Telecom
Network International Launches its Innovative Network One Payment Platform in Nigeria
FTSE-listed Network International, a trusted payment partner of Nigerian banks, has underscored its commitment to local and regional markets by bringing its innovative award-winning digital payment platform, Network One, on soil in Nigeria.
L-R: Dr. Reda Helal Group, Managing Director, Processing, Africa, Network International; Mrs. Chinwe Uzoho, Regional Managing Director, West and Central Africa, Network International; Mr. Nandan Mer, Group Chief Executive Officer, Network International and Mrs. Lola Agbebiyi, Managing Director, Nigeria, Network International during the media roundtable to announce the launch of Network One Payment Platform in Nigeria on Wednesday, August 7th 2024.
The platform is now ready to onboard and empower banks, MNOs and fintechs in Nigeria and throughout the West African region.
By deploying its flagship Network One platform on soil, Network International aligns with the Central Bank of Nigeria’s directive for in-country transaction routing, enhancing its local processing capabilities.
The integrated platform provides banks, FIs, and fintechs with a comprehensive range of payment products and services locally in Nigeria for both issuers and acquirers.
The suite is complemented by a variety of value-added services such as digital, loyalty, tokenization, enterprise fraud prevention, embedded finance and data and advisory solutions and many more.
Network International is strategically investing in rolling out the platform in key markets to effectively serve its local and regional clients and partners across the MEA region.
Nandan Mer, Group CEO, Network International, said: “This major milestone took us only a few months to deploy thanks to a local team that worked tirelessly and seamlessly with cross-functional colleagues in various geographies to ensure we deliver on Network One’s promise of innovation, resilience, and agility.
“Taking Network One live in Nigeria is integral to our company’s continued commitment to the country and the continent.”
As the fourth-largest GDP in Africa with strong consumer spending, Nigeria is ripe for a digital payments boom. Total transaction value in the domestic digital payments market is projected to reach US$21.32bn in 2024, with an annual growth rate (CAGR 2024-2028) of 10.06% projected to reach a total amount of US$31.28bn by 2028
Domestic deployment good for local and African clients
The Network One platform is an integrated payment suite offering both merchant and issuer solutions, hosted and supported in-country. It relies on a consolidation of best-in-class technologies brought together to provide end-to-end payment processing capabilities in a highly adaptable environment.
Network International is strategically positioning its proprietary technology infrastructure, which is developed, hosted, and maintained on a local level, to cater to the needs of local and regional entities seeking market-relevant digital payment solutions for their consumers.
“Our presence on the ground and comprehension of the specific needs of the local market have enabled us to tailor a solution that is ideally suited for Nigerian enterprises.
“Our capability to establish a hub equipped with all the essential technology not only empowers our clients to enhance their value proposition but also positions Network to effectively contribute to financial inclusion and democratization of payments, addressing the needs of a large population of consumers across the continent,” explained Dr. Reda Helal Group, MD – Processing, Africa and Co-Head Group Processing, Network International
Swift growth of local talent yields significant outcomes
A crucial aspect of Network International’s sustained investment in Nigeria is nurturing an empowered local workforce. By growing local personnel, Network is positioned to collaborate and co-innovate with local banks and mobile network operators, providing proximity to small and medium-sized enterprises and payment experts, right in the heart of their operations.
As a show of its commitment to the transformation of the local entity, the company is firming up its staff complement and will continue to enhance its resources and talents. Network recently marked its move from level 4 BBBEE status (in July 2023) to level 1 a year later as it continues to gain trust among African institutions as a payments partner of choice.
“By recruiting the right talent, we are assured that our teams in Nigeria can achieve quicker results with reduced reliance on our international teams, leading to significant operational benefits for our clients locally and regionally,” Dr. Helal added.
Network International’s investments throughout Africa have led to substantial improvements in economies of scale. Consequently, the company can provide state-of-the-art technology at a lower cost than what companies might incur if developed internally. This affordability, coupled with the technology’s advanced features, appeals to a broad audience and furthers the company’s mission to expedite digital transformation across the continent.
“Network One’s successful touchdown in Nigeria embodies our ambition to establish ourselves as a company that is authentically local in the African markets we serve,” Mer concluded.
Elon Musk’s Starlink satellite internet network faces increased competition, with challenges from China’s state-backed SpaceSail and Amazon founder Jeff Bezos’s Project Kuiper.
SpaceSail, ased in Shanghai, signed an agreement to enter Brazil in November and started work in Kazakhstan in January, with plans to expand to over 30 countries.
Brazil is also negotiating with Project Kuiper and Canada’s Telesat for high-speed satellite internet services.
The yearly LEO satellite launches by the USA, China, Europe, Russia (formerly the USSR), and other countries are contrasted in this graphic through 2024.
Since 2020, Starlink has launched more satellites into low-Earth orbit (LEO) than all competitors combined, providing high-speed internet for remote communities, vessels, and militaries.
Beijing views Musk’s dominance in space as a threat and is heavily investing in rivals and military research to track satellite constellations. Last year, China launched a record 263 LEO satellites.
SpaceSail aims to deploy 648 LEO satellites this year and 15,000 by 2030, forming part of China’s international push into satellite broadband.
This rapid expansion has raised concerns among Western policymakers about Beijing’s potential influence on global digital infrastructure.
Smartcash Payment Service Bank (PSB), a subsidiary of Airtel Nigeria, has been recognised as the Outstanding Payment Service Bank of the Year 2024 (Fintech) at the New Telegraph Awards, reaffirming its continued growth and reach of the PSB within the last year.
The award ceremony, which took place at the Lagos Oriental Hotel recently, celebrated Smartcash PSB’s commitment to providing seamless, secure, and inclusive financial solutions aimed at driving financial inclusion across Nigeria.
During his welcome address, The Managing Director and Editor-in-Chief of New Telegraph Newspapers, Ayodele Aminu, emphasized the need to recognize individuals and organizations who have made significant contributions across various sectors.
“The New Telegraph Awards was in place to identify and assess individuals or organisations who have played a significant impact in politics, governance, industry, and other sectors of life. We believe that acknowledging them will galvanize the awardees towards greater productivity and excellence in their various fields and we look forward to seeing the incredible impact they will continue to make,” he said.
Commenting on the award, Chief Executive Officer, SmartCash PSB, Ayotunde Kuponiyi said, “Receiving the Outstanding PSB of the Year 2024 (Fintech Award) from New Telegraph is a testament to our unwavering commitment to advancing financial inclusion and empowering MSMEs across Nigeria.
At SmartCash PSB, we remain dedicated to bridging the financial gap for underserved communities through innovative and accessible solutions. This recognition strengthens our resolve to drive economic empowerment and sustainable growth for millions of Nigerians.”
CEO of Airtel Nigeria, Dinesh Balsingh, remarked that the award was a reminder to the company of its commitment to excellent customer services. “The recognition by New Telegraph again reminds us as a business to remain dedicated to keeping the customer at the heart of our operations,” he said.
Since its launch, Smartcash PSB has continued to advance the digital payments landscape by offering secure payments, mobile banking solutions, and agent banking services, enabling seamless financial transactions for both urban and underserved communities.
The event had prominent guests in attendance, including former chairman of Nigerian Ports Authority and statesman Chief Bode George who was the chairman of the awards; Dr. Orji Uzor Kalu, publisher of New Telegraph; Mr Festus Keyamo, Minister of Aviation & Aerospace Development; and Senator Adams Oshiomhole, former governor of Edo State; among others.
Association of Telecommunications Companies of Nigeria (ATCON) has raised alarm over a diesel supply crisis caused by an ongoing strike by National Union of Petroleum and Natural Gas Workers (NUPENG).
Tony Emoekpere, president, ATCON in a statement said that the fuel supply disruption is critically affecting telecom base stations, pushing them to the brink of a shutdown and threatening millions of mobile and internet users in the region.
“This strike, which stems from the persistent harassment of tanker and petroleum product drivers by police officers in Lagos State, has effectively halted all truck loading operations and fuel movements,” Emoekpere stated.
He explained that diesel supply to telecom infrastructure has been severely impacted, leaving critical sites with dangerously low fuel levels.
According to him, if urgent measures are not taken, the situation could escalate into a full-blown network blackout, disrupting essential services including mobile and internet access, business operations, emergency response systems, and daily communications.
ATCON has called on the governors of Lagos and Ogun states to intervene immediately by facilitating the release of diesel from depots to telecom operators to prevent further deterioration of the situation.
“This is not just a telecom issue—it is a national emergency that could cripple economic activities and compromise public safety,” Emoekpere stressed.
The association also appealed to security agencies and petroleum unions to resolve the crisis swiftly to safeguard Nigeria’s connectivity and economic stability.
ATCON emphasised that a prolonged disruption in fuel supply to telecom infrastructure could have far-reaching consequences for both businesses and individuals who rely on stable communication networks for daily operations.
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