Al Etihad Payments operates Aani, an instant payments platform that enables fund transfers up to AED 50,000 around the clock, utilizing technologies such as Proxy Payments and QR-code-based transactions. This platform addresses the need for secure and immediate digital payment solutions in the UAE, facilitating seamless transactions for consumers and businesses alike.
Funding
Funding not disclosed
Founders
Product
Problem
In the UAE, many small and medium-sized enterprises (SMEs) still rely heavily on cash transactions, while consumers increasingly demand seamless and immediate digital payment options. Existing payment systems may not offer the speed, convenience, and security required for modern digital transactions.
Solution
Al Etihad Payments' Aani platform provides an instant payment solution enabling users to transfer funds up to AED 50,000, 24/7. Aani facilitates secure and convenient digital payments through features like proxy payments (using aliases instead of bank details), QR-code-based transactions, request-to-pay functionality, and split payment options. As a key initiative under the Central Bank of the UAE's Financial Infrastructure Transformation (FIT) program, Aani aims to transform the digital payment landscape in the UAE by offering a streamlined and efficient payment experience for both consumers and businesses. The platform also supports the UAE's move towards a cashless economy by encouraging SMEs to adopt digital payment methods.
Target Audience
Aani targets consumers in the UAE seeking convenient and secure digital payment options, as well as SMEs looking to transition from cash-based transactions to modern digital payment methods.
Features
- Instant fund transfers up to AED 50,000, available 24/7
- Proxy payments using aliases (e.g., phone number or email) instead of bank account details
- QR-code-based payment processing for simplified transactions
- Request-to-pay feature, allowing users to request payments from others
- Split payment functionality for dividing costs among multiple parties
- Integration with the UAE Switch network, connecting all ATMs in the UAE
- Support for the upcoming Domestic Card Scheme (DCS) to localize debit card transactions within the UAE
- Compliant with the UAE Wages Protection System (UAEWPS) for secure and timely wage payments