Network International and Magnati secure key regulatory approvals for merger
The merged entity will serve over 250 financial institutions, 240,000 businesses and more than 20 million cardholders across more than 50 markets in MEA. With a comprehensive suite of offerings—including digital payments, data and insights, small business lending, and advanced fraud and security solutions, the merged organization is committed to enabling businesses. It will continue to partner with governments to support the digitization of economies and enable financial inclusion in the region.
With a focus on innovation, scale, and growth, the combined business is well-placed to capitalize on the fast-growing digital payments adoption by both consumers and merchants in the region, including mobile payments, e-commerce and cross border transactions. It will offer an expanded portfolio of products and services, tailored to meet the needs of customers, from SMEs to large enterprises and government agencies. Both companies will also realize sizable efficiencies and synergies, while expanding their operational reach across the MEA region.
"The combination of Network International and Magnati marks a pivotal moment in shaping the future of fintech in Middle East and Africa,' said Murat Cagri Suzer, Group CEO of Network International. 'By combining our scale, talent, deep market expertise, and strong partnerships, we are creating the region's largest and most capable fintech platform serving businesses, keeping payments at the core of our services. We are poised to unlock long-term growth with innovation and deliver even greater value to our customers, partners and shareholders.'
The integration of both businesses will take place in a phased manner, and they will continue to operate as two separate brands, namely Network International and Magnati, for the time being.
About Network International
Network International is the Middle East and Africa's largest and leading digital payments company. Our purpose is to help businesses and economies grow by simplifying payments and commerce. We operate in 50+ countries serving governments, banks, fintechs, merchants and public sector companies. We have 2,500+ employees based in our markets serving over 250 financial institutions and 196,000+ merchants.
About Magnati
Magnati is a regional leader in the payment solutions industry focused on direct acquiring, issuer processing, and acquiring processing. Magnati provides government, merchant, and institutional clients with an intelligent payments platform, using next-generation technology to deliver improved experiences and increased efficiency.
Headquartered in Abu Dhabi, Magnati's expertise and relationships provide a platform for the company to attract international partners while setting a new standard for innovation and delivery in the payments industry.
Visit magnati.com for more information.
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