AFRICA APAC EUROPE MIDDLE EAST NORTH AMERICA

Network International has said that its state-of-the-art cloud-based , integrated payment suite for merchants , banks , FinTechs and mobile network operators ( MNOs ) will be hosted and operated in South Africa from June 2023 . The new digital payments platform is highly configurable and customisable . It currently processes over four million transactions per day and over US $ 60 billion of digital transactions a year .

“ Network International ’ s digital payments technology is already deployed and trusted by over 200 banks , FinTechs and MNOs across the Middle East and

Africa . What we are doing now is bringing Southern Africa its very own on-soil cloud hosted version . Having technology customised to meet the growing demand from a broad segment of South African customers and plugging directly into BankServ , Visa and Mastercard locally has been warmly welcomed by existing Southern African clients and has already secured significant interest from potential clients in the retail , banking , FinTech and telco space . The strategic decision to invest significantly in on-soil processing capability is in support of the ever-growing need for localisation and the directives of the Reserve Bank of South Africa ,” said Chris Wood , Regional Managing Director , Southern Africa at Network International .

In 2021 , the South African Reserve Bank published a requirement that all transaction data in the payments ecosystem should be processed and stored , within the borders of South Africa . Network International supports this decision and has reaffirmed its commitment to serving South Africa by deploying its capabilities in South Africa .

“ With our state-of-the-art digital payments technology built , hosted and maintained locally we will accelerate building new products that are relevant for South Africa . More importantly , our clients ’ customisation needs will get immediate attention . This gives us the edge over our competitors , most of whom have yet to , or may not , make the same commitment ,” said Wood .

The Network ' s digital payments platform has at its core a global leading card management system ( CMS ) for issuing clients to manage and host card credentials , and Network ’ s ‘ Ngenius ’ acquirer processing capability for a broad range of merchant services , whether e-commerce or in stores . The API-rich interfaces are designed for speed and flexibility , allowing clients to quickly and easily integrate into its core capabilities and bolt on third party partners across a range of services . The platform will be hosted in South Africa on Amazon ’ s new installation of its Africa AWS .

“ We see the Network South Africa platform investment as an important strategic step forward in becoming a truly local provider . Our clients can look forward to continued innovation as the Network South Africa platform continues to evolve . Already able to process more than 3,000 transactions per second , it is a resilient , secure and agile platform to help banks , FinTechs , telcos and retailers provide market-leading products and experiences in a low risk and compliant technology environment ,” said Wood . x

www . intelligentcxo . com

55