Dubai – MENA Herald: Network International, the leading payment solutions provider in the Middle East, has opened a captive centre in Bengaluru, India – ‘Network International Global Services India PTE Limited’.
The company is among the first from the Middle East to open a captive centre in India, a timely initiative as the UAE seeks to strengthen economic cooperation with its longstanding trading partner. Network International’s India facility will operate as a technology center and will eventually become a ‘Testing Centre of Excellence’, leveraging the expertise of India’s world-class technology professionals.
The captive center was inaugurated by: R.V. Deshpande, Hon’ble Minister for Large & Medium Scale Industries (LMI) and Tourism, Government of Karnataka; in the presence of H.K. Patil, Minister for Rural Development; Panchayati Raj, Government of Karnataka; S.R. Patil, Minister for Infrastructure, Planning and Statistics, IT, BT, Science & Technology, Government of Karnataka; and Krishna Byregowda, Minister for Agriculture, Government of Karnataka.
Commenting on the opening, Bhairav Trivedi, Chief Executive Officer of Network International, said, “Our expansion to India signals the start of an exciting new phase for Network International. Offshoring will enable us to serve our customers – spread across 41 countries – better and faster, creating a pathway to innovation. The Bengaluru office will tap into a talented resource pool, and our customers stand to benefit from even quicker response times, specialised technological support and an overall increase in operational efficiency.”
Network International is currently the largest acquirer in the United Arab Emirates and processes well over half of all merchant transactions in the Emirates. In the last three years, the company has witnessed a doubling in volume of transactions processed, reaching almost 550 million transactions in 2014, amounting to AED 83 billion in acquiring volume. While the UAE remains its largest market, Network International has an established foothold as the leading payment solutions provider across the MENA region.
The India facility will serve to support and enhance Network International’s regional expansion plans. The UAE is currently India’s third-largest trade partner. Over the years, India has emerged as a preferred offshoring destination for companies based in the US, Europe and Japan, mainly due to the availability of skilled personnel and cost-effective high-quality services. India accounts for 45 per cent of the total captive centres, or global in-house centres (GICs), in the world, making it the leading destination, according to Nasscom, a global trade association, for the Indian Information Technology and Business Process Outsourcing industries.