Magnati and TerraPay Join Forces to Transform Cross-Border Payments

Magnati, a prominent payments company in the Middle East, is elevating merchant capabilities by introducing a new payment method in collaboration with TerraPay, a leading global cross-border payments network with an extensive reach across 7.5 billion+ bank accounts, 2.1 billion+ mobile wallets, and 29 global licenses and regulatory approvals. This integration facilitates convenient payments for goods and services in the UAE by many African visitors and residents using their preferred digital wallets. Over time, Magnati aims to drive innovation in the payments industry with more than 50,000 payment terminals accepting TerraPay-powered wallets in Africa.

As a key global partner for banks, mobile wallets, money transfer operators, and financial institutions, TerraPay brings extensive expertise and a robust network to this collaboration. Acting as an aggregator of leading digital and mobile wallets, TerraPay enables Telco Wallet holders from Africa to experience simple and secure cross-border payments at Magnati's payment terminals in the UAE.

In a highly competitive market, Magnati distinguishes itself by offering a unique service. Through strategic partnerships with companies like Airtel, M-PESA, and MTN, Magnati enables wallets from Africa at its payment terminals, addressing the diverse needs of customers and merchants. This strategic move enhances convenience and creates new opportunities for businesses to tap into the growing tourism in the UAE from the African market.