In a significant development for the fintech landscape across the Middle East and Africa (MEA), Network International, a prominent player in the digital payment sector, has completed its strategic merger with Magnati, a leading payment solution provider based in the UAE. The merger, now operating under the banner of Network International LLC, is backed by a consortium led by Brookfield, aiming to amplify innovation and financial inclusion throughout the region.
The newly formed entity is set to deliver a robust suite of services that encompass digital payments, data-driven insights, SME lending, and advanced fraud prevention. With these enhanced capabilities, Network International LLC is strategically positioned to accelerate digital transformation and expand access to essential financial services for businesses and consumers alike across MEA.
Hadi Badri, Chairman of the Board for Network International, highlighted the significance of this merger, stating, “This merger creates a UAE homegrown fintech champion for the Middle East and Africa region with attractive opportunities for growth and innovation. The combined platform of Network International and Magnati will empower local merchants to thrive in one of the world’s most dynamic fintech regions.”
The unification of these two industry leaders promises to harness their deep regional expertise and technological capabilities, thereby shaping the future of digital commerce in the area. Murat Cagri Suzer, Group CEO of Network International, expressed optimism for the collaboration, declaring, “By uniting two leaders with deep regional expertise and capabilities, we are creating a fintech platform with the scale, technology, and talent to shape the future of digital commerce across the region.”
As part of the integration process, the companies will adopt a phased approach, allowing their respective brands to continue co-existing for the time being. This strategy is designed to ensure a seamless transition while maintaining the high standards of service that their clients have come to expect.
Network International boasts a rich legacy as the leading fintech provider in the MEA, dedicated to aiding businesses and economies in their growth by simplifying payments and commerce. The organisation maintains a vast ecosystem that includes banks, fintechs, telcos, merchants, governments, and public sector entities across more than 50 countries. With a team of over 3,000 professionals, Network International collaborates closely with more than 250 financial institutions and over 240,000 merchants, delivering reliable, scalable, and future-ready payment solutions.
Picture: X