The Middle East and Africa offers attractive characteristics for a payments provider, with digital payments volumes expected to increase significantly due to structural shift away from cash transactions.
This trend is supported by attractive GDP dynamics; a young, fast-growing and increasingly urban population; and rising consumer spending across the region. Many of our markets are also seeing governmental support for financial inclusion and the development of their respective economies. Our strategy is focused on providing solutions that allow our customers to bring digital payments to more consumers across our regions:
- Capitalise on digital payments adoption and enable financial inclusion
- Expand our customer base and focus on high value segments
- Develop commercial arrangements with strategic partners
- Product expansion and market penetration
- Leverage technology and build capabilities
- Pursue opportunities for acceleration
Capitalise on digital payments adoption and enable financial inclusion
We intend to support demand for our services by promoting financial inclusion and providing low-cost payment solutions that we can profitably deploy as a result of our scalable technology platforms.
- Support structural market growth in digital payments through leading capabilities
- Increase consumer access to digital payments through building low cost solutions
- Support financial inclusion initiatives by working with governments and NGOs
- Explore and develop our solution to mobile money payments
Expand our customer base and focus on high value segments
We aim to remain the partner of choice for digital payment ecosystem participants. By delivering market leading solutions, value added services and ongoing innovation to existing and new customers. We will target the significant bank outsourcing opportunity available to us, as the majority of payments processing across the MEA is still managed in-house by financial institutions.
- Expand our range of services to existing customers
- Win new financial institution processing customers by capitalising on our scale and service
- Win merchants in high value segments such as SMEs, hospitality and online payments
Develop commercial arrangements with strategic partners
We work with many partners throughout the region, to support the execution of our strategy and further enrich our capabilities. We have a significant strategic and commercial partnership with cornerstone investor, Mastercard, to collaboratively support growth across the MEA payments market.
- Develop relationships or commercial agreements to support the execution of our strategy; that
underpin or enhance our market knowledge, distribution or product capabilities
Product expansion and market penetration
We will continue building out our payment solutions product portfolio for both merchants and issuers, including value added insights through our data analytics capability.
- Develop best in class products that enhance speed, efficiency and value for customers
- Adapt products to the local market to enable rollout across the region
- Bring value add insights to customers
Leverage technology and build capabilities
Ensuring we have the right capabilities and scale to support our growth. Focusing on ways to increase our operational efficiency, both through technology solutions as well as digital initiatives, and continue to leverage the benefits of our regional presence and scale.
- Ensure we have the capabilities and scale to support our growth
- Optimise and invest further in our technology infrastructure
- Enhance responsiveness and efficiency through creating shared service principles
- Digitise customer facing and support functions to optimise efficiency and governance
Pursue opportunities for acceleration
We see substantial growth accelerator opportunities across our region, through both organic means and selective acquisitions. With a focus on assets, contracts or investments that will consolidate or expand our geographic position in the MEA or provide new product or technology capabilities.
- Selective M&A
- Entry to new markets (such as the Kingdom of Saudi Arabia)
- Winning significant new outsourcing mandates
(Read more in the Strategic Framework section of the Annual Report and Accounts)