back Back

Emirates NBD partners with Network International to launch Emirates NBD Pay

By Leandra Monteiro

November 25, 2022

  • BNPL
  • Card Payments
  • Digital Lending
Share

Emirates NBD, Network International Emirates NBD, a banking group in the MENAT (Middle East, North Africa and Turkey) region, has expanded its portfolio in the payments space with the launch of Emirates NBD Pay.

Launched in collaboration with Network International, the enabler of digital commerce across the Middle East and Africa (MEA), Emirates NBD Pay will offer card acceptance solutions to the bank’s existing and potential institutional banking clients in the UAE.

Emirates NBD is one of the largest issuing banks in the UAE with one in every four cards issued in the region belonging to the bank. With the growing demand for digital payments in the region, the agreement will support Emirates NBD in providing card acceptance solutions to its existing and potential Institutional Banking clients, whilst reaffirming Network International’s position as the region’s largest end-to-end payment service provider.

Emirates NBD Pay will enable clients to accept card payments across multiple channels including Point of Sale (POS) machines, payment gateway, Pay By Link, unified commerce, soft POS along with unattended kiosks. The bank will also offer value-added services including buy-now-pay-later (BNPL), attractive POS lending solutions for Network International merchants, business-to-business payments, and sector-specific integrated payment acceptance solutions for select clients, along with additional services such as easy payment plan (EPP) on POS, instant loyalty points redemption and dynamic currency conversion (DCC).

Emirates NBD has a long-standing relationship with Network International. This collaboration represents the first extension of the relationship into the merchant acquiring business. The bank has chosen Network International to leverage its expertise in the cards acceptance industry, built on technology and decades-long experience.

Commenting on the announcement, Ahmed Al Qassim, Senior Executive Vice President and Group Head, Corporate and Institutional Banking at Emirates NBD, said, “As a leading bank in the region, we are constantly working towards empowering businesses to succeed in a rapidly evolving digital environment. We are pleased to announce our foray into the merchant acquiring space, further adding to our rich suite of innovative solutions by enabling merchants to enhance their payment acceptance capabilities to meet changing customer expectations. We are confident that our collaboration with a market leader like Network International, holding a solid track record in reliable and secure acquirer processing services, will help us offer our clients a superior value proposition.”

He added, “The UAE payments market is ripe right now and expected to grow rapidly over the next few years, given the strong uptick in digital payment adoption during the pandemic. As a digital-first bank, we see this as a strong market opportunity and look forward to establishing ourselves as a key player, thus complementing our leadership position in the issuing space and supporting the UAE’s vison to become a cashless economy.”

Nandan Mer, Group Chief Executive Officer, Network International, said, “Emirates NBD has been a long-standing and major client and we are delighted to be their partner of choice as they expand their service offering in the payments space. As the preferred partner for more than 200 financial institutions and 150,000 merchants across MEA, we are confident that the bank will benefit from our proven expertise and experience in customised merchant management solutions. As we continue to strengthen our leadership position in the region, we look forward to supporting financial institutions, merchants and consumers when it comes to payments.”

Previous Article

November 25, 2022

OTT Pay partners with Canadian merchants for the holiday season

Read More
Next Article

November 25, 2022

Moss partners with Klarna Kosma to boost European expansion

Read More










IBSi Daily News Analysis

fraud, FinTech

November 25, 2022

BNPL

Why UK FinTechs are investing heavily in APP fraud prevention

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

November 25, 2022

Honeywell launches Honeywell Smart Pay to help merchants meet customer needs

Read More

November 25, 2022

Suresh Viswanathan joins Nationwide as Chief Operating Officer

Read More

November 25, 2022

ZA Bank integrates with Wise to launch ZA Remit

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q3 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022