Aani, an instant payments platform, has been unveiled by Al Etihad Payments, a subsidiary of the Central Bank of the UAE.
It offers a range of features, enabling users to send money instantly by using the recipient’s phone number. It also includes features like ‘Request Money’ and ‘Split Bills’ and supports payments of up to Dh50,000 initially.
Additionally, Aani facilitates cashless payments at merchants through QR codes, and it plans to introduce further functionalities such as real-time direct debit and e-checks.
Eight Licensed Financial Institutions Join Aani
The launch involves the participation of 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. More licensed institutions are expected to join.
The app can be accessed through the existing channels of the participating financial institutions or via Al Etihad Payments’ Aani mobile app.
Saif Humaid Al Dhaheri, Chairman of Al Etihad Payments, 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.”
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.”
Currently, Aani payments are confined to domestic transactions, permitting customers to transfer and receive funds exclusively between accounts maintained at licensed financial institutions or authorized payment service providers within the UAE, in the local currency, dirhams.
