Mashreq Becomes the First Bank in the UAE to Offer Aani Instant Payments for SMEs via Mashreq Biz App — Enabling Faster, Safer, and Simpler Collections

Al Bawaba

2 days ago

Mashreq, one of the leading financial institutions in the MENA region, has announced the launch of Aani Instant Payments, a new solution enabling SME businesses to collect payments from their customers instantly, securely, and seamlessly with no IBAN required.The new Aani Instant Payments solution allows Mashreq's SME customers to generate a link or QR code through Mashreq Biz app that can then be shared with their own customers. This enables the collection of payments in seconds without any bank details to be provided. This solution offers a new level of efficiency in transactions, improves cashflows for SMEs, and allows them to offer a wider choice of payment methods to their customers, thus improving their sales.Rajeev Chalisgaonkar, Head of Business Banking and NEO BIZ at Mashreq, said: 'We are proud to be the first bank in UAE to offer Aani Instant Payments to SMEs. This solution demonstrates our commitment to help our Business Banking and NEO BIZ clients improve their cashflows through innovative banking solutions. With this new feature, SME customers can collect money faster, and their retail consumers also enjoy a far simpler and instant way of making payment for their purchases.'The Aani Instant Payments solution is integrated into the Mashreq Biz app, designed to allow SME customers access to a wide range of essential services via a unified platform. The addition of the new Aani Instant Payments feature simplifies collection options and empowers merchants to better serve their own consumers by providing a convenient, secure, and cost-free payment solution. Andrew McCormack, Chief Operating Officer at Al Etihad Payments, said: 'We are delighted to onboard Mashreq as a provider of the innovative Aani Instant Payment solution - bringing intuitive, secure, and inclusive digital payments to small-scale merchants and their customers. As demand for seamless, real-time payments continues to rise, Aani offers SMEs a powerful way to transact with greater ease and agility. By removing traditional barriers and enabling instant acceptance, Aani is not only enhancing business efficiency but is advancing financial inclusion and supporting the UAE's broader vision of a cashless, digitally empowered economy.' To collect payments – which can be requested from anyone enrolled with Aani in the UAE – Mashreq SME customers need simply log into the app, tap 'Pay' and then 'Collect Money', and a payment link or QR code will be generated. This code or link can then be shared with the merchant's own client, permitting a secure, seamless method of payment.Kartik Taneja, Head of Payments & Consumer Lending at Mashreq, said: 'With the launch of Aani Instant Payments on the Mashreq Biz app, we are reinforcing our commitment to delivering seamless, real-time payment solutions that simplify the way businesses collect funds. This first-of-its-kind solution reflects Mashreq's vision to empower SMEs with advanced digital tools that enhance operational efficiency and accelerate their growth in today's digital economy.'
The launch of Aani payments for SME business customers aligns with Mashreq's ambition of being the region's most progressive challenger bank, enabling innovative solutions for all its customers, and supports the UAE's National Payment Systems Strategy, which aims to increase interoperability between payment systems and reinforce the country's position as a global financial hub.