Magnati and TerraPay have partnered to revolutionize cross-border payments

Magnati, a well-established payments company in the Middle East, has partnered with TerraPay with the intent of empowering merchants by including a new payment method to its product suite. The latter is a leading global cross-border payments network; reaching over 2 billion mobile wallets and 7.5 billion bank accounts worldwide.

TerraPay - Magnati partnership

The partnership between Magnati and TerraPay will allow African residents and visitors in the UAE to pay for goods and services conveniently via their digital wallets. In the long-term, Magnati sees the collaboration as a move that will enable it drive innovation in the payments indusrty. Among the underlying enablers is the over 50,000 payment terminals that accept TerraPay-powered wallets in Africa.

With regard to its partnership with TerraPay, Magnati’s CEO, Ramana Kumar stated, “Over time, 50,000+ Payment Terminals of Magnati will be enabled to accept payments using popular wallets from Africa in their respective local currencies. This exciting collaboration with TerraPay signifies our commitment to providing seamless payment solutions that meet the evolving demands of our customers, while also fostering stronger ties between the UAE and Africa.”

On the one hand, TerraPay’s expansive network will be beneficial to the partnership. It has grown into a global partner of several money transfer companies, mobile wallets, and banks. With this, Telco Wallet holders from Africa will be able to enjoy secure cross-border payments at Magnati’s payment terminals within the UAE.

At the same time, Magnati has been able to cater for the diverse needs of both merchants and customers through its competitive advantage in the market. Its focus on next-generation technology has bolstered it into a major entity within Middle East’s payment solutions industry.