Dubai, UAE : Network International (Network), a leading enabler of digital commerce across the Middle East and Africa, has announced a strategic referral partnership with Zand, the UAE’s first fully digital bank. This collaboration aims to enhance and expand financial services for fintechs and startups across the region, aligning with the UAE’s ambition to become a global fintech hub.
The partnership capitalizes on Network’s extensive expertise in card processing to support Zand’s objective of serving as a digital economic accelerator for fintechs. By enabling BIN (Bank Identification Number) Sponsorship opportunities, the partnership will provide fintechs with access to card schemes and cutting-edge digital financial services. BIN sponsorship, in particular, will empower businesses and fintechs to perform critical functions such as card issuance, furthering their capacity to innovate and grow.
As consumer interest in advanced financial products continues to rise—especially in areas such as end-to-end financial services—this collaboration creates a strong foundation for fintechs to deliver more sophisticated solutions. The UAE remains the most active fintech market in the MENA region, accounting for 51% of investment deals in the sector as of Q1 2023. The UAE government has been instrumental in fostering a vibrant fintech ecosystem built on innovation, collaboration, and regulatory support.
Michael Chan, CEO of Zand, emphasized the significance of the partnership: “Our collaboration with Network International marks a pivotal moment in our mission to revolutionize the financial services landscape in the UAE. By leveraging Network’s vast experience in card processing, we can provide fintechs and startups with the essential tools they need to innovate and grow. This partnership aligns perfectly with our vision of being a catalyst for digital economic growth in the region, and we are excited to drive greater financial inclusion and accessibility through this strategic alliance.”
Navneet Dave, Managing Director & Co-Head of Processing Services – Middle East at Network International, added: “We are thrilled to partner with Zand to transform the fintech landscape in the UAE. As the largest payment processor and acquirer in the region, Network has built strong relationships with many of the leading financial institutions, merchants, and payment networks. Our deep experience and capabilities make us the partner of choice for governments, banks, fintechs, and public sector companies. We are excited to work with Zand to help realize its ambitious objectives.”
Somu Roy, Managing Director of Processing – UAE at Network International, also commented on the collaboration, stating: “We are delighted to support Zand in expanding its footprint in the UAE while empowering fintechs and startups. Network’s expertise will significantly enhance Zand’s ability to deliver comprehensive financial services for its customers.”
This partnership reflects the growing demand for innovative financial solutions in the UAE’s thriving fintech sector, which continues to play a pivotal role in driving digital transformation and economic growth in the region.
About Network International:
Network International is the leading enabler of digital commerce across the Middle East and Africa, providing a full suite of payment solutions to financial institutions, merchants, and government entities.
About Zand:
Zand is the UAE’s first fully digital bank, offering a seamless digital banking experience that empowers individuals and businesses with innovative financial solutions.
