RAKBANK and Network International have confirmed the successful closure of their strategic merchant acquiring transaction. The deal was officially finalised after receiving all required regulatory approvals from the Central Bank of the UAE.
As part of this comprehensive partnership, Network International will now directly provide its state-of-the-art payment solutions to actively serve RAKBANK’s extensive customer base, which spans both small and medium-sized enterprises (SMEs) and large corporates. This move is designed to further strengthen Network’s position within the region’s rapidly growing payments and broader fintech ecosystem.
Beyond foundational payment processing, Network has committed to offering innovative, value-added services to RAKBANK’s clients. This strategic focus specifically reinforces a shared commitment to empowering the local SME ecosystem and actively supporting the ambitious goals of the UAE’s Digital Economy Strategy.
Furthermore, the acquisition specifically enables Network to effectively serve the growing merchant demand for advanced digital commerce solutions within Ras Al Khaimah. The Emirate is currently poised for significant economic development, making the modernisation of its local merchant infrastructure a key strategic priority.
Seamless transition and future growth
Both RAKBANK and Network International have stated they will work closely alongside existing merchants to ensure a seamless operational transition. This collaborative approach aims to guarantee that businesses have uninterrupted access to the new and significantly enhanced digital solutions that this partnership enables.
According to the official announcement, this milestone fundamentally reflects a shared, long-term commitment between the two entities to enhance domestic payment capabilities, drive technological innovation, and consistently support the continued economic growth of businesses operating across the UAE.
Despite the strategic operational shift regarding its merchant acquiring business, RAKBANK noted that it continues to maintain a highly robust balance sheet, boasting one of the strongest capital and liquidity positions currently found within the UAE banking sector. The bank stated that this financial stability further reinforces its ongoing ability to support its diverse customer base, invest heavily in future growth initiatives, and deliver on its overarching corporate strategy of operating as a “digital bank with a human touch”.
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