|

‘Network International Receives Payment License from Saudi Central Bank to Expand Merchant Acquiring Operations in KSA’

Network International, a leading digital commerce enabler in the Middle East and Africa, has secured a Major Payment Institution (Major PI) license from the Saudi Central Bank (SAMA) in a move that will bolster its merchant acquiring business in the Kingdom of Saudi Arabia.

This significant milestone reflects Network International’s strategic focus on expanding its payment acceptance solutions within the KSA market, the largest in the region. The license empowers Network to offer a comprehensive suite of payment solutions to its regional clients, supporting their growth and expansion in this key business hub.

By fostering collaborative partnerships with merchants, businesses, payment networks, banks, and Fintechs across various sectors, Network International aims to create a dynamic and inclusive payments ecosystem in Saudi Arabia. The company aligns its efforts with Saudi Vision 2030 priorities, particularly in sectors like travel, tourism, and entertainment, where innovative payment solutions can drive growth and efficiency.

Abdulaziz Al-Dahmash, Managing Director – KSA at Network International, expressed gratitude to SAMA for the opportunity to contribute to the Kingdom’s evolving payments landscape. Network’s robust acquiring solutions cater to businesses of all sizes, from high-volume retailers to individual entrepreneurs and SMEs. The company’s collaboration with the government further supports an environment conducive to financial services innovation.

With a focus on accelerating Saudi Arabia’s digital transformation, Network International aims to achieve ambitious goals by 2030, including promoting innovation, reducing cash reliance through digital transactions, and fostering economic diversification. Leveraging its regional expertise, the company will play a vital role in advancing financial inclusion through secure and robust payment solutions for merchants and businesses in Saudi Arabia.

Network International, as the largest digital payments company in the Middle East and Africa, operates in over 50 countries, serving governments, banks, fintechs, merchants, and public sector companies. With a team of over 2,000 digital payments experts, the company is committed to simplifying payments and commerce to help businesses and economies thrive.

Similar Posts