In a significant development, Network International, a key player in enabling digital commerce across the Middle East and Africa, has secured a Major Payment Institution (Major PI) licence from the Saudi Central Bank (SAMA). The move strengthens the company’s presence in the Kingdom and opens new possibilities for digital payments in the region.
Network International has acquired a license as a part of its expansion strategy to offer payment solutions in Saudi Arabia. The company’s move empowers regional clients with payment solutions, capitalizing on the Kingdom’s largest market status in the region.
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Network International to build an inclusive payment ecosystem in Saudi. The company aims to build long-term collaborative partnerships across various sectors, including merchants, businesses, SMEs, payment networks, banks, and Fintechs. The Network aims to facilitate innovative payment pathways in sectors prioritized by Saudi Vision 2030, such as travel, tourism, and entertainment.
Abdulaziz Al-Dahmash, Managing Director – KSA, expressed gratitude to SAMA for the trust placed in Network International. The company is eager to contribute to expanding the payments landscape in the Kingdom, offering tailored solutions for businesses of all sizes.
Network International aligns with Saudi Arabia’s vision to become a global hub for advanced technologies. Network International aims to contribute to the Kingdom’s digital transformation journey by 2030.
This licence from SAMA signifies a regulatory endorsement and a testament to the Network’s dedication to providing merchants and businesses with the solutions needed to thrive in Saudi Arabia’s evolving digital landscape.
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