StockMarketWire.com - Middle East focused payments group Network International said its first-quarter revenue had edged up 1%.

Merchant solutions revenue had fallen 3%, but the decrease was more than offset by a 5% rise in issuer solutions revenue.

'We are encouraged by trading and the momentum of customer wins, particularly our new partnerships which will help us to drive scale and innovation across the business,' chief executive Nandan Mer said.

'Whilst lockdowns have eased and normal conditions have returned in several of our markets, the pandemic remains fluid and we are cognisant that our recovery from Covid-19 disruption may not always be straightforward.'

'My focus is to execute against our strategy to drive long term profitable high growth. We continue to progress discussions around significant financial institution payment outsourcing mandates, and Saudi Arabia remains a key priority despite the challenges of temporary border closure.'

'Our goal is unambiguous; to scale our presence across our markets, innovate to deliver market leading solutions for our customers, and accelerate our delivery. We have clear plans in place and I firmly believe that Network is poised for greater growth.'




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