Dubai-based Network International, the leading enabler of digital commerce in the Middle East and Africa (MEA), has announced that it has partnered with SerVme, which is the leading reservation and guest CRM platform for restaurants and hospitality operators.
The partnership will bring significant benefits to UAE-based F & B merchants as the sector continues to record steady growth supported by the country’s standing as one of the world’s most popular tourist hotspots.
The revenue in the Food & Beverage (F&B) market is said to be $37.74 billion in 2023. The market is expected to grow annually by 5.13% (CAGR 2023-2028). The market’s largest segment is the segment confectionery & snacks with a market volume of $9.34 billion in 2023.
The partnership will enable restaurant operators to secure their revenues in advance from guests by offering options such as partial or full deposits for special events. It will also enable pre-authorisation of credit cards for bookings to hedge against last-minute cancellations that affect restaurants’ table turnover.
Moreover, this innovative solution will mitigate issues such as “no-shows” and ensure a seamless and secure payment experience for dining customers while providing restaurants with guaranteed income.
Through an integration of Network and SerVme’s platforms, restaurants will enjoy a more seamless and efficient payment process with real-time access to the reservation system, and automatic storing of all payment history under the respective guest profile in the CRM system.
Key contributor to UAE’s Economy
Pankaj Kundra, Group Head of Products, Partnerships and Enterprises at Network International, aid that as a home-grown payments company, Network is delighted to support the UAE’s growing hospitality sector which remains a key contributor to the nation’s economy.
“Our strategic alliance with SerVme is in line with our continued commitment to deliver valued-added services and payment innovation to our hospitality clients. This integrated offering will enhance the payment experience for customers and merchants while providing the added security benefits of advanced encryption, PCI compliance and fraud prevention measures,” Kundra said.
Sarah Hawilo, CEO and Founder of SerVme, said that joining forces with Network International will empowers their restaurant merchants to unlock a seamless and efficient experience and take operations to new heights while securing revenues in advance.
“We are committed to supporting restaurant growth and providing innovative solutions that adapt to the F&B industry’s evolving needs,” Hawilo added.
The partnership underscores both companies’ commitment to leveraging technology to provide innovative and seamless solutions, aiming to significantly impact the F&B industry in the UAE.
This joint venture aims to bolster the food and beverage sector in UAE. The partnership comes at a time when, reportedly, the sector is experiencing continuous growth that is supported by the country’s popularity among tourists.
By combining their platforms, Network International and SerVme will enable restaurants to facilitate the payment process for their clients. Moreover, the partnership will enable access to the reservation system as well as the automatic storing of all payments via the guest profile in SerVme’s CRM system.
Strategy-wise, purportedly the company seeks to invest in strategic partnerships that aim to boost its geographic footprint.
The Middle East segment of the business covers markets in the UAE, Jordan and recently Saudi Arabia, while for its segment in Africa, Network International provides its services to around 40 countries, including Egypt, Nigeria, and South Africa.