By Bernd Debusmann Jr
Network International will contribute $1m in cash to 1,000 of its most severely impacted SME clients
UAE-based payment solutions provider Network International has announced AED 5 million ($1.3m) in cash and other relief measures for its merchant partners to help mitigate the impact of the ongoing coronavirus pandemic, the company has announced.
As part of its support initiative, Network International will contribute almost AED 3.7 million ($1m) in cash to 1,000 of its most severely impacted SME clients to help alleviate the pressures that have been brought on by Covid-19, with each of the 1,000 receiving AED 3,673 ($1,000) in cash.
New small business users of its N-Genius Online payment platform will be given zero percent merchant service fees over the next three months to help them enable their business online.
Additionally, minimum transaction fees have been waived for all the company’s clients in the UAE – across all industries – for a three-month period.
“As concerns about 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 the most, with immediate and practical relief measures over the next few months,” said Samer Soliman, managing director for Network International’s Middle East operations.
“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,” Soliman added.