Magnati, a leading payments solutions provider in the Middle East, has announced a strategic partnership with Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE. This collaboration signifies Magnati’s ongoing commitment to shaping the future of payments in the region. Leveraging AEP’s cutting-edge platform, Aani, the partnership aims to deliver seamless, secure, and instant payment experiences for individuals, businesses, and government entities across the UAE.

Aani, a revolutionary instant payment platform developed by AEP under the Central Bank of the UAE’s Financial Infrastructure Transformation Programme, offers unparalleled capabilities to licensed financial institutions and payment providers. Built on a state-of-the-art infrastructure, Aani facilitates faster, safer, and round-the-clock digital transactions. The collaboration will extend Aani’s advanced real-time infrastructure to Magnati’s extensive merchant base, driving adoption and fostering innovation in payments throughout the UAE.

Ramana Kumar, Chief Executive Officer of Magnati, emphasized the significance of the partnership, stating, “By collaborating with AEP, Magnati is providing enhanced payment offerings to its merchants. This strategic partnership integrates Aani’s instant payment platform across our vast network, opening doors for thousands of merchants to embrace Aani’s cutting-edge technology. This bridge between traditional cash-based businesses and advanced digital solutions will accelerate the adoption of Aani’s innovative platform, further encouraging the UAE towards a cashless ecosystem.”

The collaboration between Magnati and AEP aligns with their shared commitment to advancing digital payments on a national scale. The integration of Aani into Magnati’s network not only provides access to leading payment technology for merchants but also underscores Magnati’s dedication to enabling seamless digital payment experiences for its customers.

Customers of Magnati will benefit from several advantages as a result of this collaboration. The implementation of real-time payments around the clock enhances cash flow for merchants, while customers experience improved payment processes with instant transaction confirmation through QR codes. The partnership also introduces options beyond cash, offering increased convenience and access to the latest payment innovations.

Jan Pilbauer, Chief Executive Officer of Al Etihad Payments, highlighted the overarching goal of the partnership, stating, “At Al Etihad Payments, our goal is to further boost the UAE’s digital economy by providing secure and easy-to-use payments infrastructure, enabling our partners to deliver seamless and intelligent payment solutions to their customers. By combining Magnati’s merchant network with Aani’s instant payments capabilities, this partnership paves the way for UAE’s large and small retail businesses, and other merchants to benefit from receiving instant payments from their customers.”

As Magnati and AEP join forces, their collaborative efforts are poised to drive innovation in the UAE’s payment landscape. The partnership is expected to play a pivotal role in advancing the nation’s digital economy, providing businesses and consumers alike with enhanced payment solutions and contributing to the acceleration of a cashless ecosystem.