Riyadh – Mubasher: Network International has obtained a Major Payment Institution (Major PI) licence from the Saudi Central Bank (SAMA) which will endorse merchant acquiring business in the Kingdom.

Major PI licence will further allow Network International to increase the number of its regional clients by offering a wide range of payment solutions in Saudi Arabia, according to a press release.

The digital payment enabler aims to foster strategic financial inclusion objectives within the Kingdom by providing secure, robust payment solutions to all different sizes of merchants and businesses.

Managing Director - KSA, Network International, Abdulaziz Al Dahmash, said: “Network’s robust acquiring solutions are designed to meet the unique needs of every business, from high-volume retailers to individual entrepreneurs and SMEs.”

Al Dahmash added: “Government support further helps to foster an environment that is conducive to innovation in the financial services sector.”

The official concluded: “We are proud to obtain this licence from SAMA and excited to provide merchants and businesses with the solutions and expertise they need to thrive in the evolving digital landscape of Saudi Arabia."

The company recently appointed Jamal Al Nassai as the Group Managing Director for Merchant Services in the MENA region to spearhead strategic planning and execution, business development, and value propositions for both merchant and government partners across the region.

In 2023, Network International unveiled its plans to be SAMA-licensed as well as its goal of reaching 13 clients in the financial sector.