UAE’s Network-Magnati merger forms giant GCC payment player after key nod

Dubai: Two of the Middle East’s leading digital payment firms — Dubai-based Network International and Abu Dhabi’s Magnati — have received key regulatory approvals to merge into a single powerhouse.

The consolidation will create the region’s largest fintech company, with a combined Total Payment Volume (TPV) of over $400 billion. The newly merged entity will serve more than 250 financial institutions, 240,000 merchants, and over 20 million cardholders across 50+ markets.

The merger, led by a Brookfield Asset Management consortium, is expected to be completed in Q3 2025.

The plans were set in motion last year by Abu Dhabi's FAB, the founder of Magnati and one of the investors along with Canada’s Brookfield that acquired Network International. Brookfield also had majority shareholding in Magnati.

The combined organization will offer a broad suite of services, including:

With digital payment adoption accelerating across the Middle East, the merger positions the new company to tap into growth areas like mobile payments, e-commerce, and cross-border transactions.

Both firms anticipate not only expanding their reach across the Middle East and Africa but also achieving cost synergies and operational efficiencies, further reinforcing the UAE’s standing as a regional fintech and financial hub.

“This is a pivotal moment for fintech in the Middle East and Africa,” said Murat Cagri Suzer, Group CEO of Network International. “By combining our scale, expertise, and partnerships, we’re building the region’s most capable platform for businesses—keeping payments at the core and delivering long-term growth through innovation.”

The move reflects a wider trend of consolidation and innovation in the digital finance space, as UAE-based firms position themselves at the forefront of fintech growth across emerging markets.