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February 22, 2024

Magnati & AEP unite to offer instant digital payments in UAE

Magnati, a leading payments solutions provider in the Middle East region, has entered into a partnership with Al Etihad Payments (AEP), a subsidiary of the CBUAE, to provide merchants with instant digital payments in the UAE.

This collaboration builds on Magnati’s longstanding commitment to shaping the future of payments. It leverages AEP’s cutting-edge platform, Aani, to deliver seamless, secure, and instant payment experiences for individuals, businesses, and government entities nationwide.

This move extends Aani’s advanced real-time infrastructure to Magnati’s broad merchant base, driving adoption and innovation for payments across the UAE.

Aani, a revolutionary instant payment platform, was developed by AEP under the Central Bank of the UAE’s Financial Infrastructure Transformation Program. 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.

This 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.

The collaboration with AEP 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. This includes options beyond cash, offering increased convenience and access to the latest payment innovations.

Jan Pilbauer, Chief Executive Officer of Al Etihad Payments, said that, “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.”