Middle East to Have Fastest Growth Rate for Payment Cards

Network International hosted 7th annual User Conference for partners in New Delhi

The Middle East and Africa region is projected to post the fastest growth rate for payment cards during the next few years leading up to 2017, according to Abdulla Qassem, Chairman – Network International a leading payment solutions provider in the Middle East.

“The Middle East and Africa markets are teeming with opportunities, and as the payment infrastructure becomes more developed, we believe the region will witness the fastest growth rate for charge, credit and debit cards across the 2012-2017 period,” said Qassem. “As customers demand ingenious and convenient payment technologies that also offer the highest level of security, we believe the next level of innovation will be in the areas of mobile payments and e-commerce.”

The need for continuing innovation in payment solutions was the main focus of discussions at the three day event held in New Delhi, India, under the theme, “Gateway to Innovation.”

Network International also took the opportunity to update its partners about the company’s achievements in 2013. Bhairav Trivedi, Chief Executive Officer, Network International, said, “In the last three years, we have doubled the volume of transactions processed, and have reached almost 400 million transactions in 2013, amounting to AED 70 billion in volume. The high point was when we successfully completed over 2 million transactions in a single day, with several instances of over 100 transactions per second.”