Is This the Future of Payments in the MEA Region?

Ever wonder about the bigger picture behind the payment systems you use every day? Well, there's some significant news from the Middle East and Africa (MEA) region that could quietly shape the future of how businesses, especially SMEs, handle transactions.

Network International, a well-known fintech company in MEA, and Magnati, a key player in payment solutions in the UAE, recently announced they've received the necessary approvals to merge. This new, combined entity will be owned by a consortium led by Brookfield, and the whole process is expected to wrap up by the end of September 2025.

What This Means for Businesses Like Yours

So, why should you care? This isn't just about two big companies joining forces. The merged entity will be quite substantial, serving over 250 financial institutions, 240,000 businesses (yes, that includes many SMEs!), and more than 20 million cardholders across over 50 markets in the MEA region.

For SMEs, this could translate into a few things:

• More comprehensive payment options: The new organisation plans to offer a wider range of services. This includes digital payments, tools to help you understand your sales data, potentially even small business lending options, and advanced fraud and security solutions. In simple terms, they're aiming to be a one-stop shop for your payment needs.

• Focus on digital transformation: Both companies have been active in pushing for the digitisation of economies. This merger suggests an even stronger commitment to this. As more consumers and businesses adopt digital payments, e-commerce, and cross-border transactions, this combined entity will be right there, looking to capitalise on that growth. This could lead to more user-friendly and efficient digital payment tools becoming available to you.

• Tailored solutions: The aim is to offer products and services designed for everyone, from small businesses to large enterprises. This suggests they'll be working to understand the specific challenges and needs of SMEs when it comes to payments.

Murat Cagri Suzer, Group CEO of Network International, mentioned that this combination is about creating the region's largest and most capable fintech platform. Their goal is to keep payments at the heart of their services, aiming to unlock growth and deliver value to customers.

What's Next?

For now, Network International and Magnati will continue to operate under their separate brands as the integration happens in phases. It's a significant development in the MEA fintech landscape, and it will be interesting to see how this newly merged entity impacts the payment solutions available to businesses across the region in the coming years.