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Ajman Bank & Magnati partner to offer digital payment services

By Gloria Methri

July 01, 2024

  • acquirer processing
  • Ajman Bank
  • Direct acquiring capabilities

Magnati, Ajman Bank, Merchant Acquiring, Digital Payments, Payment Processing, FinTech Middle East, UAE Ajman Bank has signed a strategic partnership with Magnati to enhance the digital payment capabilities of its corporate and business banking clients. Through this collaboration, Ajman Bank will leverage Magnati’s merchant acquiring services to offer secure payment solutions for both online and in-store payments.

Magnati is a regional leader in the payment solutions industry focused on direct acquiring, issuer processing and acquirer processing. The company provides government, merchant and institutional clients with an intelligent payment platform, using next-generation technology to deliver improved experiences and increased efficiency.

With Magnati’s expertise in payment processing and Ajman Bank’s robust banking infrastructure, clients can expect a more streamlined and efficient payment experience.

Mustafa Al Khalfawi, CEO of Ajman Bank, said, “Our collaboration with Magnati will enable us to offer our corporate and business banking clients state-of-the-art technology and innovative payment solutions. It aligns with Ajman Bank’s strategic vision of fostering innovation and embracing cutting-edge technologies to push the boundaries of excellence. We are committed to providing top-tier banking solutions that cater to the evolving needs of businesses to thrive in an increasingly digital economy by supporting their growth and success.”

Ramana Kumar, CEO of Magnati, said, “We are excited to partner with Ajman Bank to implement our advanced merchant acquiring services. Our solution is designed to offer improved experiences and increased efficiency with fast, secure and convenient payment options. With a vast network of partners and state-of-the-art platform, we ensure an efficient connection across the ecosystem.”

Ajman Bank is an Islamic bank that seeks to provide a wide range of Sharia-compliant banking services to individuals, companies and government institutions across the UAE. It is also keen to be updated with the latest technology that will ensure customers’ distinctive experimental banking with the revival of the human touch that is lost in the modern era of banking applications.

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