Abu Dhabi-based Magnati has a partnership with Al Etihad Payments, a unit of the Central Bank of the UAE (CBUAE) to provide merchants in the country with instant digital payments.
The partnership leverages Al Etihad’s cutting-edge platform, Aani, to deliver seamless, secure, and instant payment experiences for individuals, businesses, and government entities nationwide. The deal extends Aani’s advanced real-time infrastructure to Magnati’s broad merchant base, driving the adoption and innovation of payments across the UAE.
Aani, a revolutionary instant payment platform, was developed by Al Etihad under CBUAE’s Financial Infrastructure Transformation Programme. Built on a state-of-the-art infrastructure, Aani provides licensed financial institutions and payment providers with unparalleled capabilities, enabling faster, safer and round-the-clock digital transactions.
The collaboration will leverage Magnati’s extensive reach and expertise to provide expanded access to Aani, fostering wider adoption and unlocking its transformative potential across the UAE.
With a shared commitment to advancing digital payments nationwide, the two entities will drive innovative payment solutions in the UAE market. The integration provides Magnati’s merchants and customers access to leading payment technology, demonstrating its commitment to enabling seamless digital payment experiences.
“By collaborating with Al Etihad, Magnati is providing enhanced payment offerings to its merchants. 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,” said Ramana Kumar, Chief Executive Officer of Magnati.
The collaboration with Al Etihad offers several advantages to Magnati’s customers. Real-time payments around the clock enhance cash flow for merchants, and customers benefit from an improved payment experience with instant transaction confirmation via QR codes.
