Our purpose is to help businesses and economies prosper by simplifying commerce and payments 

Over the past 30 years, we have built a business based on long-standing and trusted relationships with many of the leading merchants, financial institutions and payment networks operating in the Middle East and Africa. Such relationships are based on our comprehensive capabilities, scale, local presence in the multiple markets in which we operate, alongside our trusted reputation. This gives us significant scale and leadership in the region, where we operate in more than 50 countries and serve over 130,000 merchants and 250 financial institutions, whilst managing 18+ million payment credentials. 

Merchant Services (42% of group revenue in 2022)1:

Directly services and enables our merchant customers to ‘take payments’ from consumers; by providing them with online and offline payment acceptance methods. We maintain direct relationships with merchant customers and Payment Service Providers (PSPs) across the UAE, Jordan, Africa (DPO Group) and newly launched services in Egypt.

Outsourced Payment Services (55% of group revenue in 2022)1:

Support our financial institution, fintech and other payment credential issuing customers in enabling consumers to ‘make payments’; by managing and processing their consumer payment credentials and transactions. The Outsourced Payment Services segment supports customers across two main business lines:

  • Issuer processing – where we support payment credential issuing customers in enabling their consumers to ‘make payments’ by managing and processing their consumer payment credentials and transactions. Issuer processing represents the majority of revenue within Outsourced Payment Services.
  • Acquirer processing – where we enable FIs, fintechs, and indirectly, their merchant customers, to ‘take payments’ from consumers. Within acquirer processing, our clients maintain the relationship with the merchants, whilst we provide digital payment acceptance, transaction processing and other operational services.

 

1. Remaining revenue balance relates to ‘Other revenue’, which primarily includes cash advance fees on withdrawals from ATMs, and foreign exchange gains / (losses) arising from the Merchant Services and Outsourced Payment Services business lines alongside revenues recognised relating to the Mastercard strategic partnership. Other revenues under Geographical results includes only revenues recognised relating to the Mastercard strategic partnership.

 

Introduction to the payments industry