Open Finance provider Spare has announced a strategic partnership with UAE-based property technology platform Rewa to modernize the rental payment process across the Emirates. The collaboration aims to replace traditional post-dated cheques with direct, digital bank payments, aligning with Dubai’s goal for a completely paperless real estate ecosystem.
Quick Facts
- Partnership to digitize UAE rental payments.
- Targets Dubai’s AED 126.4B rental market.
- Enables direct rent payments via bank accounts.
Beyond the Post-Dated Cheque
Through this partnership, Rewa will integrate Spare’s Pay-by-bank solution into its platform. This allows tenants to pay rent directly from their bank accounts, eliminating the need for cheques or manual bank transfers. For landlords and property managers, the system simplifies rent collection, enhances payment visibility, and provides a digital trail for all rental transactions.
Spare’s infrastructure operates on the Central Bank of the UAE (CBUAE) Open Finance Framework, providing secure Pay-by-bank capabilities to financial platforms throughout the country.
Aligning with Dubai’s Paperless Vision
The initiative directly supports the Dubai Land Department’s (DLD) vision for a fully digital real estate sector. The scale of this opportunity is massive; in 2025 alone, Dubai registered 1.38 million tenancy contracts with a combined value of AED 126.4 billion, according to DLD data. This high volume underscores the urgent need to move away from cumbersome, paper-based payment methods.
Dalal AlRayes, Co-founder and CEO of Spare, commented on the timing of the partnership: “The UAE has set a global benchmark for digital government services, ranking among the world’s top countries for digital infrastructure and e-government delivery, and the real estate sector is a natural extension of that. Through our partnership with Rewa, we’re helping transform the cumbersome, manual process of rental payments to a seamless experience that is more transparent and easier to manage.”
Najib Khanafer, Co-Founder and CEO of Rewa, highlighted the market impact. “Moving away from post-dated cheques isn’t just a convenience upgrade, it’s a structural shift in how the rental market operates, and one that sits squarely within the Central Bank of the UAE’s Open Finance vision,” he said. “Integrating Spare’s Pay-by-bank infrastructure means tenants can pay rent digitally and instantly, while landlords gain the payment certainty and real-time visibility that cheques never provided. We’re building the payment and loyalty layer that the UAE rental market has been missing.”
About Spare
Spare is an Open Finance infrastructure provider that enables fintechs and financial institutions to offer advanced payment and data solutions. Its technology utilizes the CBUAE’s Open Finance Framework to facilitate direct bank payments and other financial services.
About Rewa
Rewa is a UAE-based property technology platform focused on modernizing real estate transactions. The company provides digital solutions for the rental market, aiming to improve efficiency and transparency for tenants and landlords.
Source: Entarabi
