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FinancialNews
04-04-21
UAE-based digital payment processor expands into Saudi Arabia in 2021
(MENAFN)Network International is improving with its growth into Saudi Arabia the current year, once pandemic-related restrictions are facilitated.
Arab News quoted Nandan Mer, Group CEO at Network International as saying that “We remain excited by the opportunity in Saudi Arabia, which is one of the largest payments markets in the MEA (Middle East and Africa) region.”
He further stated that “Saudi Arabia remains an important future growth accelerator for the business and, we believe, could become our second largest market over time. We intend to progress with our market entry as soon as border restrictions ease and when more normal circumstances resume.”
Network International listed on the London Stock Exchange in 2019, with a valuation of £2.2 billion (USD3.04 billion). The same year, global payments giant MasterCard devoted 300 million in the company and turned into one of its main shareholders.
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