FAB’s Magnati joins Mastercard Fintech Express program

By Arya M Nair, Intern Reporter
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Mastercard
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First Abu Dhabi Bank’s (FAB) Magnati, a regional leader in the payment solution industry, has joined the Mastercard Fintech Express program, which helps fintech companies issue cards and credentials.

Mastercard connects startups with financial institutions such as banks to provide personalized solutions, adaptable licensing frameworks and a single point of contact for regional fintech to accelerate card program launches.

Through this partnership, fintechs will be able to access the complete range of processing and merchant solutions Magnati provides to clients through its Payment as a Platform offering.

Magnati is also a qualified partner in Mastercard Engage, which enables fintechs looking for payment solutions to engage quickly and seamlessly with Magnati and allows them to onboard new solutions and innovate at speed.

Ramana Kumar
Ramana Kumar
CEO – Magnati

“Fintechs have emerged as a driving force for innovation in the region. At Magnati, we want to support their progress with tailored solutions that help them leverage the payments function to achieve accelerated growth. We are excited to join Mastercard’s Fintech Express program as a qualified Engage Partner, in a move that will empower startups by connecting them to the right opportunities for expansion.”

Mr. Kazim Kirmani, MD and Head of International Business at Magnati, said that “Magnati’s commitment to enhance the payment ecosystem will see a boost with this partnership. Through the program, we will continue to offer the same market-leading products to power fintechs’ payment infrastructure, but with the ability to reach wider audiences and enact impact rapidly. We are delighted to partner with Mastercard to provide the next generation of solutions to fintechs.”

“Mastercard is continuously working with our partners to support startups in their digital transformation journeys. We are delighted to welcome Magnati as an Engage partner in our Fintech Express program as we continue to help startups scale at speed, allowing them to focus on delivering innovative products and solutions that drive the digital economy,” commented Mr. J.K. Khalil, Cluster General Manager, MENA East, Mastercard.

Mastercard Fintech Express is one of many fintech offerings within the Mastercard Developers portfolio. Mastercard Developers provides the services and tools fintech innovators need to iterate at each stage of their journey, transform bold ideas and achieve scale at a fast pace. The portfolio includes Solutions, API Platform, Partner Networks, Startup Programs and Fintech Community.

Related: UAE’s e& rebrands its eWallet into new fintech company ‘e& money’


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