum of the investment is set to be offered into the efficient incorporation and operation of Network One, the company’s payment technology platform.
By aligning with Egypt’s financial inclusion strategy, Network International plans to make the digital payment acceptance process economically feasible for many small and medium-sized enterprises (SMEs) and merchants, through low-cost payment acceptance offerings and solutions.
Digital payments company that operates in the Middle East and Africa (MEA), Network International offers businesses and companies the needed suite of services to develop by simplifying the payments and commerce procedures. The company had multiple partnerships and product launches in the last couple of months, covering several different geographies around the world.
In August 2023, Network International introduced its `WeChat Pay` acceptance service on the N-Genius POS terminals. The product was built in Network’s long-term partnership with Tencent Holdings Limited, the official developer of WeChat. Following the announcement, WeChat Pay acceptance was offered on the company’s POS terminals across the UAE, which enabled Chinese visitors and customers to make transactions efficiently and securely by leveraging their WeChat Pay mobile wallets.
The addition of WeChat Pay into the Network International’s acceptance offerings followed the firm’s aim to continuously make new and relevant propositions available to trader and merchant collaborators, as well as to meet the needs and preferences of their clients and customers.
Earlier in the same month, the company expanded its strategic deal with noqodi to improve and broaden the latter’s digital payments capabilities to new business segments. Network International was set to offer its services to noqodi’s various existing payment channels, including ecommerce, SoftPOS, and POS while making it possible for them to accept card payments. This followed the firm’s focus to expand to new unbanked segments, including retail and commerce, and beyond just government and private sector solutions.
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