Payments company Network International has announced a total of AED5 million in cash and other practical relief measures for merchant partners, in support of the economic stimulus packages announced earlier by UAE’s leadership and UAE Central Bank, to help the nation’s businesses through this unprecedented period of economic uncertainty.
As part of its support, Network International will contribute nearly AED3.7 million in cash to 1,000 of its most severely impacted merchant clients operating in the SME (small and medium enterprise) sector, a key contributor to the national economy and, at this time, among the most vulnerable. The contribution will alleviate financial pressures among the small businesses that have been affected severely by the ongoing COVID-19 pandemic.
“Genuinely caring for the health and safety of our teams, clients and the wider community is at the heart of the decisions we are taking during this time. As concerns around the global COVID-19 pandemic evolve, we recognise that some of our merchant partners have been severely impacted by this extraordinary situation and we are standing by those that need us most, with immediate and practical relief measures over the next few months. Our cash support will offer these businesses much needed liquidity to help relieve the stress on their cash flow so they can carry on operations,” said Samer Soliman, managing director for Network International’s Middle East operations.
“In addition to supporting clients that have been severely impacted, we are also waiving minimum monthly service fees for all merchant clients for the next three months. And, as more people opt to make purchases online we are helping small businesses transition to online payments by waiving Merchant Service Fees for the next three months for new users of N GeniusTM Online, our market leading internet payment gateway,” he added.
Watsons to open 20 new stores in the GCC
In 2020, global health & beauty retailer AS Watson Group signed its
April 29, 2024 | By Rupkatha B / 
The Ministry of Industry and Advanced Technology (MoIAT) in cooperation with Lulu
What does it take to sustain profitable growth in the post-IPO phase?
Mahalle began its operations in 2022 as an “Authentic Turkish Grocery in
“Retail is a people’s business. When building a retail brand or the
From being one of the first retailers in Dubai to ban single-use
For starters, Rabbit is a growing e-commerce grocery platform in Egypt always
In 2024 grocery retail major Choithrams has achieved several milestones underscoring its
Industry pioneers are embracing a comprehensive strategy that integrates consumer insights, digital
The regional grocery retail market is evolving fast keeping pace with constantly
From ethical and local sourcing to adopting cutting-edge technologies to curb food
/ 
The Dubai Duty Free (DDF) has recorded sales of $1.94 billion up
In what comes as a significant announcement, Middle East based eyewear majors
Emirati Gen Z women are seeking collaborative, culturally diverse and creatively enriching
GMG’s Everyday Goods – Retail division celebrates expansion milestone hitting 60 stores
Among several others, three key factors have fuelled the growth of homegrown
Empowering women, transforming communities: The rise of female-led businesses in Times Square Center
In its central Dubai location, Times Square Center stands not just as
One of UAE’s leading fresh food retailers, Spinneys has announced its intention
Acting as a bridge between Brazil and GCC markets offering a compelling
Commonly cited statistics indicate that around 20% of new businesses fail during
Previous Article
