Network and Magnati form a fintech giant

The mega merger positions UAE as fintech hub for Middle East, Africa

- BY JUSTIN VARGHESE

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.