Dubai: The ‘Aani’ payment platform is gaining traction among UAE consumers and retailers, providing instant payment solutions with the backing of banks. The platform, part of a move to enhance digital payments, allows users to make transactions in seconds, particularly benefiting smaller merchants not previously equipped for digital payments.
Jan Pilbauer, CEO of Al Etihad Payments, part of the UAE Central Bank, explained, “We have made Aani accessible for payments, especially for smaller merchants who may not have the capability to accept digital payments. These merchants can print a static QR code, allowing customers to scan it with the Aani app or their banking app to pay in real-time.”
Since its launch in October 2023, over 1 million customers and 80,000 merchants have enrolled in the program, making Aani a valuable tool for newly established businesses across the UAE.
For micro and small businesses, Aani presents a cost-effective option compared to the investments required for full-scale digital payment systems. All they need is a QR code, and transactions are completed instantly.
According to industry consultants, consumer-focused startups stand to benefit significantly from adopting Aani. “Payment systems like this have transformed instant transactions for micro-businesses in India and other Asian markets,” noted a financial services industry source, highlighting Aani’s potential impact in the UAE’s well-established digital payment landscape.
The Aani payment option is being gradually rolled out to merchants by acquirers such as Network International and Magnati, as well as by banks. Since its pilot phase, Aani has expanded from nine participants to about 50 licensed financial institutions (LFIs), enrolling over 1 million users.
Aani also caters to peer-to-peer payments, allowing UAE residents to transfer funds quickly. “Aani enables users to pay in seconds, drawing funds from their bank accounts or wallets, ensuring that payments either succeed or fail without leaving any pending transactions,” said Pilbauer.
“Aani is the UAE’s instant payment infrastructure, but banks play a crucial role in integrating it into their systems. Through collaboration, we ensure that Aani’s functionality is seamlessly incorporated into their digital offerings, enabling customers to enjoy instant payments across the UAE.”
