Leading digital payment solutions provider Network International reports strong strategic delivery and record merchant wins with Q4 2022 revenue up 13% y/y

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Egypt
  • Date: 25-Jan-2023
  • Source: Zawya
  • Sector:Technology
  • Country:Egypt
  • Who else needs to know?

Leading digital payment solutions provider Network International reports strong strategic delivery and record merchant wins with Q4 2022 revenue up 13% y/y

The company, which operates across Africa and the Middle East, has seen strong underlying growth in payment transactions with an increase in merchant solutions growth acceleration vs pre-pandemic during Q4 2022; successfully launched direct-to-merchant services in Egypt, with the first Small and medium-sized enterprises (SME) merchants onboarded and transacting through Network’s point-of-sale terminals; figures include growth for DPO Group, acquired by Network International (www.Network.ae) in 2021, whose new capabilities continue to diversify merchant reach across sectors.

Network International Holdings Plc, Q4 2022 trading update Network International has announced a 13% increase in year-on-year revenue for Q4 2022. The business, comprised of a group of companies, is a leading enabler of digital commerce across the Middle East and Africa, providing a full suite of technology-enabled payment solutions to merchants and financial institutions of all types and sizes.

Nandan Mer, Chief Executive Officer, commented: “We ended 2022 in a position of strength, having set out a refreshed strategy and delivering on several key commitments, including revenue growth acceleration and financial results in-line with guidance. In the merchant business we saw a record number of wins alongside new capability launches. The successful acquisition of DPO in Africa has doubled our e-commerce merchant revenues, added alternative

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