Business

RAKBANK and Network International have successfully completed their merchant acquiring transaction in the UAE, marking a significant step in their previously announced strategic partnership.

The deal, first revealed in November 2025, has now officially closed after securing all necessary approvals from the Central Bank of the UAE. The completion strengthens both entities’ positions within the region’s rapidly evolving payments and fintech ecosystem.

As part of the agreement, Network International will deliver its advanced payment solutions to serve RAKBANK’s customers, including small and medium-sized enterprises (SMEs) and large corporates. The collaboration is designed to enhance digital payment capabilities while supporting businesses in adapting to the growing demand for digital commerce solutions.

In addition to core payment services, Network International will introduce innovative value-added services, aimed at empowering the SME sector and contributing to the UAE’s broader Digital Economy Strategy. The partnership also enables expanded service offerings in Ras Al Khaimah, an emirate experiencing notable economic growth and increasing demand for modern financial infrastructure.

Both organizations confirmed they will work closely with existing merchants to ensure a seamless transition to the new platform, providing access to enhanced tools and technologies that support business scalability and efficiency.

The completion of this transaction underscores a shared commitment to driving innovation, enhancing payment capabilities, and supporting the continued growth of businesses across the UAE.

Meanwhile, RAKBANK highlighted its strong financial position, maintaining one of the highest capital and liquidity levels in the UAE banking sector. This stability reinforces the bank’s ability to support customers, invest in future initiatives, and advance its strategy of becoming a digital bank with a human touch.

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