Mashreq collaborates with Al Etihad Payments to unveil ‘Aani’ instant payment services

The initiative is endorsed by the Central Bank of the UAE


Somshankar Bandyopadhyay

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Kartik Taneja, Head of Payments at Mashreq Bank. — Supplied photo
Kartik Taneja, Head of Payments at Mashreq Bank. — Supplied photo

Published: Thu 19 Oct 2023, 4:43 PM

Mashreq, one of the Mena region’s leading financial institutions, has joined forces with Al Etihad Payments to introduce the state-of-the-art Aani on the Mashreq App. The latest service reshapes the payment ecosystem across the board – from individual consumers to luxury outlets, everyday merchants, and beyond. The initiative is endorsed by the Central Bank of the UAE, reinforcing its position as a trusted and reliable payment solution.

Key features of “Aani Instant Payment Services” include:

Instant Real Time Payments: Customers can enjoy near-instantaneous payment transfers, ensuring that their financial transactions are completed swiftly and securely

24/7 Accessibility: Ensuring customers and merchants can transact anytime.

Flexibility: Customers can make payments using a contact’s phone number, email address, or even their IBAN

Advanced Features: Incorporates options such as Send Money, Request Money, Split Bill, and QR-based payments

Merchant payments: Merchants receive near-instant credits in their bank accounts for transactions made by customers at store locations

Kartik Taneja, head of payments and consumer lending at Mashreq, said: “Embracing our roots in Mashreq’s legacy of innovation, the incorporation of Aani instant payment services cements our position at the forefront of the digital payment eco-system. In unison with Al Etihad Payments, we are redrawing the boundaries of transactional convenience. This venture not only underscores our unwavering commitment to a seamless financial future but also reinforces our promise of delivering transformative payment solutions. As we align with Aani, we embark on an exciting journey to redefine payment experiences.”

Marking a surge in the UAE’s global appeal, the region witnessed a record influx of international visitors in recent years. The launch of “Aani Instant Payment Services” is set to further transform the payment experiences, ensuring both residents and visitors enjoy unparalleled financial convenience.

Jan Pilbauer, CEO of Al Etihad Payments, said: “We are delighted to introduce Aani, a new payments platform built together with the UAE’s financial industry as a testament to our commitment to innovation and excellence. Our work with Mashreq and NEOPAY, as one of our key stakeholders, is reshaping the paradigm of digital payments in the UAE. Aani’s friction-free user experience is strengthened by efficiency and security. We will continue working closely with our partners to unleash the full potential of Aani with additional features in the future.”

Anchored in Mashreq’s tradition of pioneering innovative solutions, and with a vision of merging payment avenues onto a singular, cohesive platform, this endeavor with Al Etihad Payments exemplifies Mashreq’s dedication to cutting-edge financial solutions.

About Mashreq

Mashreq is more than half century old bank, yet proudly thinks like a challenger, startup, and innovator. Mashreq pioneered key innovations and developments in banking, starting with entry-level digital-first customers, all the way to powering some of the region’s most prominent corporations and wealth accounts.

The bank’s mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them reach fulfilment, achieve financial goals, and unlock their vision of success.

Reassuringly present in major financial centres of the world, Mashreq’s home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers.

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