Mashreqbank PSC : Mashreq Collaborates with Al Etihad Payments to Unfold "Aani Instant Payment Services"
October 16, 2023
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Dubai, UAE, 17 October 2023: Mashreq, one of the MENA region's leading financial institutions, has joined forces with Al Etihad Payments to introduce the state-of-the-art "Aani Instant Payment Services" on the Mashreq App. The latest service reshapes the payment ecosystem across the board - from individual consumers to luxury outlets, everyday merchants, and beyond. The initiative is endorsed by the Central Bank of the UAE, reinforcing its position as a trusted and reliable payment solution.
Key features of "Aani Instant Payment Services" include:
Instant Real Time Payments: Customers can enjoy near-instantaneous payment transfers, ensuring that their financial transactions are completed swiftly and securely
24/7 Accessibility: Ensuring customers and merchants can transact anytime.
Flexibility: Customers can make payments using a contact's phone number, email address, or even their IBAN
Advanced Features: Incorporates options such as Send Money, Request Money, Split Bill, and QR-based payments
Merchant payments: Merchants receive near-instant credits in their bank accounts for transactions made by customers at store locations
Kartik Taneja, Head of Payments and Consumer Lending at Mashreq commented, "Embracing our roots in Mashreq's legacy of innovation, the incorporation of 'Aani Instant Payment Services' cements our position at the forefront of the digital payment eco-system. In unison with Al Etihad Payments, we are redrawing the boundaries of transactional convenience. This venture not only underscores our unwavering commitment to a seamless financial future but also reinforces our promise of delivering transformative payment solutions. As we align with Aani, we embark on an exciting journey to redefine payment experiences." Marking a surge in the UAE's global appeal, the region witnessed a record influx of international visitors in recent years. The launch of "Aani Instant Payment Services" is set to further transform the payment experiences, ensuring both residents and visitors enjoy unparalleled financial convenience. Jan Pilbauer, CEO of Al Etihad Payments, added, "We are delighted to introduce Aani, a new payments platform built together with the UAE's financial industry as a testament to our commitment to innovation and excellence. Our work with Mashreq and NEOPAY, as one of our key stakeholders, is reshaping the paradigm of digital payments in the UAE. Aani's friction-free user experience is strengthened by efficiency and security. We will continue working closely with our partners to unleash the full potential of Aani with additional features in the future."
Anchored in Mashreq's tradition of pioneering innovative solutions, and with a vision of merging payment avenues onto a singular, cohesive platform, this endeavor with Al Etihad Payments exemplifies Mashreq's dedication to cutting-edge financial solutions.
UAE
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Mashreq Bank PSC published this content on 17 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2023 13:52:30 UTC.
Mashreqbank psc is a United Arab Emirates-based bank that provides retail banking, commercial banking, investment banking, Islamic banking, brokerage and asset management activities. The Bank is active through its business segments: the Domestic Corporate segment provides trade finance, contracting finance, project finance, investment banking, corporate advisory, cash management, wealth management, and small and medium enterprises (SME) and private banking for corporate and commercial customers in the United Arab Emirates; the Domestic Retail segment includes current account, savings accounts, fixed deposits, investment products and other services to individuals and small business; the Treasury & Capital Markets segment consists of customer flow business, among others, and the International Banking segment consists of retail and corporate business for the Bankâs overseas banking branches. The Bank's Islamic banking products include Ijara home finance and Mudarabah deposit.
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