The United Arab Emirates (UAE) is rapidly advancing toward a cashless economy, with the recent merger between Network International and Magnati marking a significant milestone in the region’s digital payments evolution. This strategic consolidation aligns with the UAE’s ambition to become a global leader in digital finance, leveraging a tech-savvy population, high smartphone penetration, and robust regulatory support. Murat Cagri Suzer, Group CEO of Network International, emphasized that the merger transforms the company into a fintech platform capable of redefining digital commerce across the Middle East and Africa (MEA). The combined entity now serves over 250 financial institutions, 240,000 merchants, and 25 million cardholders across 50+ markets, positioning itself at the forefront of a region where digital payments are growing at twice the global average. The UAE’s card payments market is projected to grow by 10.6% in 2025, reaching Dh565.5 billion, while the Buy Now, Pay Later (BNPL) market is expected to double by 2030. Government initiatives, such as Dubai’s Cashless Strategy and national platforms like Aani and Jaywan, are driving this transformation. The merger enables Network International to offer a broader suite of services, including data analytics, small business lending, and advanced fraud prevention. The company is also investing in cutting-edge technologies like AI, biometrics, and tokenization to enhance security and customer experiences. As digital payments become increasingly embedded in daily life, Network International is prioritizing a ‘security-first’ culture, employing advanced encryption and AI-driven fraud detection to safeguard transactions. With the Middle East poised to lead the global shift toward digital finance, this merger represents a strategic step in shaping a future where smart, secure, and seamless payments are the norm.
UAE’s digital payments boom gets a boost with Network International–Magnati merger
