Magnati, a regional fintech, and Sapaad, a restaurant-tech company that provides cloud-based software and services in the F&B industry, have signed a memorandum of understanding.
Following this partnership, Sapaad and Magnati will offer F&B business owners the ability to perform seamless operations and provide a use-case-driven product offering to all types of F&B outlets in the UAE. Sapaad currently offers a multi-channel cloud-based restaurant management platform, that their customers (F&B outlets) can access using android and iOS apps, conventional desktops and browsers to record and process orders.
In addition, end consumers can also place orders using Sapaad's self-ordering kiosk and restaurant-branded online ordering system. Magnati and Sapaad power commerce across all these touchpoints via their tech APIs and microservices architecture. Sapaad will integrate all of its interaction channels with Magnati's payment terminals, payment gateway and Data & VAS engines to process online, offline, pay-by-link and tap-on-phone transactions with a seamless experience. Restaurants can also consume Magnati's campaign management and customer engagement capabilities to reward and delight their customers with efficient marketing budget utilisation.
Ramana Kumar, Chief Executive Officer of Magnati, said: "Magnati's partnership with Sapaad is the latest step in our rapidly accelerating vision of transforming payments into possibilities for our customers across different segments, including the F&B sector. Through the development and application of cutting-edge payment innovations, Magnati is not only enabling better and safer ways for customers to transact but is also offering them the highest levels of convenience. With Magnati's reach and Sapaad's segment expertise, we're offering a powerful one-stop solution to the F&B businesses in the region."
Vishnu Vardhan, Founder & CEO of Sapaad, said: "Sapaad and Magnati both value customer experience. With this partnership, F&B businesses operating on Sapaad platform will have the best operational efficiency, fast, secure hassle-free payments and elegant customer experience through seamlessly integrated Magnati terminals, payment gateways and other value-added services. Sapaad's restaurant management system gives merchants the tools to operate and manage their F&B businesses efficiently. At the same time, Magnati provides an intelligent payments platform that monetises data, using next-generation technology to deliver improved experiences and increased efficiency. Both services offer a powerful one-stop solution to F&B businesses in the region."
Nishit Doshi, Managing Director, Product, Propositions & Partnerships at Magnati, said: “We are excited to partner with Sapaad. Thousands of restaurants in the UAE use their cloud-based solution to record over a billion worth of orders from various channels; however, for processing payments, they use conventional and non-integrated services, especially for dine-in, take-out and offline orders. Businesses run better when everything works together, is a proven hypothesis across the globe, especially in merchant-commerce environments. Now, these restaurants can harness Sapaad and Magnati's collective strength by using a more purpose-built offering that will help them increase efficiencies, reduce overheads and costs, and provide a superior consumer experience.”
In the coming weeks, Magnati and Sapaad will individually and collectively engage with restaurants using Sapaad's cloud-based software and Magnati's payment services to share the enhanced value proposition with them and explain the benefits of this bundled offering for their respective business.