Alain Finance, a private joint stock company that specializes in designing and offering alternative financing solutions to small and medium enterprises (SMEs) across the UAE, has announced the launch of its credit card offerings in the UAE and collaboration with Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region.
This collaboration leverages Network’s proven expertise in providing end-to-end card processing solutions, enabling Alain Finance to reduce its operational card management overheads. Network’s established payment infrastructure and value-added revenue-generating and risk management services will help Alain Finance to focus on differentiating itself as a leading digital player in the lending market.
Network International provides payment solutions to over 200 financial institutions in the MEA region. The company’s end-to-end card solution for Alain Finance includes high-quality value-added services such as 3D Secure, Easy Payment Plans (EPP) at points of sale, Card Control, and loyalty services. Network will also support Alain Finance with the required capabilities for ad hoc issuance of cards in digital format for Google Pay and Apple Pay, in line with Alain’s objective of becoming a leading digital player.
With products and services ranging from asset financing such as loans against POS and medical factoring to corporate account management and trade finance, Alain Finance will now be able to streamline all its credit payment operations through Network’s industry-leading platform, while also being able to focus its resources and manpower on expansion and creative solutions development.
Commenting on the partnership, Navneet Dave, Regional Managing Director – Processing for GCC said, “We are thrilled to be collaborating with Alain Finance and driving fintech innovation as an essential part of business operations, enabling them to not only offer their customers seamless experiences but to also streamline daily commercial activities for a more lucrative future.”
“The past five years have seen a drastic shift in how customers perceive financial service companies, leading to an increased demand in digital proficiency. We are proud to be supporting the retail finance ecosystem needs of businesses like Alain Finance, providing innovative solutions to help them offer their customers value-added services while also boosting their operational efficiency across the board,” Navneet added.
Abdulaziz Alshareef, CEO of Alain Finance said, “This partnership represents another milestone achievement in the company’s mission to support the UAE economy through an innovative, client-oriented, and business-friendly approach, and Network International is the best digital commerce provider in the UAE that serves our purpose.”
“We are expecting further demand for credit cards in the coming years, especially with the UAE government’s support to further facilitate the use of electronic payments in the country through developing and expanding the payment acceptance infrastructure and regulations in the country,” he added.
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