Spare and Xsquare Partner to Advance Open Finance Business Payments

DUBAI, UAE – Spare, an Open Finance infrastructure provider, has announced a strategic partnership with UAE-based B2B payments company Xsquare to enable Open Finance-powered business payments under the Central Bank of the UAE's (CBUAE) Open Finance Framework.

The partnership integrates Pay by Bank capabilities directly into business payment workflows, helping companies reduce transaction costs, improve cash flow and simplify payment operations.

Businesses typically incur transaction costs of 2–3% on card payments while also facing settlement delays that can impact operational planning. Through Spare's Open Finance infrastructure, Xsquare clients will be able to leverage Pay by Bank capabilities across key business functions, including payables, receivables and cross-border payments, delivering lower transaction costs and near real-time settlement.

The collaboration also enables businesses to access Spare's unified API, providing a single integration point to initiate transactions across multiple payment use cases without managing multiple banking relationships. The solution is designed to reduce operational complexity while improving payment conversion, accuracy and 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 companies said the partnership reflects the growing role of Open Finance in modernising B2B financial infrastructure across the region by extending its application beyond consumer payments to address long-standing business payment inefficiencies.

The collaboration also follows Spare's recent launch of its International Open Finance Payments solution in the UAE, supporting the company's broader strategy to expand Open Finance infrastructure across real-world business payment use cases throughout the region.