Spare, an Open Finance infrastructure provider, has partnered with UAE-based online brokerage Tabadulat to integrate Pay-by-Bank functionality into the investment platform. The collaboration will enable Tabadulat clients to fund their investment accounts directly from their bank accounts, eliminating traditional card payment rails and streamlining the deposit process for Shariah-compliant investment products.
The integration marks a significant development in the Middle East fintech landscape, where digital payment innovation continues accelerating across financial services. By implementing Spare’s Open Finance infrastructure, Tabadulat aims to reduce friction in account funding while maintaining compliance with Islamic finance principles. The partnership addresses growing demand for seamless, modern payment experiences among retail investors in the UAE market.
For regional brokerages and fintech platforms, this deployment demonstrates the expanding viability of account-to-account payment solutions in investment services, potentially reducing transaction costs and settlement times compared to conventional card networks.
FXnCO Insight
Middle East brokerages should evaluate Pay-by-Bank integration opportunities now as client expectations shift toward instant, low-cost funding methods that bypass traditional payment intermediaries.
Source: Finextra