Rebound in UAE consumer spending boosts Q4 revenue of digital payments giant – ArabianBusiness

Rebound in UAE consumer spending boosts Q4 revenue of digital payments giant – ArabianBusiness

Digital payments giant Network International registered a 30 percent jump in revenues during the fourth quarter of 2021 as consumer spending in the UAE rebounded following the impact of the global pandemic.

The company said the Q4 increase was driven by spending recovery in the UAE and was 6 percent up on pre-pandemic levels, adding that 2021 revenue was ahead of market expectations.

Network International said Q4 was the strongest quarter of the year for the value of both domestic and international consumer payments processed and were above pre-pandemic levels driven by seasonal activities, major sporting events and Expo 2020 Dubai.