Mashreq, a leading financial institution based in the MENA region, has partnered with Al Etihad Payments, a UAE-based entity focused on advancing the national payment infrastructure, to launch a new digital payment solution.
The collaboration introduces Aani Instant Payments, aimed at revolutionising how small and medium-sized enterprises (SMEs) collect payments, according to FF News.
The partnership between Mashreq and Al Etihad Payments is centred on offering SMEs in the UAE an instant, secure, and seamless payment collection method.
By eliminating the need for IBANs and traditional banking details, the Aani Instant Payments solution empowers businesses to improve cashflows, streamline payment collection, and enhance customer convenience.
Mashreq serves a broad customer base across retail, corporate, and SME segments and is known for its innovative digital banking solutions.
The bank’s Mashreq Biz app offers a comprehensive suite of tools for SME customers, enabling efficient financial management through a unified digital interface.
Al Etihad Payments plays a pivotal role in the UAE’s payments ecosystem, developing advanced solutions to support financial inclusion and digital transformation. Through its Aani platform, the organisation enables secure, real-time payments to foster a more agile and inclusive economy.
The Aani Instant Payments feature is now integrated into the Mashreq Biz app, allowing SME customers to request payments using either a QR code or a payment link. This payment request can be sent to any user enrolled with Aani in the UAE, facilitating secure and cost-free transactions without the need for sensitive bank information.
The feature simplifies payment acceptance for merchants, thereby enhancing customer experience and driving sales. This development supports the UAE’s National Payment Systems Strategy by increasing interoperability between payment systems and positioning the nation as a global financial hub.
Mashreq head of business banking and NEO BIZ Rajeev Chalisgaonkar said, “We are proud to be the first bank in UAE to offer Aani Instant Payments to SMEs. This solution demonstrates our commitment to help our Business Banking and NEO BIZ clients improve their cashflows through innovative banking solutions. With this new feature, SME customers can collect money faster, and their retail consumers also enjoy a far simpler and instant way of making payment for their purchases.”
Al Etihad Payments chief operating officer Andrew McCormack said, “We are delighted to onboard Mashreq as a provider of the innovative Aani Instant Payment solution – bringing intuitive, secure, and inclusive digital payments to small-scale merchants and their customers. As demand for seamless, real-time payments continues to rise, Aani offers SMEs a powerful way to transact with greater ease and agility. By removing traditional barriers and enabling instant acceptance, Aani is not only enhancing business efficiency but is advancing financial inclusion and supporting the UAE’s broader vision of a cashless, digitally empowered economy.”
Mashreq head of payments & consumer lending Kartik Taneja said, “With the launch of Aani Instant Payments on the Mashreq Biz app, we are reinforcing our commitment to delivering seamless, real-time payment solutions that simplify the way businesses collect funds. This first-of-its-kind solution reflects Mashreq’s vision to empower SMEs with advanced digital tools that enhance operational efficiency and accelerate their growth in today’s digital economy.”
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