ABU DHABI (ALETIHAD)
Network International has announced an agreement to acquire RAKBANK’s merchant acquiring business in the UAE, a move that will bring more than 5,000 merchants into its ecosystem and strengthen its position as one of the region’s leading payments and fintech providers. The transaction is expected to close in early 2026, subject to regulatory approvals.
The acquisition will enable Network to manage over $8 billion in payments volume and serve a customer base that includes more than 80,000 SMEs and large corporates. Under the deal, Network will provide its payment solutions and value-added services to RAKBANK’s diverse client base, supporting the UAE’s Digital Economy Strategy and meeting rising merchant demand for digital commerce solutions, particularly in Ras Al Khaimah.
Group CEO of Network International, Murat Cagri Suzer, said, “Serving businesses in more than 50 countries enables us to continually strengthen our platform and bring world-class solutions to the UAE. With this partnership, we look forward to bringing the best payments technology and data capabilities to RAKBANK’s customers and supporting their growth story. We also see significant upside in Ras Al Khaimah, where economic diversification and pro-business reforms are creating strong momentum, and we aim to be a long-term partner in its development and a catalyst for innovation across the wider UAE and MEA region.”
Group CEO of RAKBANK, Raheel Ahmed, said, “RAKBANK has built a strong and trusted merchant acquiring business over the past six years across the UAE, supported by deep client relationships and a commitment to delivering an awesome customer experience. Our decision to partner with Network International is driven by one clear purpose: to ensure our customers receive best-in-class technology and service. By combining RAKBANK’s relationship strength with the scale and specialist capabilities of a market leader, we can offer merchants more advanced, reliable, and future-ready payment solutions. This partnership reinforces our ambition to create banking that is digital with a human touch and to continue supporting businesses across the country with the high standards they expect from RAKBANK.”
Network will migrate RAKBANK’s acquiring customers onto its platform through a phased transition expected to take six to eight months, with the company emphasising that the process will be seamless and ensure full business continuity for merchants.
The deal further consolidates Network International’s role as a major enabler of payments infrastructure across the Middle East and Africa, where it already supports more than 240,000 merchants and over 250 financial institutions.