Dubai-based Network International has received its stored value facility (SVF) licence from the Central Bank of the UAE, enabling it to issue stored value products, which includes any non-cash facility through which a customer pre-pays money.

The payment solutions company said in a statement that it can now enable its partners and customers to support prepaid card issuing and wallet provisioning.

(Reporting by Imogen Lillywhite; editing by Brinda Darasha)