UAE Gets New Instant Payments Platform ‘Aani’ for Digital Transactions

Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has unveiled Aani, an instant payment platform designed to revolutionize digital payments in the UAE. Aani, a pivotal initiative within the CBUAE’s Financial Infrastructure Transformation (FIT) program, signifies a new era of seamless, secure, and immediate digital payments.

Aligned with the UAE’s ambition to become a global digital payment hub, Aani empowers licensed financial institutions (LFIs) and payment service providers to deliver an exceptional user experience. Catering to consumers, businesses, corporates, and government entities, Aani ensures an unparalleled digital payment experience, facilitating instant and secure transactions 24/7.

Aani boasts a range of user-friendly features, allowing individuals to transfer funds instantly using only the recipient’s phone number. Additional functionalities, such as “Request Money” and “Split Bills,” streamline diverse payment experiences. Aani also supports QR codes, facilitating hassle-free, cashless payments at merchants, with plans for future enhancements including real-time direct debit and e-checks.

Eight licensed financial institutions, including Abu Dhabi Commercial Bank, Al Fardan Exchange, Emirates NBD, Finance House, First Abu Dhabi Bank, Habib Bank AG Zurich, Mashreq Bank, and National Bank of Fujairah, are participating in the launch, with efforts to onboard the remaining LFIs by the end of 2024.

Accessible through the existing channels of participating LFIs or AEP’s dedicated Aani mobile app, the platform has collaborated with Magnati, Mashreq/Neo Pay, and Network International to introduce QR-based payments with merchants. The aim is to onboard tens of thousands of merchants in the coming months through licensed merchant acquirers.

Saif Humaid Al Dhaheri, Chairman of AEP, emphasized, “The launch of Aani exemplifies our unwavering commitment to digitize the economy and advance the financial sector, aligning with our visionary leadership’s aspirations and the CBUAE’s objectives.”

Jan Pilbauer, CEO of Al Etihad Payments, added, “We are delighted to introduce Aani, a platform that redefines the digital payment experience and reinforces the UAE’s pioneering position as a global digital payment hub.”

The introduction of Aani follows the announcement of the UAE’s first Domestic Card Scheme (DCS), supporting the nation’s digitization agenda, reducing payment costs, and enhancing competitiveness.

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