Magnati partners with AI Etihad Payments

As per the information detailed in the press release, the partnership solidifies Magnati’s commitment to improving and expanding payment capabilities, as it leverages AEP’s platform, Aani, to deliver simplified, secure, and instant payment experience for individuals, businesses, and government entities nationwide. Additionally, the move extends the platform’s real-time infrastructure to Magnati’s merchant base, increasing the adoption and enhancement of payments across the UAE.

Magnati currently focuses on direct acquiring, issuer processing, and acquiring processing, with the company providing government, merchant, and institutional clients with a payment platform that leverages technology to deliver improved experiences and increased efficiency. The company’s knowledge and relationships offer a platform that aims to appeal to international partners, while also improving the UAE’s payment industry.

AEP, a subsidiary of the Central Bank of the UAE, developed Aani under the bank’s Financial Infrastructure Transformation Programme, with it providing licenced financial institutions and payment providers with improved capabilities and safer digital transactions. Through this partnership, AEP leverages Magnati’s extensive reach and insight to offer advanced access to Aani, fostering wider adoption across the UAE.

Sharing a commitment to increasing the use of digital payments nationwide, Magnati and AEP aim to provide improved payment solutions in the UAE market, while enhancing the experience for all stakeholders. By integrating their capabilities, Magnati’s merchants and customers receive access to payment technology, solidifying the company’s allegiance to enabling simplified digital payment experiences. According to Magnati’s officials, the collaboration with AEP allows it to provide improved payment offerings to merchants. The strategic alliance integrates Aani’s instant payment platform across Magnati’s network, providing additional opportunities for merchants to implement the platform’s technology. The connection between traditional cash-based businesses and digital solutions focuses on accelerating the adoption of Aani’s platform, further encouraging the UAE towards a cashless society.

Furthermore, the partnership with AEP provides several advantages to Magnati’s users, including real-time payments that enhance cash flow to merchants, and improved payment experiences for customers through instant transaction confirmation via QR codes. Coming as an addition to cash, the offering intends to increase convenience and access to the most recent payment features. Representatives from AEP underlined that their company’s objective is to further increase the UAE’s digital economy by offering secure and convenient payment infrastructures, enabling partners to deliver simplified payment solutions to their customers. By merging Magnati’s merchant network with Aani’s instant payment capabilities, the partnership supports the UAE’s large and small retail businesses, and other merchants to benefit from receiving instant payments from their customers.

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