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Network Intnl Hldgs (NETW)

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Monday 24 February, 2020

Network Intnl Hldgs

Network Int. to power WeChat Pay in the UAE

RNS Number : 8872D
Network International Holdings PLC
24 February 2020
 

 

Press Release

 

Network International to power WeChat Pay in the UAE

 

 

Dubai, 24 Feb 2020: Following an agreement between Network International, the leading enabler of digital commerce across the Middle East and Africa (MEA) region and Tencent Holdings Limited, official developer of WeChat Pay, the mobile payment service will soon be widely available to Network's merchant partners across the UAE.

 

WeChat Pay is a mobile payment service embedded in WeChat, the popular Chinese social messaging service that boasts more than 1 billion users registered globally. The collaboration will enable millions of Chinese tourists to transact seamlessly, safely and securely with Network International's extensive merchant network in UAE via their WeChat mobile wallet.

 

" We are excited to work with Tencent Holdings to offer WeChat Pay to our clients across the UAE. Our agreement brings an incredible opportunity to the UAE's retail and hospitality sectors, helping them cater to the growing demand from Chinese visitors," said Paul Clarke, Group Head of Product & Innovation, Network International. " As a market leader in end-to-end payment solutions, we are delighted to enable our network of merchant partners in the UAE to keep pace with new technologies, offering them a competitive edge."

 

Network International, the UAE's largest merchant acquirer, is committed to technology innovation and partnerships aimed at enhancing the UAE's retail economy. The company will act as both settlement partner (acquirer) and solution provider to enable mobile-based transactions via WeChat Pay at points of sale and for online purchases.  

 

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About Network International:


Network International comprises of a group of companies and is the leading enabler of digital commerce across the Middle East and Africa (MEA) region, providing a full suite of technology-enabled payments solutions to merchants and financial institutions of all types and sizes, including acquiring and processing services and a comprehensive ever-evolving range of value-added services.

Network International Holdings Plc is the holding company for Network International and the group companies.

 

 

Enquiries:

 

Network International

Tel: +971 (0) 4 303 2435

Rohit Malhotra, Chief Financial Officer

 

 

 

Finsbury

Tel: +44 (0) 207 251 3801

Analysts & Investors

 

Andy Parnis, Ed Treadwell

 

 

 

Media

 

James Leviton, Angy Knill

 

 

 

 

 

 


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