Magnati, a leading payment solutions provider in the Middle East, has announced a strategic partnership with NPCI International Payments Limited (NIPL), to offer QR-based Unified Payments Interface (UPI) merchant payments via Magnati’s point-of-sale (POS) terminals in the UAE. The collaboration aims to expand QR-based merchant payment network in the UAE by enabling more merchants to provide UPI as a payment method to Indian travelers.
UPI is recognised among the world’s most successful real-time payment systems, processing over 15 billion transactions in November 2024 in India. The cost-effective, mobile-first payment solution has become a dominant form of digital payments globally as it offers simplicity, safety, and reliability for merchant payment transactions. With this partnership, Magnati enhances its portfolio of payment solutions, empowering UAE merchants to cater to an expanded customer base of Indian travelers and residents.
As part of the initial rollout, Magnati has introduced UPI acceptance at Dubai Duty Free to enhance the shopping and payment experience for Indian travelers, paving the way for future expansion across key merchant categories including retail, hospitality, transport, and supermarkets among others.
Salim Awan, Managing Director, Institutional Payments Solutions at Magnati, said: “With the NPCI International collaboration, Magnati has expanded its alternative payment channels network for Dubai Duty Free as this partnership aims to bolster digital payments, facilitate cross-border payments and provide a seamless payment experience catering to the Indian travelers and NRIs. This collaboration exemplifies our commitment to innovative digital solutions and create value through a globally connected ecosystem.”
Ritesh Shukla, Chief Executive Officer, NPCI International said, “The partnership with Magnati is a strategic step towards expanding UPI acceptance in the UAE. It offers Indian travelers a seamless and familiar payment experience at premier destinations like Dubai Duty Free. This collaboration aligns with our vision of providing Indians with a global digital payments acceptance network and enhancing their payment experience abroad. Furthermore, it paves the way for broader economic and cultural connections between India and the UAE.”
Ramesh Cidambi, Chief Executive Officer, Dubai Duty Free, said: “Magnati’s partnership strongly connects to its commitment to innovation and customer-centric solutions. By integrating UPI into its payment acceptance ecosystem, Magnati is demonstrating its position as a trusted partner for businesses across the UAE, enabling quick, hassle-free, and secure payment experiences for both merchants and customers.”
By integrating UPI into its payment acceptance ecosystem, Magnati has further strengthened its position as a trusted partner for businesses across the UAE, enabling quick, hassle-free, and secure payment experiences for both merchants and customers.
