UAE-based Magnati is expanding its range of payment methods for African wallet holders in collaboration with global cross-border payments network, TerraPay.
The integration allows African visitors and residents in the UAE to pay for goods and services using their preferred, local digital wallet strengthening cross-border payments, the firms said. This includes Telco Wallet, a popular payment solution that is widely used in Africa for making payments and sending money.
The deal build on existing partnerships with Airtel, M- PESA, and MTN, and increases the range of wallets accepted at Magnati’s payment terminals. It also further supports businesses looking to tap into the growing tourism in UAE from African market.
Speaking on the announcement, Ramana Kumar, Chief Executive Officer of Magnati said, “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.”
Ani Sane, Co-Founder & Chief Business Officer, TerraPay added, “This collaboration symbolises the perfect blend of technological innovation and a mutual commitment of making payments accessible and convenient. With our expertise in interoperable platforms and cutting-edge mobile payment solutions, we are determined to deliver groundbreaking acceptance solutions to African wallet holders, streamlining cross-border payments and money movement like never before.”