Digital Transformation News

Network International to Invest 1 billion EGP in digital payment sector in Egypt

Network International

Network will further enhance its state-of-the-art payment technology and capabilities in Egypt to accelerate the transition from cash to digital payments. The investment will support the country’s remarkable progress in financial inclusion objectives and accelerate GDP growth. A significant share of investment will be centred on procuring, deploying, and maintaining approximately 100,000 innovative Point-of-Sale (POS) machines, propelling the future of digital payments in Egypt. The remaining portion will be channelled into the implementation and seamless operation of Network One, Network’s cutting-edge payments technology platform.

“This investment underlines our continued commitment to bringing innovative payments solutions to Egyptian businesses.” 

Nandan Mer, Group CEO, Network International

Nandan Mer, Group CEO of Network International, said, “This investment underlines our continued commitment to bringing innovative payments solutions to Egyptian businesses. Our presence in the Egyptian economy spans over two decades, during which we’ve served numerous banks and financial institutions. The investment goes beyond monetary value – our focus includes continuing to hire and develop local talent and leadership. Egypt has been our Africa headquarters for many years and our 700+ Egyptian colleagues serve 160+ banks across Africa and 65 banks in Middle East”.

Dr. Reda Helal, Group Managing Director – Processing, Africa said, “Our expertise has not only positioned us as a key partner to most banks but has also enabled us to support the merchant community in Egypt. Aligning with Egypt’s financial inclusion journey, we are making digital payment acceptance economically feasible for many small merchants through low-cost payment acceptance solutions. The Egyptian government has been implementing a robust strategy to accelerate digital transformation objectives. Network is at the forefront of this transformation, aligning with the nation’s 2030 agenda”.

Related posts

AVEVA Launches CONNECT at Hannover Messe

Enterprise IT World MEA

Huawei Cloud Showcases Simplified Cloud Native Security Solutions at GISEC Global 2024

Enterprise IT World MEA

Veeam Strengthens Support for Ransomware

Enterprise IT World MEA

Leave a Comment