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Magnati partners with Lagardere Travel Retail in MENA region

Wednesday 20 December 2023 13:31 CET | News

Magnati, a Middle East-based payments solutions provider, has entered a partnership with Lagardere Travel Retail to implement a next-generation payment experience.

Through this alliance, Magnati intends to provide card acceptance services to Lagardere’s network in the UAE, encompassing over 200 acceptance points across Abu Dhabi International Airport and Dubai International (DXB). Moreover, the company has recently expanded its local operations by adding 18 new stores to Terminal A at Abu Dhabi International Airport.

Magnati, a Middle East-based payments solutions provider, has entered a partnership with Lagardere Travel Retail to implement a next-generation payment experience

 

About Magnati's cashless payment system

According to the press release, the cash registers used at Lagardere Travel Retail stores are directly linked with Magnati's cashless payment system, which follows global security standards to ensure an effortless, integrated, and secure payment experience for customers. The system accepts a wide variety of international and domestic cards and provides Dynamic Currency Conversion, allowing customers to make payments in their home currencies using their cards. 

This feature also provides a convenient and non-restrictive transaction experience for Lagardere Travel Retail's international clientele. 

The Magnati and Lagardere Travel Retail partnership supports both companies' shared efforts to provide smart initiatives and secure payment solutions for consumers for their purchasing experience. As per Magnati's official statement, the company aims to enable a seamless payment ecosystem by partnering with businesses to provide them with trustable payment technologies. Thus, solutions offered to Lagardere will ease transactions for its users. 

Dynamic currency conversion benefits

Dynamic Currency Conversion (DCC) is one strategy that has proven to simplify international transactions and end an established payment method that retailers are increasingly adopting. As a result, merchants offering DCC often partner with highly regarded payment processors. 

How this service can positively impact businesses and improve the customer experience:

  • DCC offers a profitable revenue stream to merchants, contributing to contributes to paybacks as a terminal.
  • Unlike other financial tools that may need extra infrastructure, DCC only needs configuration. Thus, it simplifies the implementation process for merchants.
  • DCC helps attract international customers with tailored payment options. Also, as the terminal, it updates the currency conversion rates daily.

More about Magnati 

With its operations based in the MENA region, Magnati provides services in the payment solutions industry, with the company being focused on direct acquiring, issuer processing, and acquiring processing. Magnati offers government, merchant, and institutional clients a payment platform that leverages technology to deliver enhanced experiences and increased efficiency.

Recently, the company has entered a collaboration with Sheikh Shakhbout Medical City (SSMC) to offer a simplified and secure payment experience to SSMC patients. Considering the wide range of payment channels, including cards, e-wallets, and self-checkout kiosks, patients can settle their bills conveniently without carrying cash or checks.

Previously, in November 2023, the payments company announced its partnership with UK-based cross-border payments network TerraPay to provide merchants with an additional payment method. Through this integration, African visitors and residents in the UAE can pay for goods and services using their preferred digital wallets. 

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Keywords: partnership, contactless payments, cross-border payments, card payment, retail
Categories: Payments & Commerce
Companies: Lagardere Travel Retail, Magnati
Countries: Middle East, United Arab Emirates
This article is part of category

Payments & Commerce

Lagardere Travel Retail

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Magnati

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