Lean and Ziina launch UAE's first one-tap Pay by Bank system

This new partnership between Lean and Ziina brings a streamlined 'Pay by Bank' option to the UAE market, directly challenging traditional credit card and BNPL dominance. For merchants, this means you can now offer customers the ability to pay instantly from their bank account with a single tap. There is no need for manual data entry or account numbers. This system utilizes Open Finance technology to verify and settle funds immediately. For your business, this technology can significantly reduce the transaction fees typically associated with credit cards or installment plans. It also eliminates the risk of chargebacks and reduces manual reconciliation work. Customers get a mobile-native experience that feels as fast as Apple Pay but draws directly from their checking or savings. While this specific launch is focused on the UAE, it signals a broader global trend of 'account-to-account' (A2A) payments becoming a primary checkout option. Retailers should watch this space as A2A payments often provide a cheaper, faster alternative to traditional consumer financing for smaller or mid-sized ticket items.

Source: Finextra — Lending

← Return to the library· Submit a correction