RAKBANK and Network International sign MOU to further support merchants

RAKBANK announced the signing of a Memorandum of Understanding (MoU) with Network International (NI), the leading payment solutions provider in the Middle East and Africa (MEA), in order to reach an agreement to provide merchants seamless access to NI‘s POS and payment gateway products. With this partnership, UAE merchants will have speedier and more direct access to POS machines, payment gateways, and competitive financing options. In addition, the agreement facilitates that the two parties will cooperate and benefit from each other’s networks, customers, systems, techniques and expertise for the purpose of enhancing customers’ experience.

The MoU was recently signed at GITEX Technology Week in Dubai World Trade Centre. Peter England, RAKBANK Chief Executive Officer, and Bhairav Trivedi, Network International Group Chief Executive Officer, along with Dhiraj Kunwar, RAKBANK Director of Business Banking, and Samer Soliman, Managing Director – Group Acquiring of Network International, attended the signing ceremony.  

Peter England, CEO of RAKBANK, said: “As a prominent bank in the SME space, we are always looking to bring our valued customers added choice and convenience. Our partnership with Network International gives us the opportunity to support customers by offering them convenient business banking solutions and provide easy access to POS and e-payment gateways for their businesses.” 

Bhairav Trivedi, Group CEO of Network International, said: “As the leading provider of innovative payment solutions in the region, Network International is delighted to sign a strategic agreement with RAKBANK that will support the UAE merchant’s business needs. SMEs remain the backbone of our economy and our offering of state-of-the-art POS and e-payment gateways combined with RAKBANK’s financing solutions, will provide enhanced support to this merchant base.”