Cryptocurrency platform MoneyHash joins forces with Lean to deliver instant bank transactions to UAE businesses
In a significant move to bolster the UAE's growing fintech ecosystem, MoneyHash, the leading payment orchestration platform in the Middle East and Africa, and Lean Technologies, the leading financial infrastructure platform in the region, have formed a strategic partnership. This collaboration aims to bring instant account-to-account (A2A) payments for e-commerce and digital-first businesses in the UAE, while improving cost efficiency and offering better payment experiences [1][2].
The partnership leverages MoneyHash's payment orchestration platform and Lean's universal API infrastructure to facilitate real-time payments, allowing businesses to process transactions faster and more seamlessly across bank accounts [3][4]. Omar Hamada, Vice President of Sales & Partnerships at Lean Technologies, stated that the collaboration aims to improve cost efficiency and offer better payment experiences.
Key benefits of the partnership include:
- Instant Payments: The integration supports immediate transfers directly between bank accounts, bypassing slower traditional payment routes. This enhances the checkout experience for customers and accelerates cash flow for merchants in e-commerce and digital-first sectors [1][4].
- Cost Efficiency: By enabling A2A payments, businesses reduce dependency on card networks and intermediaries, often associated with higher fees. This reduces transaction costs and operational overhead, which is crucial for digital-first companies aiming to scale cost-effectively [1].
- Ecosystem Connectivity: Lean Technologies' API connects fintech innovators to banking infrastructure across the MENA region, facilitating seamless payment initiation and account data retrieval. This boosts the technical capability of businesses to offer advanced payment solutions without heavy investment in backend infrastructure [4].
- Expansion of Digital Payments: Their partnership supports the UAE’s push toward modern fintech adoption, aligning with regulatory encouragement for efficient, innovative payment methods [1].
For merchants, the integration means lower transaction fees, reduced fraud risk, and fewer chargebacks, all accessible through a single integration point. The technology is integrated into MoneyHash's unified API, enabling merchants to offer customers the ability to pay directly from their bank accounts. This partnership makes pay-by-bank more accessible to businesses of all sizes without compromising on speed, security, or user experience.
In conclusion, the MoneyHash-Lean partnership equips UAE e-commerce and digital-first businesses with fast, seamless, and cost-effective payment solutions that enhance customer experience and operational efficiency within the dynamic fintech landscape of the region [1][3][4].
[1] Press Release: MoneyHash and Lean Technologies Partner to Bring Instant Account-to-Account Payments to UAE E-commerce (link) [2] Gulf Business: Abu Dhabi Islamic Bank partners with Lean Technologies to advance financial innovation (link) [3] Zawya: MoneyHash partners with Lean Technologies to bring instant account-to-account payments to UAE (link) [4] Finextra: MoneyHash and Lean Technologies partner to bring instant account-to-account payments to UAE (link)
- This collaborative venture between MoneyHash and Lean Technologies, two major fintech players in the Middle East and Africa, is intended to bolster the UAE's growing fintech ecosystem.
- The goal of this partnership is to introduce instant account-to-account (A2A) payments for e-commerce and digital-first businesses in the UAE, thereby improving cost efficiency and offering a better payment experience.
- The alliance utilizes MoneyHash's payment orchestration platform coupled with Lean's universal API infrastructure to enable real-time payments, ensuring transactions are processed faster and more seamlessly across bank accounts.
- With the integration of A2A payments, businesses reduce their reliance on card networks and intermediaries, a step that significantly reduces transaction costs and operational overhead.
- Lean Technologies' API also links fintech innovators to the financial infrastructure of the MENA region, enhancing businesses' technical capability to develop advanced payment solutions without significant investment in backend infrastructure.
- This partnership supports the UAE’s push towards modern fintech adoption, aligning with regulatory encouragement for efficient, innovative payment methods in the region.
- Merchants, by integrating this technology into MoneyHash's unified API, have access to lower transaction fees, reduced fraud risk, and fewer chargebacks, enabling them to offer customers the ability to pay directly from their bank accounts, revolutionizing the online payment process in the region.
