Abu Dhabi : magnati, a fully owned subsidiary of First Abu Dhabi Bank (FAB), has partnered with Dubai Refreshment Company (DRC), a leading F&B manufacturing and distribution company in the Gulf, to offer the region’s first-of-its-kind direct integration payment solution for vending machines. DRC introduced the Pepsi range of products to the UAE and has been the sole franchisee and distributor for Pepsi Co for almost 60 years.
Featuring an in-built card reader and telemetry system, the DRC vending machines are the first in the region to be directly integrated with magnati’s cutting-edge cashless payment solution, while meeting global security standards. The 90 vending machines deployed at Expo 2020 Dubai provide customers a seamless, integrated and secure payment experience.
Tarek ElSakka, Chief Executive Officer of DRC, said: “We are delighted to be part of Expo and are working with all our partners to make sure that all Expo visitors have an enjoyable experience. Our partnership with magnati is an important initiative that will provide visitors greater convenience and enhance the Expo experience.”
Anas Taraben, Director ICT & Smart Vending of DRC, said: “The magnati team has shown great efforts in this partnership to create an innovative solution for visitors to Expo. The solution is a unique implementations in the retail market, integrating DRC’s telemetry system with acquirer payment solution using a device that can be deployed across all types of machines, while meeting the deadline of deployment of machines at Expo.”
Ramana Kumar, Chief Executive Officer of magnati, said: “As the UAE welcomes the world at Expo 2020 Dubai, we are creating new experiences and shaping the future with a showcase of the latest technologies and solutions. magnati is leading the charge on the digital payments front, while helping to advance the Government’s cashless drive. magnati’s partnership with Dubai Refreshment Company will enable a large-scale rollout of our leading solution, as we take another step towards changing the future of payments.”
Salim Awan, MD, Institutional Payments, magnati, said: “Founded on magnati’s industry expertise and technical know-how, our pioneering solutions are transforming the face of payments in the UAE. We are showcasing how advanced technology can give users greater convenience and security, and truly improve the customer experience. We are proud to partner with a leading F&B company to implement this unique solution.”
The vending machines accept payments by Visa, MasterCard, Apple Pay, Samsung Pay and Google Pay.
magnati is focused on direct acquiring, issuer processing and acquiring processing. The company provides government, merchant and institutional clients with an intelligent payments platform that monetises data, using next generation technology to deliver improved experiences and increased efficiency. magnati strengthens the FAB Group’s leadership position in the rapidly expanding payments sector and is helping to accelerate its digital transformation agenda.
magnati is the payments business of First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s safest financial intuitions. Focused on direct acquiring, issuer processing and acquiring processing, magnati provides government, merchant and institutional clients with an intelligent payments platform that monetises data, using next generation technology to deliver improved experiences and increased efficiency. The magnati brand is charged with energy and potential and is set to transform payments into possibilities. With the power of FAB’s expertise and infrastructure at the core, magnati will attract regional and global partners, setting a new standard for innovation and delivery in the payments industry. magnati is a fully owned FAB subsidiary, strengthening the Group’s leadership position in the rapidly expanding payments sector and accelerating its digital transformation agenda.
Visit www.magnati.com for more information.
About Dubai Refreshment Company
DRC is a leading F&B manufacturing and distribution company in the Gulf.
It is strategically located at the heart of the new industrial hub midway between Dubai and Abu Dhabi, at Dubai Investment Park. The new site is state of art that meets the current requirements of the industry.
More significant is the fact that the company introduced the Pepsi range of products to the UAE and has been doing the same successfully for almost 60 years.
The business began as a limited liability company by Decree of His Highness, The Ruler of Dubai and in July 1994, it amended its status as a Public Shareholding company. In 1962 DRC was appointed as the sole franchisee and distributor for Pepsi Co. The company’s vision has always been to be the lower Gulf’s leading F&B company, driven by top caliber people, equipped with the right tools and solid systems. A wide distribution network ensures PepsiCo products are readily available to customers all over the UAE and many parts of the world.
For further information, please visit https://pepsidrc.com/
© Press Release 2021