Font Size

- Aa +

Tue 24 Mar 2020 02:23 PM

Font Size

- Aa +

Network International announces $1.3m relief package for SME merchant partners

Network International will contribute $1m in cash to 1,000 of its most severely impacted SME clients

Network International announces $1.3m relief package for SME merchant partners
Samer Soliman, Managing Director, Middle East at Network International.

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.

Fees waived

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.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.