Al Etihad Payments launches instant payment platform Aani

By Delisha Fernandes

Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has  launched Aani, an instant payments platform that aims to transform the landscape of digital payments in the UAE.

Aani enables licensed financial institutions (LFIs) and payment service providers to offer customers an exceptional user experience. The instant payments platform offers consumers, businesses, corporates, and government entities an unparalleled digital payment experience, enabling transactions to be processed instantly and securely 24 hours a day, seven days a week.

Saif Humaid Al Dhaheri, Chairman of AEP, said, “The launch of Aani exemplifies our unwavering commitment to digitise the economy and advance the financial sector, aligning with our visionary leadership’s aspirations and the CBUAE’s objectives. Aani is not just a payment platform; it represents a catalyst for economic growth, innovation, and financial inclusion. We remain dedicated to fostering an ecosystem that encourages innovation, competition, and growth, benefiting the entire financial system.”

Aani includes a suite of convenient features allowing users to transfer money instantly using only the recipient’s phone number. Other functions of Aani include “Request Money” and “Split Bills”, effectively streamlining various payments experiences. Aani also supports QR codes, facilitating hassle-free, cashless payments at merchants. Additional functionalities will be introduced in the near future such as real-time direct debit and e-checks.

The launch involves participation from eight licensed financial institutions: 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. AEP is working to onboard the remaining LFIs by year-end 2024.

Jan Pilbauer, CEO of Al Etihad Payments, said, “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. Collaborating closely with our partners, we are committed to unlocking the full potential of Aani through current and future features that address evolving market needs.”