Spare and MoneyHash partner to power Pay by Bank in the UAE
At Spare, our mission has always been clear: to build the open banking infrastructure that powers the next generation of financial experiences across the GCC. Today, we’re excited to share a major step forward in that journey, our strategic partnership with MoneyHash, a leading payment orchestration platform in emerging and global markets.
Together, we’re enabling merchants in the UAE to offer Pay by Bank, an open banking powered, account-to-account (A2A) payment method that allows customers to pay directly from their bank accounts. For merchants, this means lower transaction costs, faster settlement times, and a seamless, secure customer experience.
Advancing Open Banking payments in the UAE
As businesses across the UAE and wider GCC look beyond traditional card-based payments, open banking is becoming a cornerstone of modern payment strategies. Through this partnership, Spare provides the regulated payment rails through Open Banking infrastructure and seamless connectivity to financial institutions, while MoneyHash brings powerful payment orchestration capabilities to the table. The result is a Pay by Bank experience that is easy for merchants to adopt and trusted by customers.
By combining our strengths, we’re helping businesses:
Lower payment processing costs
Reduce reliance on card networks
Shorten settlement times
Offer customers more choice at checkout
“Our goal is to make Open Banking accessible and trusted for organizations of all sizes,” said Shaima Ghafoor, Country Manager at Spare. “Partnering with MoneyHash allows us to strengthen the UAE’s financial infrastructure and support the shift toward secure, account-to-account payment capabilities.”
“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."
Built on regulation, trust, and seamless bank connectivity
Operating in alignment with regulatory frameworks across the GCC is fundamental to how we build at Spare. Our platform is fully compliant with local requirements and designed to provide secure, reliable connectivity to financial institutions through a single API.
Through our partnership with MoneyHash, we’re expanding access to Pay by Bank and Open Banking payments while maintaining the highest standards of security, compliance, and performance, helping businesses across the UAE build faster, more efficient, and future-ready payment experiences.
Why choose Spare as your Open Banking partner
Spare is trusted by enterprises, fintechs, and SMEs across the GCC to deliver secure, compliant, and scalable open banking solutions. From Pay by Bank to real-time financial data access, our platform is designed to help businesses innovate faster while staying aligned with regulatory requirements.
Whether you’re launching in the UAE or scaling across the GCC, Spare provides the infrastructure you need to connect to banks seamlessly and build future-ready financial products.
Want to learn more about how Spare can help you launch Pay by Bank and open banking-powered experiences?Get in touch with our team now at [email protected]
Why MoneyHash Powers Modern Payment Orchestration
MoneyHash is the leading payment orchestration platform built for emerging and global markets, delivering infrastructure-level payment solutions that mirror AWS's approach to cloud computing. The payment orchestration software enables multiple payment gateway integrations through a single API, offering smart payment routing, multi-currency payment processing, and a unified dashboard for complete operational control. MoneyHash empowers businesses to turn payment complexity into a competitive advantage, delivering the flexibility and scalability needed to scale across one of the world's most diverse and fastest-growing digital markets.
Learn more at www.moneyhash.io