Emirates NBD, Network International launch Emirates NBD Pay

Emirates NBD has launched Emirates NBD Pay. Launched in collaboration with Network International, Emirates NBD Pay will offer card acceptance solutions to the bank’s existing and potential institutional banking clients in the UAE.

Emirates NBD Pay will enable clients to accept card payments across multiple channels including point of sale (POS) machines, payment gateway, Pay By Link, unified commerce, soft POS along with unattended kiosks.

The bank will also offer value-added services including buy-now-pay-later (BNPL), attractive POS lending solutions for Network International merchants, business-to-business payments, and sector-specific integrated payment acceptance solutions for select clients, along with additional services such as easy payment plan (EPP) on POS, instant loyalty points redemption and dynamic currency conversion (DCC).

Ahmed Al Qassim, SVP and group head, Corporate and Institutional Banking at Emirates NBD, said: “As a leading bank in the region, we are constantly working towards empowering businesses to succeed in a rapidly evolving digital environment. 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. We are confident that our collaboration with a market leader like Network International, holding a solid track record in reliable and secure acquirer processing services, will help us offer our clients a superior value proposition.”

He added, “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 vision to become a cashless economy.”

Nandan Mer, group CEO, Network International, said, “Emirates NBD has been a long-standing and major client and we are delighted to be their partner of choice as they expand their service offering in the payments space. 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.”

In other news, Dubai-based lender Emirates NBD reported Dhs9.1bn in net profit for the first nine months of the year, increasing 25 per cent year-on-year. Meanwhile, its Q3 profit stood at Dhs3.8bn, up 51 per cent year-on-year.

Read: Emirates NBD reports 25% rise in net profit for first nine months of 2022