00:11Why we are here is kind of straightforward.
00:15Saudi is the biggest payments economy in all of Middle East and Africa,
00:19and it's the one that has been growing significantly,
00:23because I think all the important elements are there.
00:26The government has a vision, there is a lot of foreign direct investment coming in.
00:30We are one of those.
00:32The central bank has clear policies, very good engagement as well,
00:36and the market is just ready to continue to grow.
00:40So this is a fantastic market for any financial technology player.
00:45We are really honored to be selected.
00:48I think Network International being in 56 countries,
00:51processing more than $400 billion of payments volume,
00:54we have the experience to bring in the best of the technology to the markets that we are in.
01:00Now, when we talk about the best of the technology,
01:02you can talk about the small businesses,
01:04we can talk about the enterprises as well.
01:06If you talk about small businesses first,
01:09first we are going to eliminate time to wait,
01:12which means the application versus the wait time until you do the first transaction.
01:16On average, it takes three weeks in Saudi.
01:19We already decreased it in our pilot with 1,000 customers so far in 24 hours,
01:25and we are going to decrease it to two hours in the following three months.
01:28So, you want to have payments, then in two hours you are going to be able to apply.
01:33All controls are going to be done because we are integrated to the softwares
01:37of the government agencies as well.
01:39So we are going to finalize all the controls within two hours,
01:42and we are going to provide you the software or the hardware
01:45so that you are going to be able to start accepting payments for your business.
01:49The second thing is the data platform itself that we are going to provide you,
01:53which we already have, an insights-based application
01:56where you are going to be able to see your transactional information,
01:59how much is going to be settled into your account tomorrow.
02:02If you want to access that money earlier from today, you can just click a button.
02:06And then if you want access to cash, to SME lending,
02:09then we will be a channel for you so that you can utilize us
02:13to send that information to the banks that you are working together.
02:16So, we are here to improve the experiences.
02:20So, immediately changes ease of access.
02:24Immediately, especially the e-commerce one.
02:26So, if you are selling something from home or if you are just,
02:29you have a shop and then you are turning into e-commerce,
02:32we are presenting you integrated solutions, your e-commerce shop,
02:36together with your payments experience.
02:38And you get it in two hours and then you can start transaction.
02:41together with a soft POS or pay-by-link,
02:44so that it doesn't have to be just you waiting for the payment.
02:48You can also access to your customer base and also ask for that payment as well.
02:52Then you are going to have the data elements
02:54where you are going to be able to see what your business is doing compared to others,
02:59so you can benchmark yourself with that information.
03:02Small businesses typically, they don't have those resources.
03:05They don't have a CFO, they don't have a Chief Technology Officer,
03:07but they are very smart in terms of how to do things.
03:10So, they are going to be able to utilize these additional services for free,
03:14so that they can improve their businesses.
03:16We are the only player in the market, in Saudi market,
03:20that's providing a small business end-to-end payment services.
03:24You want a POS, a kiosk, pay-by-link, soft POS, gateway,
03:30fraud modules or approval modules on top of the gateway,
03:33end-to-end is being provided by Network International.
03:36You don't need to have multiple providers now.
03:40Why Saudi? Because it has the best ecosystem, which is the biggest site.
03:46Why now? Because I think Network International have been investing more than $100 million already
03:52and built a very big business case on their issuing processing business.
03:56And now is the time to bring in our software and talent to the country
04:02for the small businesses and enterprises on the acquiring side.
