Amman, Jordan: Sanadcom Business Finance, one of Jordan’s leading private sector SME lenders, recently signed a strategic cooperation agreement with Network International-Jordan, the leading provider of digital trade support services and payment solutions in the Middle East and Africa, enabling Sanadcom to provide new financing services to merchants, and facilitating the collection of the value of financing installments.
Through the new service, Sanadcom Business Finance will be able to automatically and flexibly deduct installments from merchant sales, made at points-of-sale (POS) devices provided to the merchant by Network, in accordance with the financing terms agreed upon between Sanadcom and the merchant benefiting from the financing. This service will serve the aspirations of the market, and it also contributes to covering the financing gap for the SME sector.
The agreement was signed by Fadi Amireh, CEO of Sanadcom for Business Finance, and Amjad Al-Sadeq, CEO of Network International Jordan, in the presence of several administrators from both sides.
Under this agreement, the two parties will seek to provide new services in the local market, especially in the field of SMEcompanies, which will achieve a competitive advantage for Sanadcom Business Finance and provide a distinguished experience for merchants using Network Jordan’s POS solutions.
Commenting on the signing of the agreement, Amireh said: "We look forward to working with Network Jordan, because of its extensive experience in the field of electronic payments. Through this agreement we will provide products and solutions that help our customers wishing to obtain financing to develop their businesses pay the installments related to that financing in a flexible and easy manner, deducted automatically from daily sales receipts that are made through its points of sale.”
For his part, Al-Sadiq expressed the company’s keenness to cooperate with Sanadcom Business Finance, as it is in line with Network’s strategy that focuses on growth based on acceleration and innovation, which underlies its pursuit of an expanding customer base, as well as providing a range of innovative services and unique and exceptional solutions to serve the business sector and other institutions, including SMEs which today represent an important pillar of the economy in most countries of the world, and constitute more than 90% of institutions operating across various economic sectors.
Al-Sadiq indicated that this cooperation will enable Sanadcom for Business Finance to offer new and distinctive products and services to its list of small and medium-sized enterprise clients, all of which will benefit from Network’s payment processing services, including point-of-sale devices, electronic payment gateways, interactive dashboards, and more. These offer clients time, effort, and cost benefits, as well as valuable insights and information that contribute to managing their business in an efficient manner, allowing SMEs to develop and increase their contribution within their sector and to the economy of their country.