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Sanadcom for Business Finance, one of Jordan’s leading private-sector SME lenders, recently signed a strategic Cooperation Agreement with Network International-Jordan, the local arm of the leading enabler of digital commerce in the Middle East and Africa, to enable Sanadcom to provide new financing services to merchants and facilitate the collection of financing installment payments.

The new service allows Sanadcom to automatically and flexibly deduct installments from purchases made at point-of-sale (POS) devices provided to merchants by Network, in accordance with the financing terms agreed upon between Sanadcom and its merchant partners. It will help grow the local market as well as fill the SME sector’s financing gap.

The agreement was signed by Fadi Amireh, CEO of Sanadcom for Business Finance, and Amjad Al Sadeq, CEO of Network International Jordan, in the presence of several senior executives from both sides.

Under the agreement, the two parties will collaborate on providing new services in the local market, especially for SMEs, to give Sanadcom a competitive advantage while delivering unique experiences for merchants using Network Jordan’s POS solutions.

Commenting on the signing of the agreement, Amireh said: "We look forward to working with Network Jordan and benefitting from its extensive experience in the field of electronic payments. Through this agreement we will provide products and solutions that help our customers wishing to obtain financing to develop their businesses by paying financing installments in a flexible and easy manner, deducted automatically from daily sales receipts that are made through its points of sale.”

For his part, Al Sadeq expressed the company’s keenness to cooperate with Sanadcom Business Finance, as it is in line with Network’s strategy of focusing on growth based on acceleration and innovation, which underpins its pursuit to expand its customer base as well as provide a range of innovative services and unique and exceptional solutions to serve the business sector and other institutions. This includes SMEs which today represent an important pillar of the economy in most countries of the world, and constitute more than 90% of institutions operating across various economic sectors.

Al Sadeq noted that this cooperation will enable Sanadcom to offer new and distinctive products and services to its SME clients, all of which will benefit from Network’s payment processing services including point-of-sale devices, electronic payment gateways, interactive dashboards, and more. These offer merchants time, effort, and cost benefits, as well as valuable insights and information for more efficiently managing their business – allowing SMEs to develop and increase their contributions within their sector and to the national economy.