Network International said that by deploying its flagship Network One platform on Nigerian soil, it aligned with the Central Bank of Nigeria’s directive for in-country transaction routing, enhancing its local processing capabilities.

“The integrated platform provides banks, FIs, and fintechs with a comprehensive range of payment products and services locally in Nigeria for both issuers and acquirers. The suite is complemented by a variety of value-added services such as digital, loyalty, tokenisation, enterprise fraud prevention, embedded finance data and advisory solutions and many more. Network International is strategically investing in rolling out the platform in key markets to effectively serve its local and regional clients and partners across the MEA region,” the statement partly read.

In comments on the launch, the Group Chief Executive Officer, of Network International, Nandan Mer, said, “This major milestone took us only a few months to deploy thanks to a local team that worked tirelessly and seamlessly with cross-functional colleagues in various geographies to ensure we deliver on Network One’s promise of innovation, resilience, and agility. Taking Network One live in Nigeria is integral to our company’s continued commitment to the country and the continent.

“Network One’s successful touchdown in Nigeria embodies our ambition to establish ourselves as a company that is authentically local in the African markets we serve.”

As the fourth largest GDP in Africa with strong consumer spending, Nigeria is ripe for a digital payments boom. The company highlighted that transaction value in the domestic digital payments market is projected to reach $21.32bn in 2024, with an annual growth rate (CAGR 2024-2028) of 10.06 per cent projected to reach a total amount of $31.28bn by 2028

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