Geidea collaborates with Magnati to enter the metaverse

By Leandra Monteiro

Geidea, a FinTech company in the region, has partnered with Magnati, a leader in the payments solutions industry to enable merchants to provide seamless customer experiences in Magnati MetaV, the first metaverse marketplace in the MENA region.

Magnati MetaV is a virtual platform where people can get a visual and sensory experience as they shop, learn, play games, attend events and more online – all from the comfort of their homes.

Geidea and Magnati aim to elevate the retail experience by providing merchants with tailored data and insights including visual representation of products and services, real-time customer experiences, opportunities for revenue generation for brick-and-mortar industries and experiential commerce seamlessly integrated to existing payment gateway.

Sailesh Malhotra, General Manager, GCC at Geidea said, “At Geidea, we remain committed to empowering merchants to grow and scale their businesses. Through this exciting partnership with Magnati, we are tapping into a rapidly expanding, brand-new world of e-commerce. We are providing merchants with a fully-immersive experience – a ground-breaking and digitally-enhanced offering to help elevate the overall retail experience in the Magnati MetaV universe.”

Salim Awan, MD, Institutional Payments, Magnati, said, “Magnati is proud to collaborate with Geidea to offer merchants in the region a more immersive way to reach their customers. Through Magnati-MetaV, customers can clearly visualise, feel and know what they are paying for, and merchants can unlock opportunities for revenue generation.”

Customers can view and interact with retail offerings in three dimensions using customizable avatars in an online environment. A variety of retail categories, including fashion, food, gaming, and technology, will be available for customers to browse, pick up, try on, and buy. Customizable avatars enable users to explore a discovery-driven online environment where merchants and consumers can see and feel retail offerings in multi-dimension.

The platform is fully integrated with traditional payment rails and gateways, so that shoppers can pay for products and services on Magnati MetaV through cards, wallets and other accepted payment methods, for a completely familiar payment experience.

Earlier this year, Geidea became the payment service provider for Magnati as part of the company’s expansion in the UAE, thereby facilitating digital payment acceptance. Through this partnership, merchants are benefiting from Magnati’s tailored payment solutions, allowing them to accept a wide range of digital payments through a secure, single, and seamless API integrated platform.