RAKBANK and Network International Complete Strategic Merchant Acquiring Deal in the UAE

RAKBANK and Network International have successfully completed a strategic merchant acquiring transaction following regulatory approval from the Central Bank of the UAE. The agreement marks a significant step in strengthening digital payment capabilities for businesses across the United Arab Emirates.

Under the partnership, Network International will directly provide payment processing and merchant acquiring services to RAKBANK’s customer base, which includes small and medium-sized enterprises (SMEs) as well as large corporate clients. The move is intended to enhance digital commerce capabilities and support the UAE’s broader digital economy initiatives.

Strengthening Merchant Payment Infrastructure

As part of the agreement, Network International will offer a range of advanced payment solutions and value-added services to merchants. The partnership aims to help businesses adopt modern digital payment technologies, improve transaction efficiency, and support the growth of digital commerce across the region.

The deal also strengthens Network International’s position in the Middle East’s rapidly expanding fintech and payments market, particularly in Ras Al Khaimah, where demand for digital commerce solutions is increasing alongside economic development.

Seamless Transition for Existing Merchants

Both organizations stated that they will work closely with existing merchants to ensure a smooth transition to the new payment platform. The goal is to ensure uninterrupted payment services while providing merchants access to enhanced digital tools and infrastructure.

The partnership reflects a long-term commitment by both companies to improve domestic payment infrastructure, drive technological innovation, and support business growth across the UAE.

RAKBANK’s Strategic Focus

Despite transferring its merchant acquiring operations, RAKBANK confirmed that it maintains a strong financial position with solid capital and liquidity levels. The bank stated that the partnership allows it to focus on its broader strategy of operating as a digital-first bank while continuing to support its customers and invest in future growth initiatives.