UAE's digital payments boom gets a boost with Network International-Magnati merger

19/10/2025 02:43 AST

As the UAE accelerates its journey toward a cashless economy, the recent merger between Network International and Magnati marks a pivotal moment in the region's digital payments evolution.

The union of these two major players is not just a consolidation of market power - it's a strategic alignment with the UAE's broader ambitions to become a global leader in digital finance.

In an interview with Khaleej Times, Murat Cagri Suzer, Group CEO of Network International, described the merger as a transformative step that creates a fintech platform with the scale, technology, and talent to redefine digital commerce across the Middle East and Africa (MEA). "We've evolved from being a payment processor to a fintech platform that empowers businesses and consumers alike," Suzer said.

The combined entity now serves over 250 financial institutions, 240,000 merchants, and more than 25 million cardholders across more than 50 markets. This scale is critical in a region where digital payments are growing at twice the global average, driven by a combination of government initiatives, consumer demand, and rapid technological innovation.

The UAE's digital payments landscape has undergone a dramatic transformation in recent years. According to industry data, the country's card payments market is projected to grow by 10.6 per cent in 2025, reaching Dh565.5 billion. Meanwhile, the Buy Now, Pay Later (BNPL) market is expected to more than double by 2030, growing at a compound annual rate of 18.29 per cent.

This growth is underpinned by a surge in mobile wallet usage - Apple Pay, Google Pay, and bank mobile apps now dominate the market, with 38 million users across the GCC. Instant payment transactions in the UAE rose to 67.5 million in 2024, totaling Dh225.4 billion, reflecting a growing preference for real-time, seamless financial interactions.

Government-led initiatives are playing a central role in this shift. Dubai's Cashless Strategy aims to make 90 per cent of all transactions digital by 2026, potentially adding Dh8 billion annually to the economy. National platforms like Aani (instant payments) and Jaywan (a domestic card scheme) are further accelerating adoption, while open finance frameworks are fostering innovation and competition in the financial services sector.

A strategic merger for a digital future
The merger between Network International and Magnati is a direct response to these trends. By combining their capabilities, the two companies aim to deliver a broader suite of services, including digital payments, data analytics, small business lending, and advanced fraud prevention.

"This merger allows us to bring even greater value to our clients through faster innovation, enhanced data insights, and a stronger geographic footprint," Suzer explained. "We're committed to enabling businesses with smart, data-driven tools that make payments faster, safer, and more accessible."

The company is also investing heavily in next-generation technologies such as artificial intelligence, biometrics, tokenization, and open banking. These innovations are being integrated into its core operations to improve fraud detection, optimize payment processing, and personalize customer experiences.

One such innovation is the recently launched Revenue Enhancement solution, which helps businesses identify missed opportunities, optimize customer segmentation, and maximize earnings. The company is also expanding its offerings in areas like cross-border payments, BNPL, digital wallets, and expense management - solutions that are increasingly in demand across the region.

Security at the core
As digital payments become more embedded in daily life, security remains a top priority. With global cybercrime costs projected to reach $10.5 trillion annually by 2025, Network International is doubling down on its "security-first" culture.

The company employs advanced encryption, tokenisation, and AI-driven fraud detection to protect sensitive data and ensure transaction integrity. A dedicated threat detection and response team monitors for anomalies in real time, while internal training and third-party vetting ensure that security remains a shared responsibility across the organization.

"We provide a secure and trusted payment environment that enables our customers - both merchants and financial institutions - to grow their businesses with confidence," Suzer said.

Looking ahead
The outlook for digital payments in the Middle East is overwhelmingly positive. With a tech-savvy population, high smartphone penetration, and strong regulatory support, the region is well-positioned to lead the global shift toward digital finance.

For Network International, the merger with Magnati is more than a business expansion - it's a strategic move to lead the region's fintech revolution. "We're entering a new chapter defined by innovation, inclusion, and leadership," Suzer concluded. "Our goal is to build a nimble, responsive platform that adapts to customer needs in real time and drives the next wave of digital transformation."

As the UAE and its neighbors continue to invest in digital infrastructure and financial inclusion, the stage is set for a future where cash is no longer king - and where smart, secure, and seamless payments are the norm.

Khaleej Times