Latest news with #LeanTechnologies
Fintech News ME
12-06-2025
- Business
- Fintech News ME
AED 2 Billion in Open Finance Payments Tracked in UAE
Lean Technologies, a financial infrastructure provider in MENA has published a comprehensive whitepaper detailing how Open Finance is redefining payments in the UAE. Titled The Dawn of Open Finance – Payments, the report serves as a reference for fintech companies, digital platforms, financial institutions and policymakers seeking to understand how regulatory frameworks and new technologies are coming together to reshape payment systems in the country. The whitepaper outlines the foundational components of Open Finance in the UAE, with a particular focus on payments. It explains how account-to-account payments are becoming a viable alternative to traditional card-based transactions, supported by regulatory infrastructure developed by the Central Bank of the UAE. These payments are initiated and authorised through licensed third party providers using regulated APIs, enabling users to make real-time transfers directly from their bank accounts. Key elements of the UAE's Open Finance model include AlTareq, a centralised user interface standard that ensures a consistent payment experience, and Aani, the country's national real-time payments rail. Together, these initiatives enable faster, more secure, and more transparent transactions for both consumers and businesses. The whitepaper also breaks down various payment types enabled through Open Finance, such as single instant payments, future-dated payments, fixed and variable recurring payments, and bulk or batch disbursements. Each type is accompanied by a consent model that specifies transaction limits, authorisation timeframes, and access controls, providing users with full visibility and control. A comparison with other payment methods highlights the practical benefits of Open Finance, including lower transaction fees for merchants, reduced fraud risks, and near-instant settlement through domestic rails. In contrast to cards or manual bank transfers, Open Finance offers embedded experiences within apps or platforms, eliminating the need for manual data entry or external redirection. The paper also outlines the governance framework behind Open Finance in the UAE, including the role of consent as a mandatory, standardised element across all services. It provides a detailed view of how users authenticate, authorise, and manage their payment permissions, with features such as multi-factor authentication, real-time notifications, and revocation controls. Lean, which is licensed as a third party provider in the UAE, developed the paper based on its operational experience supporting Open Finance across the region. The company states that while systems like Aani provide the payment infrastructure, businesses often require additional layers of integration and support. Lean's role, the paper notes, is to bridge that gap by offering developer-friendly APIs, unified bank connectivity, and real-time payment orchestration. With integrations across more than 16 banks, covering 99 per cent of the UAE's banked population, Lean reports that its technology is currently in use by platforms such as Careem, e&, DAMAC and Lulu Money. The company says the whitepaper reflects both the current state of Open Finance and the opportunities that lie ahead as adoption increases.
Zawya
22-05-2025
- Business
- Zawya
MoneyHash and Lean partner to bring instant bank payments to UAE merchants
Dubai, UAE – MoneyHash, the Middle East and Africa's leading payment orchestration platform, has announced a strategic partnership with Lean Technologies, the region's leading financial infrastructure platform, to bring instant Account-to-Account (A2A) payments for e-commerce and digital-first businesses across the UAE. The partnership enables merchants to offer seamless, bank-direct payments at checkout, reducing card processing fees, improving checkout experiences, and enhancing cost efficiency. Powering Pay-by-bank with Lean and MoneyHash Through this partnership, MoneyHash and Lean Technologies are making pay-by-bank (A2A) capabilities more accessible to merchants across the UAE—enabling seamless, secure bank-direct payments directly within checkout flows. By integrating, businesses can activate pay-by-bank options without added complexity, unlocking faster implementation and a more intuitive customer experience. 'MoneyHash's orchestration layer is designed to simplify access to modern payment methods while supporting our partners' innovations,' said Mohamed Amir, Head of Sales and Solutions at MoneyHash. 'Our partnership with Lean reflects a shared vision of delivering seamless, cost-effective, and secure payment experiences tailored to the needs of businesses and consumers in the UAE.' Lean's technology enables direct and secure access to bank accounts for both data sharing and payment initiation. Integrated into MoneyHash's unified API, merchants can now offer customers the ability to pay directly from their bank accounts —instantly, securely, and without needing a card. 'We're proud to partner with MoneyHash to help merchants improve cost efficiency and offer better payment experiences,' said Omar Hamada, VP of Sales & Partnerships at Lean Technologies. 'This collaboration makes pay-by-bank more accessible to businesses of all sizes without compromising on speed, security, or user experience.' Advancing Regulatory and Consumer-Driven Innovation This collaboration not only empowers merchants but also supports the region's broader regulatory vision. Both MoneyHash and Lean operate with a strong compliance focus, regulated under Abu Dhabi Global Market (ADGM) in the UAE and Saudi Central Bank (SAMA) in KSA. By making A2A payments commercially accessible, the partnership strengthens the UAE's growing fintech ecosystem while supporting national goals around financial inclusion and digital transformation. From a consumer standpoint, the integration reduces friction in checkout journeys, especially for users preferring direct-from-bank transactions over traditional card payments. For merchants, it means lower transaction fees, reduced fraud risk, and fewer chargebacks, all accessible through a single integration point. About MoneyHash MoneyHash is the first and leading payment orchestration and revenue operations platform built for the Middle East and Africa. Through a unified API, the platform enables businesses to integrate and manage payment service providers, optimize transaction routing, minimize failure rates, and centralize reporting and operations. Designed to remove complexity from payments, MoneyHash equips businesses with the tools to scale quickly across markets while maintaining control, flexibility, and performance. Learn more at About Lean Technologies Lean Technologies is the region's leading financial infrastructure, offering secure and developer-friendly APIs that enable businesses to connect to their users' bank accounts for both data and payment initiation. Lean is licensed and regulated by ADGM and SAMA, and is committed to building infrastructure that powers the next generation of financial innovation in MENA. Learn more at
