TymeBank Partners with Network International to Facilitate Electronic Payments Across SMEs

One of the leading digital banks in South Africa TymeBank​ has partnered with Network International, a payments solutions provider in the middle east, to build accessible and affordable payment solutions for the small and micro businesses market in South Africa.

Network International has already enabled TymeBank to become the first new card acquirer in South Africa for more than a decade. Now, it has further provided a solution with both local processing and connectivity to international card schemes for its long-term partner. Through the solution, TymeBank will expand its offering to power digital payment acceptance among South African small and medium enterprises (SMEs).

Dieter Botha, Chief Technology & Operations Officer, TymeBank South Africa said: "TymeBank continues to enhance and expand its provision of affordable (low cost) banking and financial services to the South African market. Network provides platforms that are scalable, proven and cost-effective and bring the bank the ability to develop innovative product and service offerings. We are therefore proud to announce that the engagement will be launching a differentiated, innovative, low-cost acquiring service to the South African SME marketplace".

Andrew Key, Managing Director, Network International Africa, added, "Our engagement with digital banking pioneer, TymeBank not only broadens our foothold in South Africa, but also carries inherent synergies that will positively impact digital payment penetration in the country. We anticipate broadening our relationship with TymeBank with an increased range of services over the coming months."