(Alliance News) - Network International Holdings PLC said Monday it has reached an agreement with Chinese internet giant Tencent Holdings Ltd to allow mobile payment service WeChat Pay to be available to Network's merchant partners in the UAE.
WeChat Pay is a service embedded in Chinese social messaging service WeChat.
Network International, which provides payment services in the Middle East and Africa, said the agreement will allow Chinese tourists to conduct transactions safely and seamlessly within the group's merchant network in UAE through their WeChat mobile wallet.
"We are excited to work with Tencent to offer WeChat Pay to our clients across the UAE. Our agreement brings an incredible opportunity to the UAE's retail and hospitality sectors, helping them cater to the growing demand from Chinese visitors," said Paul Clarke, head of Product & Innovation at Network International.
"As a market leader in end-to-end payment solutions, we are delighted to enable our network of merchant partners in the UAE to keep pace with new technologies, offering them a competitive edge," Clarke added.
Shares in Network International were down 3.6% at 617.00 pence on Monday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Network International (NETW)