Network International (Network), a Dubai-based payments solutions provider has entered into a partnership with TerraPay, a global payments infrastructure company, to develop and deliver a first-of-its-kind payment solution on an interoperable platform in the UAE.
The partnership with Network, a leading enabler of digital commerce across the Middle East and Africa (MEA) region, will help TerraPay to expand its presence across the thriving Middle Eastern payments market.
As part of the association, the companies will allow a large addressable market from the African mobile wallet ecosystem, to transact across Network’s terminals in the UAE as well as at eCommerce platforms supported by them.
This association will enable TerraPay to leverage Network’s well-entrenched network of merchants and acquirer processing clients in the MEA region, to accept mobile wallets payments using TerraPay’s payment processing rails. This will benefit Network’s clients in the UAE, as well as TerraPay’s global partner networks across Asia, Europe, the US, Africa.
“We are excited about our upcoming association with Network International, in driving mobile wallet acceptance and consumption across multi-channels on Network International’s terminals and eCommerce sites in the UAE. This paves the way to foster financial inclusion and independence for customers, by offering real-time mobile wallet payments, for the very first time in the UAE. Opening up interoperability for mobile wallets is the next big wave in digital payments across the world.”
Mr. Nandan Mer, Group CEO, Network International, said, “Mobile wallets are increasingly gaining popularity as a preferred payment method across the world, and as a market leader in end-to-end payment solutions, we are delighted to collaborate with TerraPay to enable acceptance of mobile wallets across our merchant network in the UAE.”
TerraPay’s collaboration with Network will play a key role in creating sustainable and scalable interoperable payment options to cater to their partners’ and customers’ payment requirements, thereby driving increased usage of mobile wallets and digital currency for digital payments.