Network International announces support for SMEs


March 25, 2020 | By RetailME Bureau

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.

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Sunil Kumar, CEO, Spinneys

Starting as a shelf packer in 1994, Sunil Kumar saw his way 

Continue Reading

October 29, 2024 | By RetailME Bureau
Sunil Kumar and Debashish Mukherjee at MRF 2024

What does it take to sustain profitable growth in the post-IPO phase? 

Continue Reading

October 23, 2024 | By Anurima Das

Mahalle began its operations in 2022 as an “Authentic Turkish Grocery in 

Continue Reading

October 7, 2024 | By Anurima Das
Naresh Kumar Bhawnani, Founder & Chairman, West Zone Group

“Retail is a people’s business. When building a retail brand or the 

Continue Reading

October 3, 2024 | By RetailME Bureau
Sunil Kumar, CEO, Spinneys

From being one of the first retailers in Dubai to ban single-use 

Continue Reading

October 1, 2024 | By RetailME Bureau
Walid Shabana, Co-founder & CTO, Rabbit

For starters, Rabbit is a growing e-commerce grocery platform in Egypt always 

Continue Reading

September 30, 2024 | By RetailME Bureau
Arunachalam Palaniappan, CTO, Choithrams

In 2024 grocery retail major Choithrams has achieved several milestones underscoring its 

Continue Reading

September 12, 2024 | By RetailME Bureau
#Topshelftalks session at Food Business Forum 2024

Industry pioneers are embracing a comprehensive strategy that integrates consumer insights, digital 

Continue Reading

July 3, 2024 | By Anurima Das
#EdgeOfTomorrow session at Food Business Forum 2024

The regional grocery retail market is evolving fast keeping pace with constantly 

Continue Reading

July 3, 2024 | By Rupkatha B
#CartToCouch session at Food Business Forum 2024

If anything, the Middle East market is excited about quick commerce – 

Continue Reading

July 2, 2024 | By Rupkatha B
#EcoEchoes session at Food Business Forum 2024

From ethical and local sourcing to adopting cutting-edge technologies to curb food 

Continue Reading

July 2, 2024 | By Rupkatha B
#ByteSizedBreakthroughs session at Food Business Forum 2024

The regional grocery retail market is becoming more and more diverse, offering 

Continue Reading

July 2, 2024 | By Rupkatha B




Download Images RetailME Magazine