Network International has partnered with fintech Souhoola to equip merchants with Buy Now, Pay Later (BNPL) capability on the networkpay POSs in Egypt. In 2023, Network International launched networkpay, it’s direct-to-merchant service in Egypt to offer various channels of acceptance including face-to-face payments, digital payments, and online payments, serving 2,500 merchants in the region so far, while Souhoola has over 130,000 users and a network of more than 1,600 merchant partners.

Using Souhoola’s BNPL option on networkpay POS devices, customers can conveniently split their payments into highly flexible instalments of up to 60 months to purchase electronics, furniture, automobiles, and even pay school fees. Officials from Network International said that by partnering with Souhoola, they’re not just facilitating seamless digital payments, they are also accelerating financial inclusion. This partnership aims to augment merchants and consumers alike and stimulate a more accessible and convenient payment ecosystem in Egypt.

The BNPL landscape in Egypt Incentivised by increased consumption, the BNPL payment industry has recorded noteworthy progress over the last 12 months in Egypt. BNPL payment adoption is expected to grow steadily, recording a CAGR of 29% during 2023-2028, according to a report by Research and Markets, and BNPL Gross Merchandise Value (GMV) expected to go from USD 1.1 billion in 2022 to USD 6.1 billion by 2028. This partnership between Network International and Souhoola aims to spearhead this growth, advance financial inclusion, and transform the digital payments landscape in Egypt.

What does Network International do? Network International is a digital payments company in the Middle East and Africa. Their purpose is to help businesses and economies grow by simplifying payments and commerce. It operates in 50+ countries serving governments, banks, fintechs, merchants, and public sector companies.

The company has over 2,000 digital payments experts based in its markets serving over 200 financial institutions and over 120,000+ merchants. More information about Souhoola Souhoola is a company dedicated to providing seamless, technology-driven financial solutions to the Egyptian community. Their mission revolves around achieving greater financial inclusion and enhancing the lives of Egyptians.

With an extensive merchant network comprising over 1600 partners, they offer customers a wide range of choices and options. Whether one’s looking to purchase electronics, furniture, appliances, or even pay school fees, their network has people covered. The company strives to ensure that customers can make their desired purchases with ease and convenience.

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