Merger Approval Secured by Network International and Magnati, Following Regulatory Consents
In a significant move for the digital payments industry, Network International and Magnati have announced their merger, set to be completed in Q3 2025. The combined entity, backed by a Brookfield-led consortium, will become the Middle East's largest fintech powerhouse.
The merged platform will offer an expanded portfolio of products and services, tailored to meet the needs of customers ranging from small and medium-sized enterprises (SMEs) to large corporations and government agencies. This comprehensive suite of services includes digital payments, data and insights, small business lending, and advanced fraud and security solutions.
Key features of the combined entity include:
- Handling over $400 billion in total payment volume - Serving more than 250 financial institutions and 240,000 merchants across 50+ markets - Processing over 20 million payment credentials
Network International will contribute its pan-Middle East and Africa acquiring and issuing capabilities, while Magnati will offer UAE merchant depth and next-generation data monetization. The merger aims to enhance local trust retention and leverage synergies in risk analytics, SME lending, and cross-border e-commerce routing.
The strategy involves maintaining both brands temporarily to utilise local trust and operational synergies, while positioning the entity as a dominant player in the digital payments market across the Middle East and Africa. The merged organisation will continue to focus on innovation, scale, and growth, and is well-placed to capitalise on the fast-growing digital payments adoption by consumers and merchants in the region.
The merged entity is also committed to enabling businesses and will continue to partner with governments to support the digitization of economies and financial inclusion in the region. The integration of both businesses will occur in a phased manner, with both Network International and Magnati operating as separate brands for the time being.
Murat Cagri Suzer, Group CEO of Network International, stated that the merged entity will be the region's largest and most capable fintech platform. The combination of Network International and Magnati is a pivotal moment in shaping the future of fintech in the Middle East and Africa.
This merger is expected to result in sizable efficiencies and synergies for both companies. The merged entity is focused on innovation, scale, and growth and is well-placed to capitalise on the fast-growing digital payments adoption by consumers and merchants in the region. The merged organisation will continue to focus on partnerships to support the digitization of economies and enable financial inclusion in the region.
- Leveraging the synergies from the merger, the combined entity, with its extensive portfolio consisting of digital payments, data and insights, small business lending, and advanced fraud and security solutions, aims to serve a diverse range of customers, from SMEs to large corporations and government agencies, in the technology-driven business landscape.
- The merged organization, processing over 20 million payment credentials annually and handling over $400 billion in total payment volume, will strive to be the dominant player in the digital payments market across the Middle East and Africa, while maintaining a commitment to enabling businesses and fostering financial inclusion, all through strategic partnerships and innovation.
