Network International Share News (NETW)

(Sharecast News) - UAE-based payment solutions provider Network International said on Wednesday that it is not currently possible to assess the impact on the business of measures taken by Jordan - its second largest market - in response to the Covid-19 outbreak.
The measures, which were announced on Tuesday and will remain in place for two weeks, include a suspension of working hours for all public and private sector employees, except for those in certain vital roles. This includes Network International as the operator of the local payment switch.

They also include the prevention of gatherings of more than 10 people and the suspension of mass transport. In addition, the Jordanian government urged people to self-isolate in their homes, except for serious or urgent cases of infection.

Jordan contributed 9% of revenue in 2019 and is one of two markets where Network is a direct merchant acquirer.

"Network International is not able to currently assess the extent to which these measures will impact its trading and financial performance in Jordan" it said. "The company will continue to closely monitor the situation and provide further updates when appropriate."