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Mashreq partners with Al Etihad Payments to unveil a new payment service

The payment service aims to reshape the payment ecosystem, from individual consumers to luxury outlets, everyday merchants, and more.

Mashreq partners with Al Etihad Payments to unveil a new payment service
[Source photo: Anvita Gupta/Fast Company Middle East]

As the UAE establishes itself as a sought-after global destination for travel, tourism, and residence, the region witnesses a growing number of international visitors. In response to this trend, there is a significant shift in payment service experiences, catering to the financial convenience of both residents and visitors.

Mashreq has joined forces with Al Etihad Payments to introduce “Aani Instant Payment Services” on the Mashreq App, an initiative supported by the Central Bank of the UAE.

The payment service offers instant real-time payments, allowing customers to receive payments quickly and secure financial transactions. Both customers and merchants have round-the-clock access, helping them with transactions.

“Aani Instant Payment Services” allows customers to make payments using a contact’s phone number, email address, or even their IBAN. The service includes additional features like Send Money, Request Money, Split Bill, and QR-based payments.

Kartik Taneja, Head of Payments and Consumer Lending at Mashreq, says the payment service embraces Mashreq’s innovative roots while cementing the bank’s position within the digital payment industry. “In unison with Al Etihad Payments, we are redrawing the boundaries of transactional convenience,” he adds.

Jan Pilbauer, CEO of Al Etihad Payments mentions, “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.”

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