Al Etihad Payments (AEP), the UAE Central Bank subsidiary that operates the national instant payments platform Aani, has selected Montran to implement an International Remittance Platform (IRP) Gateway. The initial rollout will connect Aani to India's Unified Payments Interface (UPI), with plans to extend to other national instant payment systems.
How the IRP Gateway Works
The IRP Gateway serves as a unified connector between UAE financial institutions, the Aani platform, and foreign instant payment infrastructures. Key capabilities include:
ISO 20022 compliance with real-time message transformation
Rule-based routing across connected payment networks FX deal management, prefunding, and settlement Open API interoperability for future network additions 24/7/365 real-time processing with full security and compliance controls
The architecture consolidates multiple bilateral protocols into a single standard, meaning that as AEP connects to additional foreign payment systems, each new corridor doesn't require bespoke integration.
Why India UPI First
The UAE-India corridor is one of the world's highest-volume remittance routes. The initial integration leverages Montran's existing status as a Certified NPCI Partner with established relationships with leading Indian banks. For the estimated 3.5 million Indian nationals in the UAE, this promises faster, cheaper transfers compared to traditional correspondent banking channels.
Strategic Context
This initiative supports the UAE's National Payment Systems Strategy and reflects a broader MENA trend toward bilateral instant payment interlinking - similar to the Thailand-Singapore PromptPay-PayNow link established in 2023. AEP retains full operational control throughout the remittance process, distinguishing this from card network or correspondent banking-based alternatives.
Sources
- Al Etihad Payments via PRNewswire - accessed 2026-03-10
- The Fintech Times - accessed 2026-03-10