The service is integrated with the Central Bank of UAE’s Aani or Instant Payment Platform (IPP), allowing real-time processing of low-value payments. This initiative positions Mashreq as one of the early adopters in the UAE to offer API-based real-time payment capabilities for domestic fund transfers, account-to-account transfers, and bulk transfers through its corporate online banking channels integrated with Aani.
Mashreq’s launch of Instant Payment APIs represents a strategic move to leverage technology for real-time financial transactions, supporting corporate clients’ operational agility and customer experience improvement.
In the company press release, representatives from Mashreq highlighted the transformative impact of instant payments in the Middle East, particularly in facilitating ecommerce growth. The bank's investment in API technology aims to enhance client transactions and support the region's digital future.
Mashreq officials also emphasised the significance of instant payment APIs in driving real-time commerce and enhancing financial operational efficiency for corporate clients. The APIs enable faster B2B transactions and align corporate payment experiences with retail banking standards.
Mashreq’s commitment to providing round-the-clock instant payments without cut-off times, with transaction limits up to AED 50,000, reflects its support for innovation and digital advancement in the region. The integration of its corporate online banking channels with Aani marks compliance with CBUAE’s guidelines and underscores its role in advancing the UAE’s National Payment Systems Strategy.
Aani, operated by Al Etihad Payments and a subsidiary of CBUAE, aims to digitise the UAE economy and support financial inclusion. Mashreq, along with other financial institutions, has contributed to Aani’s implementation, supporting the platform’s role in bringing the UAE closer to a cashless economy.
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