The collaboration embeds Pay By Bank capabilities directly into business workflows. Businesses today face transaction costs of 2–3% on every card payment, alongside settlement delays that disrupt cash flow and operational planning. Through Spare’s Open Finance infrastructure, Xsquare clients can now leverage Pay by Bank capabilities to streamline key business use cases, including payables, receivables, and cross-border payments, delivering reduced transaction costs and near real-time settlement.
Spare’s unified API integration provides platforms with a single integration point to initiate transactions across multiple use cases, eliminating the need to manage fragmented banking relationships and reducing operational complexity at scale. The partnership enables a more seamless payment experience with improved conversion rates, greater accuracy, and enhanced financial visibility.
Dalal AlRayes, Co-founder and CEO of Spare, said: “B2B payments across the region remain heavily fragmented, expensive, and operationally complex. Partnering with Xsquare allows us to bring Open Finance capabilities into real-world business payment workflows, helping companies reduce friction and operate more efficiently across markets”.
Ashwin Shenoy, CPO & Co-Founder of Xsquare, said: “Open Finance is set to fundamentally reshape how businesses transact, and we believe the UAE is uniquely positioned to lead this transformation. Through our partnership with Spare, XSquare is bringing together regulated account-to-account payment rails and a powerful B2B payment orchestration layer. This collaboration strengthens our vision of creating a unified financial operating system for businesses”.
The partnership reflects the growing role of Open Finance in transforming B2B financial infrastructure across the region, expanding beyond consumer applications to solve longstanding inefficiencies in how businesses move and manage money. The collaboration also follows Spare’s recent launch of its International Open Finance Payments solution in the UAE, reinforcing the company’s broader strategy to expand Open Finance infrastructure across real-world business payment use cases in the region.
