Network International to drive financial inclusion and make digital payments more accessible in Egypt, through new payment service ‘networkpay’
Published On : 15 May 2023
Newly launched direct-to-merchant acquiring service in Egypt to boost digital payment acceptance in the region
networkpay promises merchants reliable, efficient, and user-friendly payment services
Over 500 merchants already onboard
Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, is committed to promoting financial inclusion and greater digital payment penetration in Egypt, through the launch of its new ‘direct-to-merchant' service offering, under its new networkpay brand.
The networkpay service simplifies payments for merchants, enabling them to accept electronic payments through different channels including both physical and digital, providing a fast, secure, and convenient way to make transactions.
The new payment solution includes a full suite of services including POS, E-commerce and softPOS, and provides additional services like equal payment plans with banks, and loyalty programmes with Fintechs including ZEAL and ValU. The service designed to make payments faster and easier for SMEs also offers a high level of security, with robust encryption and authentication protocols, ensuring it is safe and reliable for users.
In line with Network International’s aim of providing innovative payments services accessible to a wide range of users, including the unbanked, the offering is designed to be user friendly and intuitive, with simple onboarding and payment processes. Committed to continuous innovation and improvement, with a focus on delivering new and enhanced features to the payment service, networkpay offers users a range of new features and functionalities that further enhance the payment experience over time.
Andrew Key, Group Managing Director - Acquiring at Network International, commented: “With attractive demographics and a growing addressable market for digital payments, Egypt is a key growth accelerator for Network. Over the years we have established ourselves as a leading acquirer in the UAE and Jordan, and we are quickly expanding our expertise to the Egyptian market as well. It is our endeavor to tap into the growth opportunity the country presents, whilst supporting the Central Bank of Egypt’s (CBE) strategy towards turning into a cashless economy and Egypt Vision 2030.”
He added, “As a brand that cares deeply about driving financial inclusion in developing markets, we are looking to empower Egyptian merchants while delivering the benefits of convenience, increased security and accessibility.”
Ahmed Samir, Regional Managing Director- Acquiring, Egypt at Network International, added: “We are delighted at the overwhelming response we have received for our new payment services in Egypt in such a short span of time. We already have more than 500 merchants onboard using 700+ terminals. Network has been at the forefront of driving digital payments acceptance and broader financial inclusion in Africa and with the introduction of networkpay we strive to provide a significant boost to Egypt’s economy by making payments more accessible to all.”