Network International Selected to Provide Managed Payment Services to Vodacom’s Financial Services Business

Network International (NI), a digital payments company, has been selected to provide managed payment services for Vodacom Financial and Digital Lifestyle Services, the financial services arm of Vodacom.

Under the agreement, NI will deliver comprehensive omni-channel digital payment solutions, including card issuing, acquirer processing services, transaction switching capabilities, and additional value-added services.

Vodacom Financial and Digital Lifestyle Services focus on three key areas: payments, lending, and insurance.

The partnership will enable merchants to offer a variety of payment devices and accept payments in multiple transaction modes.

Carlo Ricci, co-regional Managing Director of Southern Africa at Network International, highlights the success of Vodacom Financial and Digital Lifestyle Services in providing financial services to previously underserved customers, positively impacting lives and communities across the continent.

Network International remains committed to investing in local and African markets. In January, the company pledged a R500 million investment to deploy its cloud-based integrated payment platform, catering to merchants, banks, fintech firms, and mobile network operators within South Africa’s payments ecosystem.

This strategy aligns with Network International’s vision of facilitating commerce in one of South Africa’s least penetrated payment markets.

Dr. Reda Helal, Group Managing Director of Processing Business, Africa at Network International, emphasizes that their payment-as-a-service offering empowers African banks, telcos, and retailers to undergo significant operational transformations, ensuring competitiveness and long-term sustainability.