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Magnati partners with Fils to drive sustainable finance and payments on the sidelines of COP28

Magnati customers will now have access to a variety of emissions calculator solutions

Magnati, a leading payments solutions provider in the Middle East, is ramping up its sustainability efforts through a strategic partnership with Fils, an innovative FinTech platform based out of Dubai.

The collaboration aims to empower Magnati's merchants by offering practical insights into their environmental impact and encouraging eco-friendly payments as part of a broader dedication to sustainable finance. Merchants will benefit from a range of emissions calculator solutions and offset mechanisms, made available through the joint efforts, said Magnati.

As per the company's statement, the initiative is in line with the ambitious 'Net Zero by 2050' strategy, synchronised with COP28, emphasizing a mutual commitment of building a sustainable future.

Ramana Kumar, CEO of Magnati, stated, "The collaboration underscores our commitment to providing climate-neutral payment services and reinforces Magnati's commitment to sustainability."

Nameer Khan, CEO of Fils, described the collaboration as “leap towards a future where every financial service has a positive environmental impact."

Magnati customers will now have access to a variety of emissions calculator solutions and offset mechanisms," said Khan. He added that the initiative "would empower 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."