MoneyHash has partnered with Spare, a regional open banking infrastructure provider in the GCC, to enable merchants in the UAE to offer Pay By Bank solutions.
The collaboration aims to reduce payment costs, shorten settlement times, and support account-to-account transactions.
The partnership aligns with MoneyHash’s focus on expanding digital payment options beyond traditional card-based models.
By integrating Spare’s open banking payment initiation APIs, the platform provides secure access to financial data while complying with regional regulations.
“Open banking is reshaping how digital payments evolve in the region, bringing new ways to enhance security, speed, and customer choice,”
said Maram Alikaj, Chief Operating Officer at MoneyHash.
“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’s engagement with regulated financial infrastructure reflects a broader commitment to supporting the adoption of account-to-account payments across the GCC, including Saudi Arabia.
By collaborating with Spare, the company strengthens its capacity to implement emerging payment technologies while maintaining compliance and security standards.
“Our goal is to make open banking accessible and trusted for organisations of all sizes,”
said Shaima Ghafoor, Country Manager at Spare.
“Partnering with MoneyHash allows us to strengthen the evolving financial infrastructure and support the industry’s transition toward secure, account-to-account payment capabilities.”
The collaboration supports the region’s shift towards alternative payment methods, aiming to lower costs, accelerate settlements, and give businesses greater control over payments.
Both companies view open banking as a key factor in the development of secure, compliant financial infrastructure and the broader evolution of digital commerce in the GCC.
Featured image credit: MoneyHash
