FAB’s Magnati & DRC to offer novel payment solution for vending machines

By Amirtha P S, Desk Reporter
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Magnati, a fully owned subsidiary of First Abu Dhabi Bank (FAB), has partnered with the Gulf region’s leading F&B manufacturing and distribution company, Dubai Refreshment Company (DRC), to offer the region’s first-of-its-kind direct integration payment solution for vending machines.

The DRC vending machines, featuring an in-built card reader and telemetry system, are the first in the region to be directly integrated with Magnati’s modern cashless payment solution while meeting global security standards. 

The 90 vending machines deployed at Expo 2020 Dubai offer customers a seamless, integrated and secure payment experience. The vending machines accept payments by Visa, MasterCard, Apple Pay, Samsung Pay and Google Pay.

The new partnership between Magnati and DRC will support the UAE Government’s cashless initiative by bringing the digital payment acceptance facility on state-of-the-art vending machines at Expo 2020 Dubai. DRC introduced the Pepsi range of products to the UAE and has been the sole franchisee and distributor for Pepsi Co for almost 60 years.

Ramana Kumar
Ramana Kumar
CEO – Magnati

“As the UAE welcomes the world at Expo 2020 Dubai, we are creating new experiences and shaping the future with a showcase of the latest technologies and solutions. Magnati is leading the charge on the digital payments front while helping to advance the Government’s cashless drive. Magnati’s partnership with Dubai Refreshment Company will enable a large-scale rollout of our leading solution, as we take another step towards changing the future of payments.”

Mr. Anas Taraben, Director ICT & Smart Vending of DRC, said, “The Magnati team has shown great efforts in this partnership to create an innovative solution for visitors to Expo. The solution is a unique implementation in the retail market, integrating DRC’s telemetry system with acquirer payment solution using a device that can be deployed across all types of machines while meeting the deadline of deployment of machines at Expo.” 

Commenting on the partnership, Mr. Tarek ElSakka, Chief Executive Officer of DRC, said, “We are delighted to be part of Expo and are working with all our partners to make sure that all Expo visitors have an enjoyable experience. Our partnership with magnati is an important initiative that will provide visitors greater convenience and enhance the Expo experience.”

Magnati is focused on direct acquiring, issuer processing and acquiring processing. The company offers government, merchant and institutional clients with an intelligent payments platform that monetizes data, using next-generation technology to deliver improved experiences and increased efficiency.

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