FAB’s Magnati & Visa unite to offer ‘Tap to Phone’ solution in UAE

FAB’s Magnati & Visa unite to offer ‘Tap to Phone’ solution in UAE

First Abu Dhabi Bank’s (FAB) Magnati, a regional leader in the payment solutions industry, has partnered with Visa, the world’s leader in digital payments, in order to launch ‘Tap to Phone’ in the UAE.

According to the statement, the contactless solution facilitates the acceptance of card payments through a smartphone. With this partnership, Magnati is offering businesses of all sizes an advanced digital contactless payment acceptance solution through the new Magnati SoftPoS app.

The Tap to Phone functionality allows merchants to accept card payments via Near Field Communication (NFC) enabled Android smartphones or tablets, with zero dependency on Point of Sale (PoS) hardware. The app, which is powered by technology from Fiserv, removes the installation and overhead maintenance costs of dedicated PoS hardware for merchants.

Ramana Kumar

CEO – Magnati “Magnati launching the software PoS Tap to Phone solution will significantly advance the UAE’s payments industry. We are honored to partner with Visa to drive value for merchants and provide a seamless customer experience. Our journey to enhance the payment ecosystem will continue as we introduce new technologies and solutions under Magnati’s Payment Platform to fuel the digitalization journey of the payments industry. We are delighted to support the UAE’s vision of a cashless