Latest news with #RajeevChalisgaonkar
Al Bawaba
4 days ago
- Business
- Al Bawaba
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
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 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 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 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.
Fintech News ME
4 days ago
- Business
- Fintech News ME
Mashreq Rolls Out Aani Instant Payments for SMEs in the UAE
Mashreq has introduced Aani Instant Payments, a new feature designed to allow SMEs to collect payments from their customers instantly and securely, without requiring an IBAN. The Aani Instant Payments feature enables Mashreq's SME clients to generate a link or QR code via the Mashreq Biz app, which can then be shared with their customers. This allows payments to be made within seconds, without the need to exchange bank account details. The solution is expected to improve cash flow management for SMEs and provide customers with additional payment options. Rajeev Chalisgaonkar, Head of Business Banking and NEO BIZ at Mashreq, said: '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 feature is integrated into the Mashreq Biz app, which provides SMEs access to a range of essential financial services on a single platform. The new addition simplifies the payment collection process and offers a secure, convenient option at no cost to the merchant. Andrew McCormack, Chief Operating Officer at Al Etihad Payments, commented: '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 request a payment, Mashreq SME clients log into the app, select 'Pay' followed by 'Collect Money', and a payment link or QR code is created. This can then be sent to the customer, offering a quick and secure method of completing transactions.
Zawya
4 days ago
- Business
- Zawya
Mashreq fecomes the first bank in the UAE to offer Aani instant payments for SMEs via Mashreq Biz app
Dubai, UAE: 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. About Mashreq: Mashreq is more than half a century old, yet proudly thinks like a challenger, startup, and innovator. Mashreq has pioneered key innovations and developments in banking, starting with entry-level digital-first customers all the way to powering some of the region's most prominent corporations and wealth accounts. The bank's mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them achieve their goals and unlock their vision of success. Reassuringly present in major financial centres of the world, Mashreq's home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers. Mashreq has been recognized as the fastest-growing Middle East brand, by Banking 500 rankings for 2024 by Brand Finance. Find your way to Rise Every Day at:
Zawya
24-02-2025
- Business
- Zawya
Mashreq introduces ‘Mashreq Biz', a game-changer in digital banking for SMEs
Dubai, UAE: Mashreq, one of the leading financial institutions in the MENA region, has successfully launched Mashreq Biz, a next-generation online and mobile business banking platform designed to simplify and enhance the banking experience for businesses. Offering an intuitive, easy-to-navigate interface, Mashreq Biz empowers SMEs and business owners to manage their finances, payments, and transactions seamlessly from the comfort of their office or home, transforming day-to-day business operations into a streamlined, efficient process. Fernando Morillo, Group Head of Retail Banking at Mashreq, said, " Mashreq Biz is a key part of our strategy to empower SMEs and drive the digital banking revolution in the UAE. With this initiative, we are not only expanding our reach across new channels but also enhancing our offerings. We provide advanced products and services that equip SMEs for effective long-term financial management. At Mashreq, our goal is to set new standards in business banking by delivering comprehensive solutions that manage finances both efficiently and securely." With SMEs constituting over 94% of active enterprises in the UAE, employing 42% of the workforce, and contributing 40% to the national GDP, these businesses are pivotal to the country's economic diversification and growth. As of mid-2022, the UAE had approximately 557,000 SMEs, contributing 63.5% to the non-oil GDP, with projections indicating this number will reach 1 million by 2030. Aligned with the growth of the SME sector in UAE, Mashreq is advancing the digital transformation of over 70,000 existing NEOBIZ and Business Banking customers by introducing the 'Mashreq Biz' platform. Launched in 2019, NEOBIZ was the first digital banking proposition in the UAE specifically designed for SMEs. The Mashreq Biz platform builds on this foundation, offering even more advanced features that cater to the dynamic needs of SMEs. This strategic enhancement underscores Mashreq's commitment to maintaining its leadership as a digital innovator and emphasizes its role as a pivotal player in the regional banking industry. Rajeev Chalisgaonkar, Group Head of Business Banking, Mashreq, added "The launch of Mashreq Biz signifies a major leap in our commitment to support SMEs. By providing a platform that not only simplifies operations but also boosts productivity, we are setting a new benchmark in business banking. Mashreq Biz is meticulously crafted to align with the diverse needs of our customers across various sectors, ensuring that it serves as a robust partner in their growth journey. Several of our SME customers participated in the designing and testing of Mashreq Biz, and we sincerely thank them for their insights and their feedback which helped us deliver a platform that addresses the real-world needs of modern SMEs and improves their competitiveness." The introduction of Mashreq Biz is a significant step forward for business banking, offering a wide range of services that enable businesses to access banking solutions anytime, anywhere. Key features of this state-of-the-art platform include an integrated dashboard for a complete relationship overview, instant foreign currency account openings, bulk payments, and deposit bookings at preferential rates. With additional functionalities such as workflow approvals, multi-user management, and value-added services, accessible on both web and mobile, Mashreq Biz promises to redefine convenience and efficiency for business banking customers. Corey Thompson, Executive Vice President and Head of Digital for Mashreq's Retail Banking Group, concluded,"At Mashreq, we are setting a new standard for what digital banking can offer to businesses in the region with the introduction of Mashreq Biz. This platform is a fundamental shift in how businesses can handle their banking needs from the convenience of their office or home. By providing state-of-the-art mobile and online banking, we are simplifying complex financial tasks, making it easier for SMEs to focus on what they do best. Mashreq Biz offers tailored, scalable and secure solutions that are finely tuned to the changing demands of the digital era, ensuring that our customers can thrive in a competitive business landscape.' About Mashreq Mashreq is more than half-century old, yet proudly thinks like a challenger, startup, and innovator. Mashreq pioneered key innovations and developments in banking, starting with entry-level digital-first customers all the way to powering some of the region's most prominent corporations and wealth accounts. The bank's mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them achieve their goals and unlock their vision of success. Reassuringly present in major financial centres of the world, Mashreq's home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers. Mashreq has been recognized as the fastest-growing Middle East brand, by Banking 500 rankings for 2024 by Brand Finance.
