The Banking Executive Magazine - August 2023 Issue

Fintech company noqodi has collab- orated with Network International to expand digital payments offering that can cover various segments beyond just government and private sector services. The partnership will enable the Dubai-based firm to provide micro, small, and medium enterprises (MSMEs) with access to additional digital payment solutions while driv- ing shared goal of boosting the UAE’s cashless economy, according to a press release. Under the strategic alliance, Net- work will empower emaratech- owned noqodi’s existing payment channels like e-commerce, point of sale (POS), and software point of sale (SoftPOS) to accept card payments. It will further introduce support to new unbanked segments, including retail and commerce. General Manager at noqodi, Zahi Kallab, said: “Together with Net- work, and leveraging noqodi’s unique value proposition, we are committed to supporting MSMEs and simplifying their business operations with accessible and innovative digi- tal payment solutions.” Kallab added: “This alliance rein- forces our dedication to advancing digital payments in line with Dubai’s vision of becoming a fully cashless economy.” The fintech company is currently in- tegrated with different banks and payment options that come under one payment platform for govern- ment and selected private merchants. This includes direct debit, online banking, and cash through partner exchange houses, besides full au- tomation of collections, reconcilia- tion, settlement, and transaction-related services. Group Managing Director – Acquir- ing at Network, Andrew Key, said: “Digital payments are becoming more commonplace in the UAE with businesses of all sizes now shifting toward cashless transactions. Given this, there is a growing need for eas- ily accessible innovative digital pay- ment solutions that help simplify business operations.” Key concluded: “Our partnership fur- ther reaffirms our commitment to boosting digital payments in the re- gion in line with Dubai’s bid to be- come a fully cashless economy.” Recently, Network joined forces with SerVme, a reservation and guest cus- tomer relationship management (CRM) platform for restaurants and hospitality operators, to endorse food and beverage (F&B) merchants in the UAE. the BANKING EXECUTIVE 46 ISSUE 176 AUGUST 2023 DUBAI-BASED NOQODI EXPANDS DIGITAL PAYMENTS THROUGH PARTNERSHIP WITH NETWORK FinTech and AI Chornicle