Network International and Visa Partner to Bring Visa Installments Solution to UAE Merchants

Network International, a leading digital commerce enabler in the Middle East and Africa (MEA) region, has teamed up with Visa, a global leader in digital payments, to introduce the Visa Installments Solution (VIS) to merchants and issuer clients across the United Arab Emirates (UAE), according to The Fintech Times.

Under this collaboration, Visa credit cardholders will have the option to utilize ‘Visa Installments,’ which will enable them to split their expenditures into smaller, equal payments at UAE merchant partners of Network International, both online and in physical stores.

Network International currently operates more than 160,000 Point-of-Sale (POS) terminals across a diverse range of merchants, including high-end retail, hospitality, electronics, jewelry, and hypermarkets. These businesses stand to gain significantly from this new installment payment solution.

The objective of this partnership is to expand the payment options available to cardholders and create a smoother payment experience for consumers through Visa’s cooperation. Additionally, it is expected to boost merchants’ sales volumes and conversion rates.

This strategic alliance comes at a time when consumers are increasingly seeking installment payment alternatives that align with their financial preferences and requirements. A recent survey conducted by Euromonitor in the UAE revealed that 48 percent of consumers find installment plans help make high-priced items more manageable, while 37 percent believe they assist in dealing with unexpected expenses.

Nandan Mer, Chief Executive Officer at Network International, emphasized the significance of this partnership: «In response to evolving customer needs, we are proud to introduce this new Visa installment solution across merchants and issuers in the UAE. Given our role in the ecosystem, Network International is strongly positioned to bring together the local payments ecosystem – especially banks and merchants – to significantly simplify and enhance the payment experience for consumers.»

Dr. Saeeda Jaffar, Senior Vice President and Group Country Manager for GCC at Visa, also highlighted how the installment solution could benefit the UAE: «We are excited to announce this strategic collaboration with Network International. The demand for installment payment solutions has been rapidly growing in the GCC, especially for large ticket purchases such as home appliances, electronics, jewelry, and flight bookings. We believe that this innovative offering will address the evolving needs of consumers while at the same time driving digital transformation in the market.»

Visa Installments is currently operational in five countries, including Canada, the United States, the United Kingdom, Hong Kong, and Malaysia. In the next five years, Visa aims to enable financial institutions worldwide to revamp their checkout experiences.