MoneyHash Partners With Spare To Enable Pay By Bank in UAE

MoneyHash, a payments infrastructure platform that helps businesses manage and optimise multiple payment methods, has partnered with Spare, a regional open banking infrastructure provider, to enable Pay By Bank checkout options for merchants in the UAE.

The collaboration introduces account-to-account payments as an alternative to traditional card-based transactions, allowing customers to pay directly from their bank accounts at checkout. The partners said the approach is designed to reduce payment processing costs, shorten settlement times, and improve the overall checkout experience, while remaining aligned with regulatory frameworks across the GCC.

MoneyHash is integrating Spare’s open banking capabilities into its payment orchestration platform, giving merchants access to secure bank-to-bank payments alongside existing payment options. Spare provides the regulated infrastructure that enables payment initiation, secure access to financial data, and compliant account-to-account transactions.

Both companies said the initiative is part of a broader shift across the GCC toward regulated, compliant open banking solutions, as businesses increasingly look for alternatives to card-based payments that offer greater efficiency and control.