Jan Pilbauer
Chief Executive Officer at Al Etihad Payments
In today’s fast-paced world, most people rarely think about payments – until something goes wrong. Yet behind every salary transfer, online purchase, ATM withdrawal, or bill payment lies an intricate system designed to move money seamlessly and securely in real time. It encompasses technology as well as a set of rules guiding the various players.
This system, though largely invisible to the public, is as vital to modern life as roads, ports, or electricity grids. For years, the infrastructure that powered payments was sometimes overlooked as critical national infrastructure. But today, forward-thinking nations recognize that a modern, inclusive, and resilient payments ecosystem is foundational to economic growth, innovation, and national competitiveness.
It was this vision that inspired the creation of Al Etihad Payments. Established in 2023 as a subsidiary of the Central Bank of the UAE, Al Etihad Payments holds a national mandate to build and operate the country’s financial market infrastructure. Our purpose is not commercial, it is transformational. We exist to serve the public good: we enable UAE’s financial institutions to drive financial inclusion, accelerate the digital economy, and strengthen the UAE’s position on the global stage through cutting-edge innovation.
As the UAE steps into its next chapter of digital advancement, one of our most transformative initiatives is already reshaping how the country moves money: https://aep.ae/
Aani: Setting the New Standard for Instant, Inclusive Value Exchange
Launched in 2023, Aani is far more than an instant payment platform; it signifies a fundamental shift towards a future where exchanging value is as intuitive, immediate, and effortless as sending a digital message, but with the security you expect when dealing with your money.
At its core, Aani enables anyone in the UAE to transfer money instantly – within seconds – regardless of the time or day. But speed is just the beginning. Aani was built on four foundational principles: convenience, security, inclusivity, and trust.
We are moving beyond the friction of outdated processes. The era of IBANs and delays is yielding to intuitive transfers initiated simply by knowing the recipient’s mobile number, email, or the trusted Emirates ID. While we respect existing habits by retaining traditional methods, our focus is clear: expand choice and enhance the user experience.
Critically, Aani was conceived as a platform designed for everyone. It bridges the gaps, connecting the banked, underbanked, and unbanked, integrating traditional bank accounts with digital wallets, salary cards, and exchange houses. This inherent inclusivity, woven into its very fabric, distinguishes Aani.
Realizing this vision demanded unprecedented collaboration. In over a year, we have successfully interlinked over 61 licensed financial institutions within the Aani ecosystem. This was not achieved through mandate alone, but through genuine partnership. As Al Etihad Payments operates behind the scenes, collaboration is paramount. We don’t build for the industry; we build with the industry. That’s the essence of our “building together” philosophy.
Aani extends beyond simple transfers, empowering users with features for modern life: requesting payments, splitting bills, and enabling QR code payments. For merchants, this opens a gateway to digital commerce. For consumers, it makes payments effortless.
Over 1.75 million individuals are now enrolled on Aani, and nearly 100,000 merchants can accept Aani payments. Daily transaction volumes are surging, exhibiting remarkable month-over-month growth between 20–30%. Yet, the true elegance lies in its integration. Aani isn’t only a separate App users must seek out; it’s a capability embedded within the familiar banking apps they already trust, available precisely when and where it’s needed.
Shaping a ‘Less-Cash’ Future by Empowering Choice
Our objective is not to eliminate cash. Instead, we champion a ‘less-cash’ society – one where digital alternatives are so compelling, secure, inclusive, and trustworthy that they become the natural, preferred choice. We believe in the power of choice and are committed to ensuring no one is excluded from the digital economy simply due to a lack of accessible, modern payment options.
Creating a national payments infrastructure is like building the foundation for a country’s digital money system – comparable to constructing the essential framework of power lines or transportation networks. It begins with deploying a robust core system that interconnects banks, payment service providers, and other financial entities. From there, we define the operational protocols: the speed at which money moves, the mechanisms that ensure security, and the criteria for access. Our vision is to create a future-proof foundation – one capable of supporting emerging technologies – without requiring reinvention each time innovation advances.
At Al Etihad Payments, we are privileged to lead this transformation. We are not merely constructing payment systems; we are architecting the essential infrastructure for the UAE’s vibrant digital future. We are building tomorrow, today.
