Complex Made Simple

Network International expects online payment in UAE to grow by ten per cent

Company’s share in e-payments and platforms is roughly 60 per cent

Abdulla Qassem, chairman of Network International, expected online payments in the UAE to grow by ten per cent over the next year.

Qassem said that this is in line with the Smart City initiative envisioned by the UAE leadership and is due to the success of the government’s strategy in implementing the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, to provide a world-class Smart government.

Qassem predicted the growth of Network International’s revenues by at least 20 per cent in 2016, pointing out that the acquisition of two American investment companies and a 49 per cent stake in Abraaj Capital supports its plans to grow and expand through new markets in the Middle East, Africa and Eastern Europe during 2016.

Network International’s share in online payment gateways and platforms is roughly 60 per cent and the company deals with approximately 17 banks in processing nearly two-thirds of the number of payments in the UAE.