Commercial Bank of Dubai (CBD) has signed an agreement to provide Network International’s acquiring processing solutions to its wholesale banking clients.
Under the collaboration, all wholesale banking clients of CBD can utilise Network International’s payments technology, acquiring processing expertise as well as point-of-sale (POS) services.
CBD CEO Bernd van Linder said: “We are very proud to partner with Network International to offer POS solutions to our key wholesale banking clients.
“As one of the leading banks in providing cash management solutions in the UAE, we are always looking to add value and offer bespoke services to our existing clients and adding POS services to our current payments and cash management offering will be a great value addition for our clients.”
With a corporate head office at Dubai, Network International offers payment solutions across the Middle East and Africa region. The company’s service portfolio includes payment products and services for issuing and acquiring segments of banks, financial institutions, retail merchants as well as consultancy services.
Network International caters to more than 70,000 merchants and 200 financial institutions in 55 countries.
Commenting on the new partnership, Network International Middle East managing director Samer Soliman said: “Network International has gained in reputation as the UAE’s largest acquirer and we are confident that CBD’s wholesale banking clients will benefit from our expertise and experience in providing bespoke payment solutions that integrate cost-effectiveness, compliance, and process efficiency.”