UAE-based banking group Emirates NBD has joined forces with local payments company Network International to roll out the digital payment platform Emirates NBD Pay.
The banking group will leverage the partnership to offer card acceptance platforms to its existing as well potential Institutional Banking customers.
Users of the Emirates NBD Pay platform will be able to accept card payments through an array of channels, such as unattended kiosks, POS machines, payment gateways, Pay By Link, unified commerce, soft POS, and Pay By Link.
Emirates NBD will also offer value-added services such as buy-now-pay-later (BNPL) and POS lending solutions for Network International merchants.
It will also offer business-to-business payments and sector-specific integrated payment acceptance solutions for select clients.
Customers will also get access to additional services like easy payment plan (EPP) on POS, instant loyalty points redemption and dynamic currency conversion (DCC), the companies said.
Emirates NBD group head of Corporate and Institutional Banking Ahmed Al Qassim said: “We are pleased to announce our foray into the merchant acquiring space, further adding to our rich suite of innovative solutions by enabling merchants to enhance their payment acceptance capabilities to meet changing customer expectations.
“The UAE payments market is ripe right now and expected to grow rapidly over the next few years, given the strong uptick in digital payment adoption during the pandemic.
“As a digital-first bank, we see this as a strong market opportunity and look forward to establishing ourselves as a key player, thus complementing our leadership position in the issuing space and supporting the UAE’s vison to become a cashless economy.”
Network International group CEO Nandan Mer said: “As the preferred partner for more than 200 financial institutions and 150,000 merchants across MEA, we are confident that the bank will benefit from our proven expertise and experience in customised merchant management solutions.
“As we continue to strengthen our leadership position in the region, we look forward to supporting financial institutions, merchants and consumers when it comes to payments.”