Network International, a Dubai-based payment services provider, has launched its new digital payment platform, Network One, in Nigeria. This $250 million platform is designed to empower banks, mobile network operators (MNOs), and fintechs across Nigeria and the broader West African region. The launch aligns with the Central Bank of Nigeria’s directive for in-country transaction routing, aiming to enhance local payment processing capabilities.
Network One is an integrated payment suite that offers both merchant and issuer solutions, hosted and supported within Nigeria. The platform employs advanced technologies to provide comprehensive payment processing capabilities, tailored specifically for the Nigerian market.
Network International operates centers in Egypt, South Africa, and Nigeria, with its headquarters in Dubai. The company, which has been in operation for 30 years, is recognized as the largest acquirer in the UAE and a leading enabler of digital commerce in the Middle East and Africa (MEA) region. It reported processing over $59 billion in payment volumes and more than 1.6 billion transactions for over 250 financial institutions.
Nandan Mer, Group CEO of Network International, described the launch as a significant milestone, noting that it was the result of months of development with input from both local and international teams. At the launch event in Lagos, Mer emphasized the potential of government-supported payment initiatives to boost financial inclusion in Nigeria, aiming for a 95% inclusion rate. He highlighted the importance of collaboration between government and industry players to align with policies and regulations to achieve this goal.
Network International emphasized its readiness to collaborate and co-innovate with local banks and mobile network operators, aiming to reach small and medium-sized enterprises and payment experts in Nigeria.
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