The company, which operates across
Strategic update, twelve months post Capital Markets Day
The largest consumer payments business across the
Network is a high growth payments business operating at scale across countries with large consumer spending pools, young populations and an accelerating secular shift from cash to digital payments. It is the largest acquirer delivering payment services directly to over 150,000 merchants in the
Successful delivery of strategic priorities
Network’s growth-oriented strategy is focused on scaling existing markets, targeting new markets, expanding capabilities and diversifying revenue streams. Its focus markets in
Financial growth: on track to deliver 2022 financial guidance of 27-29%1 revenue growth and modest underlying EBITDA margin expansion; returning excess cash of up to
Financial institution processing business: seeing record levels of revenue growth as a result of new customer wins, accelerated transaction growth and the cross-selling of value-added services.
Further growth opportunities: launching direct-to-merchant services in
Several regulatory approvals in African key markets
Network welcomed the increasing regulatoryframeworksbeing introducedacross its markets, having recently received approvalsto provide direct-to-merchant business in two markets:
Issuer Solutions business line review
Revenue driven by new business and digital transaction growth
Solid revenue growth is reflective of the large number of customers signed in the prior year and ongoing strength in the number of transactions, which has continued to grow throughout the year-to-date. Both the
Signed four new financial institutions, totaling 13 new wins year-to-date
Network secured four new financial institution customers during the quarter. It also expanded its relationship with
New capabilities include the launch of commercial payments services
New business in commercial payments: Network has started to launch commercial card processing services with a number of wins in the space. The commercial payments landscape represents a potential new revenue pool and a cross-selling opportunity to existing customers.
Payment installment by SMS: introduced for two existing financial institution customers.
Merchant Solutions business line review
Merchant Solutions revenue momentum in
New signings in Q3 reached record levels, above the rates seen in the first half of the year, with no significant customer losses. The pace of SME signings accelerated through the period, which has been supported through the recent launch of ‘DPO Pay’ services in the
Enhancing capabilities and value-added-services
Roll out of the WooCommerce plugin for SME merchants: creating an online store, shopping cart and checkout in 48 hours.
Introduced online government payments in
Continued development of Unified Commerce services: enriching ‘Click & Collect’ services through the option to ‘Buy online and return in store’.
Extended longstanding data analysis partnership: with one of the region’s leading retail and shopping facilities operators.
DPO’s new capabilities broadening their merchant reach
Customer wins at DPO remain healthy with the group securing several key merchants in the period, including Radisson Blue, Homemark, KFC Ghana and Zamtel. DPO has integrated payment capabilities with Odoo, a widely used e-commerce software, simplifying the process for retail merchants to choose DPO as their payment provider. DPO has also partnered with IATA Financial Gateway (IFG), IATA’s global distribution system, widening their potential merchant customer base to a further one-hundred airlines including
Network will soon be launching direct-to-merchant services in
Growing acquirer processing business via partnerships across
Network has extended its partnership with Tymebank to support the growth of the bank’s payment acceptance capabilities in
1. Revenue guidance of 27-29% y/y is based on 2021 revenue of
Forward Looking Statements:
This announcement contains certain forward-looking statements with respect to the financial condition, results or operation and businesses of
These factors include general economic and business conditions; changes in technology; timing or delay in signing, commencement, implementation and performance of programmes, or the delivery of products or services under them; industry; relationships with customers; competition; and ability to attract personnel. You are cautioned not to rely on these forward-looking statements, which speak only as of the date of this announcement. We undertake no obligation to update or revise any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances.
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