Lean Technologies, a leading MENA financial infrastructure provider, announced the expansion of its Pay by Bank capabilities, built on the UAE’s newly operational Open Finance framework. The expansion signals a major development in the country’s digital payments system, making regulated payment initiation widely available to businesses.
Quick Facts
- Built on the UAE’s new Open Finance framework
- Processed billions in total processed volume
- Saved businesses over $100 million on card fees
Building on Billions in Processed Payments
Since 2022, Lean has enabled account-to-account (A2A) payments across the UAE, processing billions in total volume for leading enterprises including e&, Careem, DAMAC, and OKX. This scale has laid the groundwork for the current expansion, proving that A2A payments can operate reliably within the market. To date, Lean reports that its technology has helped businesses save over $100 million on card fees.
A Structural Shift from Card Networks
By consolidating deposits, collections, checkout, and subscriptions into a unified Pay by Bank suite, Lean is positioning A2A payments as a structured and scalable alternative to traditional card networks. This move aims to bring greater consistency and visibility to the payment method, expanding options for both businesses and consumers in digital commerce.
Unifying Account-to-Account Payments
“When we began enabling account-to-account payments in the UAE, our conviction was that they would become a structural component of the country’s digital economy,” said Tewfik Cassis, CPO at Lean Technologies. “Over the past 4 years, we have demonstrated that this model works at scale, processing billions in transaction volume across leading enterprises and embedding these payments into everyday digital journeys.”
“The operationalization of regulated payment initiation under the UAE’s Open Finance framework represents the next phase of that progression,” Cassis continued. “Pay by Bank extends a proven commercial capability onto nationally standardized infrastructure, reinforcing account-to-account payments as a core option within the payments landscape.”
About Lean Technologies
Lean Technologies is the leading financial infrastructure provider in the MENA region, enabling businesses to access financial data and initiate payments instantly. Since its founding in 2019, Lean has supported over 400 companies, processed more than $4 billion in transaction volume, connected over 2 million accounts, and verified more than 3 million accounts.
Source: Zawya
