FAB, Magnati collaborate with Geidea to accelerate digital payments in Saudi Arabia

FAB, Magnati collaborate with Geidea to accelerate digital payments in Saudi Arabia

ABU DHABI, 24th August, 2023 (WAM) -- First Abu Dhabi Bank (FAB) and Magnati have joined forces in a strategic alliance with Geidea, Saudi Arabia's largest fintech company, to provide digital payment acceptance services for businesses in the Kingdom.

The collaboration has the potential to be transformative in the Saudi payments space and is set to create exceptional value for clients, bridging the gap between advanced financial solutions and accessibility, while ensuring enhanced affordability.

FAB is the UAE’s largest bank and one of the world’s largest and safest financial institutions, also operating as a licenced full-service bank in the Saudi market since 2019, while Magnati is a pioneering company specialising in digital payment solutions. With a focus on innovation and technology, Magnati offers Payment as a Platform services that cater to a wide range of industries and businesses, encompassing integrated payment solutions, secure transaction processing, and comprehensive e-commerce solutions.

The strategic alliance between FAB, Magnati, and Geidea is a crucial step in offering inclusive access to cutting-edge financial services and solutions.

Ramana Kumar, CEO of Magnati, stated, “Our collaboration with Geidea is a testament to our commitment to serving our clients' expansion goals in Saudi Arabia. Together, we aim to revolutionise the payment landscape