UAE vs Mexico · Real-time payment systems compared
| Capability | IPP | SPEI |
|---|---|---|
| QR Code Payments | — | ◐ |
| Wallet Support | — | — |
| 24/7 Availability | ✓ | ✓ |
| Cross-Border | — | — |
| ISO 20022 | ✓ | — |
| Request to Pay | — | — |
| Open API | ◐ | ◐ |
| Alias/Proxy | ✓ | ✓ |
The UAE's Instant Payment Platform launched by the Central Bank of the UAE (CBUAE) under the consumer brand "Aani". IPP enables 24/7 real-time transfers between banks and financial institutions via IBAN, mobile number, or email address. Part of the CBUAE's Financial Infrastructure Transformation (FIT) programme alongside the Digital Dirham CBDC initiative, IPP is built on ISO 20022 and designed for a digital-first economy. The UAE's high smartphone penetration, expatriate population, and position as a regional financial hub make IPP strategically important for both domestic payments and future cross-border linkages with other Gulf and Asian systems.
Mexico's Sistema de Pagos Electrónicos Interbancarios is one of the world's earliest 24/7 real-time payment systems, operated directly by the central bank (Banxico). SPEI processes both high-value and retail payments with no maximum transaction limit, settling in real time through Banxico's accounts. It supports CLABE (standardised 18-digit account numbers) and has been extended with CoDi, a QR-based overlay for merchant payments. Note: SPEI data includes both immediate and scheduled transfers on the same rail, as Banxico does not separately report real-time vs deferred transactions.