Wema, Network International renew card portfolio agreement

WEMA Bank Plc has renewed its long-term business agreement with Network International, an enabler of digital commerce across Africa and the Middle East.

Building on their long-term relationship, Network International will be helping Wema Bank increase its card issuing capacity as well as support its ATM processing capabilities in Africa.

The two companies in a joint press statement said the agreement underlined their shared commitment to further the adoption of digital payments and support emerging markets’ transition to a cashless economy.

The Head, e-Business & Payments, Wema Bank, Damola Bolodeoku, said Network International had been a partner of the bank for some time for processing, card portfolio management and acquirer processing.

He said, “We have enjoyed the professionalism of the organisation as well as its adherence to international standards and specifications.

“Network-processed Mastercard cards are issued and delivered at no cost through Alat (by Wema), Africa’s first digital bank, and that partnership has blossomed over the last 48 months with well over 500,000 cards issued through Network’s support.”

The Regional President, Network International’s Northern and sub-Saharan Africa, Hany Fekry, said, “Network International already enjoys a long-term, successful relationship with Wema Bank, having helped the bank deliver many innovative products to their customers over the years.

“The expansion of our agreement is also a testament to the confidence the bank has in our best-in-class solutions and technical expertise. We are delighted to strengthen our alliance with Wema Bank, with the common goal of achieving increased digital adoption and improved customer experience in the African market.”

Wema Bank said the collaboration would provide access to Network International’s advanced digital infrastructure, allowing it to better meet its customers’ payment and card needs in Africa.