{"id":23990,"date":"2023-08-28T14:22:46","date_gmt":"2023-08-28T14:22:46","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=23990"},"modified":"2023-08-28T14:26:19","modified_gmt":"2023-08-28T14:26:19","slug":"network-international-egypt","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2023\/08\/28\/network-international-egypt\/","title":{"rendered":"Network International invests $32 million in Egypt\u2019s digital payments sector"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<span data-preserver-spaces=\"true\"><a href=\"https:\/\/www.meretailnews.com\/2023\/08\/16\/noqodi-and-network-international\/\">Network International<\/a>, a Mea provider of digital payments and commerce solutions, has announced an EGP 1 billion investment to support Egypt\u2019s economic growth with its payment solutions.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The investment aims to contribute to the country\u2019s progress in financial inclusion goals and GDP growth.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Group CEO, Nandan Mer, said: \u201cThis investment demonstrates our ongoing commitment to bringing innovative payment solutions to Egyptian businesses.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">&#8220;We have been serving the Egyptian economy for over two decades, working with numerous banks and financial institutions. The investment is not only monetary \u2013 we also focus on continuing to hire and develop local talent and leadership. Egypt has been our Africa headquarters for many years and our 700 plus Egyptian colleagues serve 160 plus banks across Africa and 65 banks in the Middle East.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">A large part of the investment will be allocated to acquiring, installing, and maintaining about 100,000 advanced point-of-sale machines, which are seen as instrumental for the future of digital payments in Egypt.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The rest of the money will be directed to the implementation and operation of <a href=\"https:\/\/www.network.ae\/en\" target=\"_blank\" rel=\"noopener\">Network<\/a> One, Network\u2019s payments technology platform.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Group managing director of processing, Africa, Reda Helal, said: \u201cOur 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.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">&#8220;In line with Egypt\u2019s financial inclusion journey, we are making digital payment acceptance affordable 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\u2019s 2030 agenda.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Network International to support Egyptian economic growth with an EGP 1 billion investment<\/p>\n","protected":false},"author":40,"featured_media":17548,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[154,1],"tags":[3973,4151],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23990"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=23990"}],"version-history":[{"count":2,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23990\/revisions"}],"predecessor-version":[{"id":23992,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23990\/revisions\/23992"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/17548"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=23990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=23990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=23990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}