Financial infrastructure company Lean Technologies has expanded its “Pay by Bank” services following the rollout of the Open Finance framework in the United Arab Emirates, marking a significant step in the country’s evolving digital payments sector.
The development allows regulated account-to-account (A2A) payments to be used more widely across commercial transactions, including online checkouts, business collections and subscription-based services. Instead of relying on traditional card networks, the system enables direct transfers between bank accounts through regulated payment initiation.
Lean Technologies scales ‘Pay by Bank’ as UAE Open Finance goes live, reflecting a broader shift in how financial services are being structured as regulators move toward more integrated digital banking systems.
According to the company, the expanded model builds on its existing A2A payment infrastructure, which has been operating in the UAE since 2022. It said the system has already processed significant transaction volumes and has been used by major regional companies across sectors such as transport, real estate and digital services.
The firm also said businesses using the platform have collectively saved substantial costs linked to traditional card processing fees, as bank-to-bank payments typically bypass intermediary charges.
The introduction of Open Finance in the UAE provides a regulated framework that allows banks and licensed fintech companies to connect financial data and payment services more securely. Industry analysts see the development as part of a wider regional push toward digital transformation in financial services.
Lean Technologies scales ‘Pay by Bank’ as UAE Open Finance goes live at a time when Gulf economies are increasingly investing in fintech infrastructure to improve efficiency, reduce transaction costs and expand digital payment options for consumers and businesses.
The company, founded in 2019, works with hundreds of businesses across the region and connects millions of bank accounts through its platform. It said the latest expansion is intended to increase adoption of account-to-account payments and support the UAE’s broader digital economy strategy.
