Alliance to boost F&B payments in the UAE
Dubai: Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, has announced a strategic partnership with Foodics, the leading cloud-based restaurant management technology and payments platform in the MENA region.
Through this partnership, SMEs in the UAE’s F&B sector will get access to Foodics’ ECR (electronic cash register) and its software platform offering a range of value-added services (VAS) with fully integrated Network International payment terminals, ensuring fast, secure and seamless customer experiences. The integrated payments solution through Network’s POS platform will eliminate manual entry errors at the merchant outlet while improving operational efficiencies. This partnership will particularly benefit thousands of F&B SME owners in the UAE who manage cafes, fast food outlets, food trucks, bakeries, restaurants, etc.
Almost seven out of 10 payment transactions in the Middle East are expected to be non-cash in 2023, as the region catches up with the global trend towards a cashless economy. As the largest merchant acquirer in the UAE, Network International strengthens its role in supporting the F&B sector by implementing a fully integrated, 360° payments ecosystem that enables SMEs to seamlessly manage and facilitate all their payments operations with pioneering end-to-end digitisation, leading to instant, frictionless transactions for customers.
Following its agreement with Foodics, Network will soon offer the Foodics Restaurant Management Solution and Foodics Pay to small and medium F&B outlets in the UAE along with fully integrated Network International payment terminals. The integrated solution will benefit merchants with its unified operations including single receipt and automated reconciliation, daily settlements, claim and chargeback support, merchant portal monitoring and 24/7 technical support. Foodics will enable restaurant customers to order, pay and receive their receipts all at the same time on a single device.
Commenting on the partnership, Andrew Key, Group Managing Director – Acquiring at Network International said, “We are delighted to partner with Foodics to serve the UAE’s thriving F&B SMEs. At Network, we are committed to bringing value–added services and fully integrated payment acceptance solutions to our merchant partners. This offering will reduce operational costs for merchants, improve the checkout experience, and provide access to Foodics’ VAS services through its software and hardware platform. We’ll be working closely with Foodics to bring these solutions to our fast-growing F&B merchant base. The UAE’s booming tourism industry is fuelling the growth of the country’s F&B sector, and we are happy to facilitate this journey through these innovative solutions.”
Also commenting on the partnership, Ahmad Al-Zaini – Founder and CEO at Foodics said, “We are honored to partner with Network International to serve the evolving needs of the F&B industry. We have gone beyond payments by providing F&B merchants with a full suite of restaurant management products and financial technology to help them elevate their operations and provide their customers with the best experience possible. Having successfully processed over 6 billion orders, our one-stop restaurant management solution not only eases operational efficiency, but also offers customers a hassle-free payments experience at any of their favourite F&B outlets.”
About Network International
Network International comprises a group of companies and is the leading enabler of digital commerce across the Middle East and Africa (MEA) region, providing a full suite of technology-enabled payments solutions to merchants and financial institutions of all types and sizes, including acquiring and processing services and a comprehensive ever-evolving range of value-added services.
Network International Holdings Plc (LSE: NETW) is the holding company for Network International and the group companies, including the DPO Group.
FOODICS is the leading cloud-based restaurant management technology and payments platform in MENA, with a 360° SaaS ecosystem supporting its end-to-end digitization and making it a pioneer in the regional F&B industry. Formally licensed as a Fintech company by the Saudi Central Bank (SAMA), the company’s vision is to build a complete restaurant management ecosystem that enables owners to run their operations seamlessly and grow their business. Its mission is to empower restaurant and merchant owners with a comprehensive cloud-based POS system to enrich their operations. FOODICS caters to every segment of the F&B sector from traditional dine-in restaurants, cafés, quick service restaurants, bakeries, food trucks through to cloud kitchens and non-food micro-retailers. Since its inception in 2014, it has successfully processed over 6 billion orders through the platform and raised a record USD170 mil in Series C round, making it one of the most promising SaaS companies to emerge from the MENA region.