Dubai: Commercial Bank of Dubai (CBD) and Network International, the leading payment solutions provider in the Middle East and Africa, recently signed an agreement to provide Network International’s bespoke acquiring processing solutions to CBD’s wholesale banking clients.
The agreement was signed by Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai, and Simon Haslam, Group Chief Executive Officer of Network International, during a ceremony held recently in Dubai, in the presence of senior management from both organizations.
With this partnership, CBD’s wholesale banking clients will benefit from Network International’s best-in-class payments technology, acquiring processing expertise, and Point-of-Sale (POS) services.
Speaking on the significance of the partnership, Dr. Bernd van Linder, said, "We are very proud to partner with Network International to offer POS solutions to our key wholesale banking clients. As one of the leading banks in providing cash management solutions in the UAE, we are always looking to add value and offer bespoke services to our existing clients and adding POS services to our current payments and cash management offering will be a great value addition for our clients.”
Samer Soliman, Managing Director – Middle East, Network International, said “We are delighted to have been chosen by CBD, one of the leading commercial banks in the country, to boost their acquiring processing capabilities. Network International has gained in reputation as the UAE’s largest acquirer and we are confident that CBD’s wholesale banking clients will benefit from our expertise and experience in providing bespoke payment solutions that integrate cost-effectiveness, compliance, and process efficiency.”
Commercial Bank of Dubai is recognized as one of the leading banks in the UAE in cash management solutions and is always at the forefront in bringing banking innovations to the market. CBD was recognized as the ‘Best Cash Management’ Bank in the UAE, by Banker Middle East in 2017 and 2018.
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About Commercial Bank of Dubai:
Commercial Bank of Dubai was established in 1969 and is registered as a Public Shareholding Company (PSC). The Bank is listed on the Dubai Financial Market and is fully owned by UAE Nationals, including 20% by the Investment Corporation of Dubai (ICD). Over the years, Commercial Bank of Dubai has built itself into a progressive and modern Banking institution, endowed with a strong financial structure and strong management, as well as a loyal and ever-increasing customer and correspondent base. Today CBD is one of the leading banks in the United Arab Emirates and offers its customers a full range of retail and commercial banking products and services.
For additional information, contact Mr. Sandeep Poduval Shivram, Head of Marketing, Commercial Bank of Dubai on 04 – 2121899 or email sandeep.poduval@cbd.ae.
About Network International:
Established in 1994, Network International LLC is the largest acquirer in the UAE, and a leading payment solutions provider in the Middle East and Africa region (MEA), servicing more than 70,000 merchants and 200 financial institutions across 55 countries. The company’s service offering comprises a comprehensive range of payment products and services for both the Issuing and Acquiring segments of banks, financial institutions and retail merchants including end-to-end consultancy ranging from planning and designing to developing of new card and consumer finance products and services. In addition, the company offers several value-add products including data analytics, scoring and loyalty solutions. Network International has Operation centers in the UAE, Egypt, Jordan, South Africa and Nigeria, with its corporate head office in Dubai. The company recently acquired Emerging Markets Payments Holdings Limited (EMPH) and continues to invest in strategic partnerships that will increasingly see its influence spread across the region.
As the first independent vendor certified by both Visa & MasterCard for card payments in the Middle East, Network International is a Principal Member of Visa International and MasterCard International in the UAE and enjoys extension of its MasterCard License in other key countries. It is also a member of JCB and Union Pay card schemes, and it owns and manages the Diners Club International Franchise in the UAE, Egypt, Lebanon and Jordan. The company also launched a GCC-based domestic scheme, Mercury, and partnered with Discover Financial Services (DFS) to allow global acceptance of Mercury cards on the Discover, Diners Club International and PULSE networks. Network International is a Payment Card Industry Data Security Standard (PCI DSS) certified company.
For further information on Network International, please contact:
Tricia Kaul
ASDA’A Burson-Marsteller
Dubai, UAE
Tel: 971-4-4507600 Fax: 971-4-4358040
Email: tricia.kaul@bm.com
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