MoneyHash, the leading payment orchestration platform in the Middle East and Africa (MEA), and Spare, a leading Open Finance infrastructure company, have partnered to enable merchants to offer Pay By Bank solutions in the UAE.
The partnership helps to reduce payment costs, shorten settlement times, and deliver a seamless customer experience. The partnership reflects MoneyHash’s continued focus on expanding the range of payment technologies shaping the region’s digital economy, as businesses increasingly explore alternatives to traditional card-based payment models.
As businesses across the region explore new ways to optimize payment costs, customer choice, and operational efficiencies, open banking is emerging as a key pillar of modern payment strategies, particularly through the adoption of open banking payment initiation APIs that enable secure, account-to-account transactions.
Through its collaboration with Spare, MoneyHash reinforces its commitment to supporting innovation in this space and contributing to the broader development of secure, compliant, and efficient payment practices.
Through this partnership, MoneyHash complements its role in simplifying and scaling payment operations by collaborating with Spare, a leader in account-to-account payments, secure access to financial data and delivery of regulatory compliant open banking APIs across the region.
Maram Alikaj COO – MoneyHash
“Open banking is reshaping how digital payments evolve in the region, bringing new ways to enhance security, speed, and customer choice. Working with Spare aligns with our mission to support the industry with modern payment capabilities and deepen the understanding of how bank-based payments can create value for businesses.”
MoneyHash continues to expand its engagement with regulated financial infrastructure across the region, working with partners that operate within established regulatory frameworks and contribute to the evolution of open banking.
Through collaborations like this, MoneyHash supports the adoption of Pay By Bank, an account-to-account payment method that aligns with regional compliance requirements and reflects the growing maturity of open banking across the GCC, including key markets such as Saudi Arabia.
By partnering with Spare, MoneyHash strengthens its ability to engage with emerging payment technologies while maintaining a strong focus on security, compliance, and long-term market development.
“Our goal is to make open banking accessible and trusted for organizations of all sizes. Partnering with MoneyHash allows us to strengthen the evolving financial infrastructure and support the industry’s transition toward a secure, account-to-account payment capabilities,” said Shaima Ghafoor, Country Manager at Spare.
