Founded in 1994, Network International LLC is the UAE`s largest acquirer and a leading provider of payment solutions in the Middle East and Africa (MEA) that serves more than 70,000 merchants and 200 financial institutions in more than 70 countries. The company`s service offering includes a full range of payment products and services for the issuance and acquisition segments of banks, financial institutions and retailers, including end-to-end advice, ranging from design and design to the development of new card and consumer financing products and services. The company also offers several value-added products, including data analytics, rating and loyalty solutions. Network International has operational centres in the United Arab Emirates, Egypt, Jordan, South Africa and India, headquartered in Dubai. The company recently acquired Emerging Markets Payments Holdings Limited (EMPH) and continues to invest in strategic partnerships that will increasingly expand its influence throughout the region. As the first independent provider certified by both Visa and MasterCard for card payments in the Middle East, Network International Principal is a member of Visa International and MasterCard International in the United Arab Emirates and benefits from the renewal of its MasterCard license in other major countries. He is also a member of the JCB and Union Pay Card systems and owns and manages the Diners Club International franchise in the United Arab Emirates, Egypt, Lebanon and Jordan. The company also launched a service system based at CCG, Mercury, and collaborated with Discover Financial Services (DFS) to enable global acceptance of Mercury cards in the Discover, Diners Club International and PULSE networks. Network International is a certified payment data security industry (PCI DSS) company. The expanded agreement follows Network`s announcement last year of a five-year contract extension, which provides services to Emirates NBD and Emirates Islamic for issuer solutions. Suvo Sarkar, Senior Executive Vice President and Head-Retail Banking and Wealth Management, said: "We are pleased to extend our agreement with Network International as we continue to strengthen our long-term relationships on several fronts.
As the leading card issuer in the United Arab Emirates, we rely on Network`s unprecedented know-how and experience in providing market-leading payment products that support our promises of value and our offering to customers. Network has been an essential part of the seamless operation of our card portfolio, and we look forward to continuing our rewarding relationship. In addition to existing commercial agreements, Emirates NBD is still a shareholder in Network International, after the payment company was listed on the London Stock Exchange at $1.4 billion in April 2019. Network International has agreed to extend its common services agreement with Emirates NBD. With the renewal of the contract, Emirates NBD, the largest bank in the Middle East and North Africa (MENAT), will strengthen its long-standing relationship by continuing to offer some common services such as data hosting and financial services, as well as HR support to the Dubai-based payment company. "Planet Payment is pleased to extend our long-standing partnership with Network International," said Carl J. Williams, Managing Director of Planet Payment. "Pay in Your Currency is an optimal solution for merchants in the United Arab Emirates, where International Network traders can offer an increasing number of tourists the opportunity to pay in the currency they know best – their own." This major announcement of collaboration follows a comprehensive set of mutual agreements between Network International and Tencent Holdings Limited, the official developer of WeChat Pay.