Magnati enters into a partnership with Fils to elevate and drive sustainable finance and payments on the sidelines of COP28

Magnati, a leading payments solutions provider in the Middle East region, is further accelerating its sustainability efforts through a strategic collaboration with Fils, a pioneering ESG focused fintech platform.

Through this collaboration, Magnati aims to provide its merchants with actionable environmental insights and promote green payments as part of its broader commitment to sustainable finance. Merchants will gain access to a suite of emissions calculator solutions and offset mechanisms, made possible through the collaborative efforts of Fils.

This initiative goes beyond financial services, demonstrating the innovative spirit across the financial, technological, and investment sectors. It aligns with the ambitious ‘Net Zero by 2050′ strategy, coinciding with COP28, and underscores Magnati and Fils’ shared commitment to a sustainable future.

By integrating environmental considerations with digital finance, Magnati is taking concrete steps to contribute to a more sustainable and resilient world.

Ramana Kumar, CEO of Magnati, said: “As a prominent payments and technology company based in the UAE, Magnati recognises its responsibility in contributing to a sustainable planet through climate change finance. We are thrilled to announce our strategic partnership with Fils as we embark on a journey to identify and implement solutions that would contribute to net-zero ambitions. This collaboration underscores our commitment to providing climate-neutral payment services and reinforces Magnati’s commitment to sustainability.”

Nameer Khan, CEO of Fils, adds: “We are at a turning point in how finance can contribute to a sustainable world. Our collaboration with Magnati is more than just a partnership; it’s a leap towards a future where every financial service has a positive environmental impact.”

Customers of Magnati’s ‘Payment as a Platform’ will have access to a variety of emissions calculator solutions and offset mechanisms, thanks to the seamless integration of Fils’ comprehensive platform. This initiative empowers businesses of all sizes in the UAE and the region to build products and embed customer journeys that promote transparent carbon calculations and offer opportunities to counterbalance their carbon footprint using reputable methods.

This partnership marks a significant milestone for the region, demonstrating how collaboration and innovation can lead to meaningful change.